Dubai + Iceland = Bubble Posterboys
When it’s all said and done, these economies personify the bubble more than even Bernie Madoff.
Instead of inflating the expectations of an individual or group of individuals, these were entire countries who hoodwinked the rest of the world. They made legitimate plans for their sustained meteoric rise, and they believed [...]
dubai news
Investors dumped shares in alarm on Friday, sending markets plunging as fears of debt defaults bred fresh concern for the world economy after Dubai’s shock request to suspend major loan repayments.
Investors “headed for the exit door” after the Dubai government’s investment vehicle Dubai World sought to suspend debt payments for six months, IG Markets analyst [...]