This date shall also come and go just like the 1990, 92, 1999, 2001 and other dates that various factions have setup. Default of one tall structure is a microcosm of the bigger picture, and being the largest project it now needs help. It is almost similar to the new venture of Donald Trump and every 3rd or 4th project he has a default coming, and then he finds the funding, deals with the pain and survives....
I have not read anything about the Dubai situation (except below info), but there is too much money out there to have one large project go to default and take the country / sector / region down with it. They is still a lot of oil income being generated in the middle east.
Just my high level 'optimistic views'......
KKP
kk s wrote:
21st Dec 2012
kumar
To: Technical-Investor@yahoogroups. com
From: bees2365@yahoo.co.in
Date: Fri, 27 Nov 2009 11:15:58 +0530
Subject: Re: [Technical-Investor] Dubai Default
In Tamil, there used to be a folklore which says empires will fall after building tall or monumental structures. They used to quote the Chola dynasty for that I saw that happening in Malaysia afteR Petronas Towers. Now in Dubai. When is China?
Sriram
B.Sriram
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--- On Fri, 27/11/09, Sniper Trader <snipertrader@gmail.com> wrote:
From: Sniper Trader <snipertrader@gmail.com>
Subject: [Technical-Investor] Dubai Default
To: Technical-Investor@yahoogroups. com
Date: Friday, 27 November, 2009, 7:58 AM
Good Morning Working Drones -
Today's news carries a series of unexpected and surprising headlines when the Dubai Government announced that Dubai World will ask creditors for a standstill agreement to extend the maturities of all debt repayments by Dubai World and its property unit Nakheel until May next year.
Now the interesting thing here is that the bets on Dubai's default (using CDS and other wall street toys) weigh in much higher than the actual default.
What is also interesting is....the news was released on a US market holiday.
This COULD have huge ramifications for the markets
Equities will react....thats a no brainer...but the USD could strengthen.. .putting further pressure on global mkts including commodities.
The play book move would be what we saw when Lehman collapsed
- USD strong- Equities Weak- Commodities Weak
Somehow i feel, things will be slightly different this time.
I am watching the CDS mkt space for more clues..looks like Greece is next!
Cheers!
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-- Plan Your Work and Work Your Plan to Get Ahead in 2009-2012..... KKP Investor ------------ ------------ Bull Markets are Born on Pessimism, Bull Markets Grow on Skepticism, They Mature on Optimism, and Die on Euphoria - Sir John Templeton ------------ --------- --------- ------ Bear Markets are Born on Recessionism, Snowball on Momentum & Technical-Breakdown s, Mature on Eco-Political- Nightmare Talks, and Die on World-Is-Coming- To-An-End Euphoria - KKP ------------ --------- --------- --------- -------- >BUFFET: My rule is to be fearful when others are greedy,and be greedy when others are fearful. All day you wait for the pitch you like, then when the fielders are asleep, you step up and hit it. Stay dispassionate and be patient. First the crowd is boozy on optimism and buying every new issue in sight. The next moment it is boozy on pessimism, buying gold bars and predicting another Great Depression. Most people get interested in stocks when everyone else is jumping in. The time to get interested is when no one else is interested. You can't buy what is popular and expect to do well. ABOVE ALL: Whatever God Does, Accept that as Good; Leave Behind ALL Other Judgements/Justific ations. ------------ --------- --------- --------- --------- --------- --------- --------- --------- --------- ------- Disclaimer> Do you homework for your ownself and then invest. My ideas are not advice.
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