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tomder55 · Nov 28, 2009, 04:34 AM

I wonder how much TARP money is tied up in that project ?

Dubai shook the world

European banks are said to have $40 billion at risk. How much of the Dubai debt is at Citi or Bank of America etc ?

excon · Nov 28, 2009, 07:51 AM

Hello tom:

Buy gold.

excon

J_9 · Nov 28, 2009, 07:54 AM

90% of the world's cranes are in Dubai... there are 7 natural colors of sand there as well.

My sister and her husband live there... will come back to US soil in 5 years millionaires (supposedly).

tomder55 · Nov 29, 2009, 03:41 AM

My sister and her husband live there... will come back to US soil in 5 years millionaires (supposedly

Hope you are right . Dubai tried to create a Monte Carlo in the Persian Gulf from oil revenue. But they appear to have been overly ambitious and a house with a foundation built in sand is apt to collapse.Dubai is stuck with a glut of real estate that no one wants to buy or rent.

Dubai World said it seeks a six-month delay in paying creditors on nearly $60 billion in debt .The New York Slimes calls Dubai's move “the global high-finance equivalent of a homeowner asking the bank to allow six months of skipped mortgage payments because of a shortage of cash.”

Supposedly European banks like HSBC are exposed. I just wonder if any US banks that took TARP funds are exposed also. I hope because of the geopolitcs American banks avoided this trap.

Dubai has been in the pockets of the Iranians. Often they are the go betweens Iran and European nations seeking to do business with Iran skirting sanctions. It is because of this close cooperation that Iran thinks it can overcome any international pressure to end their nuke program.

Now I don't want to see them go down. I think Dubai has been attempting something good for the ME by bringing some western-like resort area to the Gulf. But I would like to see the ties between them and Iran severed .

tomder55 · Nov 29, 2009, 04:57 AM

Hello tom:

Buy gold.

Excon

This has been the soundest advice you have given here . Had I purchased gold when you first began saying that I would've seen my investment go up by 400 dollars per oz.
For years I thought it had peaked because I was sure the gvt would support the dollar. Now I'm not so sure.

paraclete · Nov 29, 2009, 07:27 PM

Originally Posted by tomder55

This has been the soundest advice you have given here . Had I purchased gold when you first began saying that I would've seen my investment go up by 400 dollars per oz.
For years I thought it had peaked because I was sure the gvt would support the dollar. Now I'm not so sure.

How do you support the dollar when you don't have any money. I'm surprised the Chinese aren't supporting the Dollar, it must be hurting them that their goods cost more to the US

tomder55 · Nov 30, 2009, 03:56 AM

Well for one thing you can verbally support the dollar . That hasn't happened by our executive dept in a decade . We are into our 2nd administration that believes in weak dollar policies because they mistakenly believe it helps the export market.

Next you can stop flooding the world market with paper money . The Fed can tighten the supply ;and raise and lower interest rates at will. So although recently Bernanke has talked a good game lately ; he and the Fed have not taken any actions yet.

450donn · Nov 30, 2009, 07:18 AM

Originally Posted by tomder55

Well for one thing you can verbally support the dollar . That hasn't happened by our executive dept in a decade . We are into our 2nd administration that believes in weak dollar policies because they mistakenly believe it helps the export market.

Next you can stop flooding the world market with paper money . The Fed can tighten the supply ;and raise and lower interest rates at will. So although recently Bernanke has talked a good game lately ; he and the Fed have not taken any actions yet.

If you think our economy is in the tank now, wait until interest rates hit 10% or inflation is again double digit like in the carter administration. At that point you will probably see a world wide financial collapse the likes of which the world has never seen before. It will then we (the USA) will turn into a third world country like the libs want.

excon · Nov 30, 2009, 07:28 AM

Originally Posted by 450donn

It will then we (the USA) will turn into a third world country like the libs want.

Hello again, 450:

But, Mr. Right Winger, I'll bet you support going to WAR without asking how much it costs or how we'll be able to pay...

It's going to bankrupt us, of course, which is what the Republicans want.

excon

PS> Actually, that's not true... As misguided as the Republicans are, I believe they have the interests of the country at the heart of their principles... But, you really go astray when you believe that you, and ONLY you, love your country...

PPS> So, tell me again, where you spilled your blood defending the country you profess to love... I can tell you where MY blood was left on the ground...

tomder55 · Nov 30, 2009, 05:34 PM

I would support higher interest rates to stabilize the currency 450donn .It is these lower rates and excess currency chasing too few goods that is inflationary. That is why gold prices have insanely inflated. That is why there is an irrational bubble in the stock markets.
Oh I intend to take advantage of the ride.But I'm also poised to jump ship.

The cure to the Carter years was Reagan's strong dollar policies.

NeedKarma · Nov 30, 2009, 05:40 PM

Originally Posted by 450donn

It will then we (the USA) will turn into a third world country like the libs want.

Why do the libs want this?

450donn · Nov 30, 2009, 09:39 PM

Originally Posted by excon

Hello again, 450:

But, Mr. Right Winger, I'll bet you support going to WAR without asking how much it costs or how we'll be able to pay...

It's gonna bankrupt us, of course, which is what the Republicans want.

excon

PS> Actually, that's not true... As misguided as the Republicans are, I believe they have the interests of the country at the heart of their principles... But, you really go astray when you believe that you, and ONLY you, love your country....

PPS> So, tell me again, where you spilled your blood defending the country you profess to love... I can tell you where MY blood was left on the ground...

No clue where you got your reply from my post, but so be it.
VietNam 1966-1967 thank you!

paraclete · Nov 30, 2009, 10:29 PM

Originally Posted by 450donn

If you think our economy is in the tank now, wait until interest rates hit 10% or inflation is again double digit like in the carter administration. At that point you will probably see a world wide financial collapse the likes of which the world has never seen before. It will then we (the USA) will turn into a third world country like the libs want.

Don high interest rates has not brought about financial collapse, they are used as a fiscal control measure to lower inflation by soaking up purchasing power. The problem right now is interest rates are too low giving no support to the value of the dollar. Your country will turn into a third world country from devaluation of your currency if the fed continues its policies