Posts tagged Thanksgiving
Money Mcbags hopes you all had a good Thanksgiving and were able to “stuff a turkey” thanksgiving night after stuffing yourself with turkey thanksgiving day. But Thanksgiving is over now and the markets are taking a dive because apparently Dubai can’t pay off their debts. Honestly, this is about as surprising as finding out strippers aren’t dancing just to put themselves through college and Britney Spears had boob implants.
For those of you who haven’t been paying attention, we’re in a bit of a global recession led by financial derivatives exciting a real estate boom. Over that time, one of the most developing countries was Dubai who now features one skyscraper per every two people (I get floors 1-50, you can have 51-99, and floor 100 we’ll just turn into our own personal oda). Well now apparently Dubai World (the investment are of the Dubai government) wants to suspend their repayments of $60B of debt. Uh oh, UAE we have a problem.
Money McBags isn’t too concered over this since it should have been baked into forecasts. Dubai having debt issues caused by construction has been known for quite awhile, just ask small public construction management companies like HIL (and Money McBags thinks HIL is a nice little play for you small cap ladies out there looking to add some “steel rods to your portfolio” with little inventory risk. Actually, it would even be a good play for the guys too.). The point of all of this is we are still in turbulent times and commercial real estate is still overvalued whether it’s in the US, Dubai, or Uzbekistan since we are in a global economy. So as always be smart out there and remember, Money McBags is here for you.