Saturday, December 5, 2009

Wasn't This Obvious?

It is my humble position that what's transpiring across the world does not take a rocket scientist to understand. It's amazing reading all of the articles about Dubai's pending default. Why are we always so surprised? Arrogance? Ignorance? Overly optimistic? Linear thinkers?

Dubai definitely is the outer layer of the Middle Eastern onion.

"Robert Prechter's research illustrates that during major credit expansion periods, the tallest buildings "of their time" have been constructed. The Burj Dubai might be a great example of this phenomenom. Euphoria rules at the crest of the tidal wave."
Random Roving 12/11/08

"It looks like that credit card might have run dry. It sounds like they've been dining on a few Plastic Eggrolls! This will be one to watch. Lets consider Dubai to be the world's leader in credit spending!"
Random Roving 3/11/09

"He responded 'the parking lot at the airport is filled with abandoned cars'."
Random Roving 6/16/09

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