ES Futures Down on Dubai Debt Shockwave
Started Nov 26 2009 at 4:10PM (EST) (By slara512)
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3 Comments
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slara512
Nov 26 2009 at 4:11PM (EST)
SPY futures down almost 25 points on this news.
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dirtyharry
Nov 26 2009 at 5:27PM (EST)
There's another big default out there waiting to happen: China. I know people are pointing to numbers like 8% growth, their population, etc. There is a big mistake that China has made that isn't getting mainstream coverage. While the U.S. and Dubai have overbuilt housing, China has overbuilt factories. With their western customers suffering, China is about to have a HUGE overcapacity problem that will play out over the next couple of years.
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V4Vendetta
Nov 26 2009 at 9:26PM (EST)
There is also that whole command economy and no free speech thing.