"U.K. Prime Minister Gordon Brown said he and Financial Stability Board Chairman Mario Draghi are confident that Dubai’s debt troubles are “containable.”
"Sheikh Ahmed bin Saeed al-Maktoum insisted that 'unprecedented growth,' in Dubai and across the (United Arab Emirates), over the past decade has helped lay the foundation for what is now a broad-based sustainable economy beyond just natural resources."
"Wall Street Jounal: The credit problems of a unit of Dubai's state-owned investment company have given financial markets a scare, but put us down as thinking the event is left-over business from the mid-decade mania more than it is a sign of immediate new economic troubles."
Does anyone remember the infamous 2007 statement by Fed Chairman Bernanke who said the subprime mortgage problems was contained? Oh, I know this time is different. (How many times have I heard that statement.) We are only talking about $3.5 billion, which is nothing more than a pimple on good Sheikh's camel. Nothing to worry about, so let's just use this as a "golden" buying opportunity, as we did in 2007. (LOL)
No comments:
Post a Comment