For the past couple years we have been covering every nuance of the economic collapse and in almost every instance we have come to the conclusion that 2010 would be the year that the U.S. would see an incredible downturn, possibly resulting in the inflationary disintegration of the Dollar, and a major stock market revolt which would destroy any remaining illusion Americans still have that a recovery is in progress:
We are now on the edge of winter 2009, and recent events across the globe indicate more and more that our predictions for 2010 were correct. Let’s examine some of those events and their implications now…
Dubai: Why Should We Care?
Only a year ago, Dubai was the jewel of the Middle East. A financial Mecca centered in the midst of the United Arab Emirates, Dubai has been nicknamed the “Global City,” not necessarily because its population is “globally conscious,” but because without investment from numerous foreign nations, Dubai would not exist.
Dubai is often mistaken as an oil rich nation, but the fact is, only 6% of Dubai’s GDP is supported by oil revenue. The vast remaining portion of Dubai’s economy operates completely on money from the U.S., China, Europe, and other foreign interests.