Friday, November 27, 2009

Dubai Mess Morning Yuk

Terrific coverage over at Zero Hedge,   Building Desert Sand Castles in the Sky 
Surely these problems were not entirely unguessable, especially to those on site. It would explain the early am UDX spikes (subsequently canceled by ICE) over the last few weeks.

Just for starters, I came across mention that Dubai had 58 Airbus A380's on order at roughly 320 mil each. 
Hmm, 18.5 bil there.
Considering the price America pays for it's gasoline dependence, the likely stabilizing attempts by the US Treas. and Fed, directly or indirectly, of the markets, European banks and Dubai,  is this mornings ironic Yuk.

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