PDA

View Full Version : Economics So, today might be a bad day on the market


Silock
11-27-2009, 01:53 AM
Dubai asks for more time to pay off its debts.

Euro and Asian markets all down 3+%. Dow down 317 pre-open.

Yipes.

Black Friday, indeed.

BigRedChief
11-27-2009, 06:21 AM
Dubai asks for more time to pay off its debts.

Euro and Asian markets all down 3+%. Dow down 317 pre-open.

Yipes.

Black Friday, indeed.
And why does the world care that some small azz country in the middle east requested an extension on a debt?

Silock
11-27-2009, 06:41 AM
And why does the world care that some small azz country in the middle east requested an extension on a debt?

Where do you think they borrowed money from? Banks. Where have there been giant problems in the past two years? Banks. Now isn't exactly the time to be defaulting on debts.

Yeah.

BigRedChief
11-27-2009, 06:50 AM
Where do you think they borrowed money from? Banks. Where have there been giant problems in the past two years? Banks. Now isn't exactly the time to be defaulting on debts.

Yeah.
Why was some little podock country in the middle east allowed to borrow so much money that its a threat to us to do economic harm if it defaults?

Silock
11-27-2009, 07:19 AM
Why was some little podock country in the middle east allowed to borrow so much money that its a threat to us to do economic harm if it defaults?

Because that's what Dubai does. They borrow money. They always have.

It's not a threat to US, per se, but more of a systemic thing. That's why people slightly panicked. Although, it's looking a lot better now than it was 8 hours ago.

Calcountry
11-27-2009, 12:13 PM
And why does the world care that some small azz country in the middle east requested an extension on a debt?ROFL I had a post for you, but backed out of it. It simply isn't worth the time.

memyselfI
11-27-2009, 06:00 PM
Well you nailed it. Could you be Treasury Sect?