Developing Affordable Housing Ecosystems World Wide
By: David A. Smith
Proving that America has no monopoly on good ideas, the impending collapse of Greek finances is revealing, strand by strand, that whatever shenanigans and subterfuges might have been pioneered by the Enrons of this world, the sovereign nations of Europe will have perfected and taken to scale. As reported in the Wall [...]
By: David A. Smith
Am I allowed to gloat?
Not gloating, just celebrating
Back in early December, I posted about Dubai World’s default announcement, calling it ‘a shock of the first magnitude, with consequences that will reverberate for years if not decades.’ In the days that followed the financial press was fully of it-ain’t-that-bad stories as various observers [...]
By: David A. Smith
Our choicest plans have fallen through
Our airiest castles tumbled over
Because of lines we neatly drew
And later neatly stumbled over
Piet Hein, Grooks, On Problems
Don’t do this …
“If you think this country’s in bad shape,” sang Rufus T. Firefly in Duck Soup, “just wait ’til I get through with it!” That seems to echo [...]
By: David A. Smith
Perhaps motivated by AHI’s thorough five-part post demonstrating its serious repercussions, the government of Abu Dhabi announced on Monday that it would be injecting $10 billion into Dubai to fund Dubai World’s upcoming sukuk (Islamic bond) payment and to provide working capital for Dubai World through next April. In doing so, Abu [...]
By: David A. Smith
[Continued from yesterday's Part 1.]
What’s the difference between you and a mega-developer?
When you owe the bank a thousand dollars, you have a problem. When you owe the bank a billion dollars, the bank has a problem.
Treasury, we have a problem
[This multi-part post covers the upcoming sovereign bankruptcy of Dubai World, a [...]
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