Why is There a Media Blackout on the Impending Economic Implosion of Dubai? I Know Why
By Lance Winslow
Well, let’s see, it was not all that long earlier when we saw the US property realty market collapse and big numbers of foreclosures trigger the home mortgage situation. Negative fundings at the top of the market, in the middle of a well-known and evident realty bubble. Some might ask why did all those banks give 100% funding to all those customers who truly could not afford to pay them back? Well, rather than ask me, why not ask the Swiss.
The Swiss, what in the world am I talking about? Well, the Swiss banks that simply got released are the ones financing all the unbelievable growth of Dubai. Yes, that’s appropriate and why are they doing all that? Well, because those obtaining the money have the ability to pay back the loans with their oil loan. Only one issue, oil rates are under $50 per barrel and going lower, prior to the World financial recovery in 2010, when Global Oil demand begins to climb up right back up again.
However is Dubai really a bubble? Sure it is, with the World Economic problems, there are less purchasers and world traveling is down. Meanwhile, Dubai is in crisis mode trying to determine just what to do. There are 100s of large scale commercial construction jobs taking place today that are just partly finished, along with 100s of other projects. Many of the skies scrapers incomplete are just half done, will they be completed? How will they pay those construction finances? Can the Swiss remain to money them, without any guarantees?
Why is there no media discussing this problem? There have just been a couple of articles in the Financial expert and the Financial Times. Is there some sort of media blackout on the upcoming financial implosion of Dubai? Interesting actually, why is it that the global media is afraid to tell the truth?
Lance Winslow – [http://www.carwashguys.com/history/founder.html] Lance Winslow’s Bio. If you have innovative ideas and unique point of views, come assume with Lance; [http://www.WorldThinkTank.net/] www.WorldThinkTank.net/.