03-08-2009, 09:58 AM
dubai does not have no oil exports. Dubai's economic fallout is a direct result of western economic problems. Dubai's economic model relies heavily on foreign investment, a commodity which is in short supply these days in the world. Unless the world moves away from its economic conditions, dubai is unlikely to recover.
Opec cant tie their own shoes properly without permission leave aside the price hike to 140 dollars. The recent oil prices were directly linked with the excessive credit that was made available to oil companies by banking sectors and especially in the last days of bush administration. I dont think we will see the repeat, unless their is a natural reason in either Africa or oil supply routes.
I really hope the economic conditions start to reverse out soon, unless unpopular decisive actions are taken by politicians we are heading for a deeper recession. Worldwide massive bailouts are now starting to result in deficit financing. I feel by the end of this year we will start to see signs of a general inflation in the world economy, which will lead to increased interest rates.
Finally, why is it so that these audit firms who have been so successful all over the world failed to notice so spectacularly that their banking clients were exposed to massive specific market risks and yet all the audit reports of all the failing banks were clean like rain water?
Opec cant tie their own shoes properly without permission leave aside the price hike to 140 dollars. The recent oil prices were directly linked with the excessive credit that was made available to oil companies by banking sectors and especially in the last days of bush administration. I dont think we will see the repeat, unless their is a natural reason in either Africa or oil supply routes.
I really hope the economic conditions start to reverse out soon, unless unpopular decisive actions are taken by politicians we are heading for a deeper recession. Worldwide massive bailouts are now starting to result in deficit financing. I feel by the end of this year we will start to see signs of a general inflation in the world economy, which will lead to increased interest rates.
Finally, why is it so that these audit firms who have been so successful all over the world failed to notice so spectacularly that their banking clients were exposed to massive specific market risks and yet all the audit reports of all the failing banks were clean like rain water?
