Obviously, global wealth is concentrated in a very few hands, and it is impossible to justify the enormous spending based on the mostly bankrupted people around the world as we can see millions of Americans went bankrupted and major nations in Europe went bankrupt.
Most of western countries are bankrupted, and there aren't many left who can spend except financial market hype and manipulation. Anyone who falls into market manipulation would certainly go bankrupt to support the massive expenses. It is evident what is left is market manipulation.
- The fact that Dubai has been struggling under huge debts is not a surprise to anyone who has followed the Emirate’s economy over the last 10 years. http://www.cnbc.com/id/34171381
years. - Gartman Warns: Dubai Stock Market Fear Has 'Legs'AP
A huge property-led boom saw money pile into infrastructure and construction projects like the Palm Jumeirah or the soon-to-be-completed 810 meter Burj Dubai tower that will dwarf any building on earth.
- The fact that Dubai has been struggling under huge debts is not a surprise to anyone who has followed the Emirate’s economy over the last 10 years. http://www.cnbc.com/id/34171381
- Dubai's Debt Woes Signal New Era for Creditors
Banks With The Biggest Exposure to The UAE - Slideshow: The World's Biggest Debtor Nations
- US Dollar Rises Against Most Currencies—Except Yen
- US Markets Bracing for Selloff on Dubai Debt Worries
- Shoppers Hit Black Friday Sales, Budgets Pared
- US Dollar Falls to 14-Year Low Against the Yen
11/25/2009 Half of Banks' Losses May Still Be Hidden: IMF Head
- Half of the losses suffered by banks could still be hidden in their balance sheets, more so in Europe than in the United States, the International Monetary Fund's chief, Dominique Strauss-Kahn, was quoted as saying on Tuesday. http://www.cnbc.com/id/34143699
- Half of the losses suffered by banks could still be hidden in their balance sheets, more so in Europe than in the United States, the International Monetary Fund's chief, Dominique Strauss-Kahn, was quoted as saying on Tuesday. http://www.cnbc.com/id/34143699
Paul incomplete thinking that running up gold price and blaming the Fed will solve the problem while the greedy congress is also a part of the problem which we are facing. The Fed is driven by trillion size fund managers and capitalists, therefore, blaming only the Fed is delusion. He is also a part of gold price hype causing more trouble running up prices and further destroying and devaluing American wealth in reality.
Capitalists & Congress Millionaires
http://www.cnbc.com/id/33993791
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