Dow Futures Dropping Fast

CNN ^ | 11/27/2009 | NA

[prisoner6]

Dow Futures down 327 as of 2:41AM.

NASDAQ down 70.75.

S&P down 41.70.

[usconservative]

I'd like to know how much US 'investment bank' $$ are tied to Dubai World's derivatives Ponzi scheme??

I think we're going to find out in pretty short order today, but if I had my guess it'd be those banks with big investment arms such as Chase, BofA, CitiBank. I'd also pay attention to the State Street's and BONY's who often act as custodian's for major investors as they seek to re-evaluate their holdings today, assuming they have any of the funds from Dubai.

[RSmithOpt]

I've read that the artificial economy created from the global derivatives Ponzi scheme is realistically between $500-$700 trillion and it has not even unwound 50% as of yet.

Thank you Allen Greenspan and Bildeburg!

[usconservative]

I read something similar, I thought it had unwound about 5% though ....

[RSmithOpt]

Wouldn't you want to spend $1.5 - $5.5 million for this flat ocean / beach view???

Get'em while they're HOT!

The perfect sheeple corral.

[COBOL2Java]

I like Northwest Territorial Mint's "Stagecoach Silver". The one-ounce bars can be broken up if necessary into quarter-ounce pieces...

[Old Retired Army Guy]

This is because of the Dubai thing. It is overblown and they will come back. The European exchanges are doing okay.

[RSmithOpt]

Wowzzer......The article I read a couple moths back said that it may unwind 50% by the end of the year......the author didn’t try to peg an estimate at the time for the amount that has unwound.

[cripplecreek]

If everything goes to crap, The UP is my first choice of places to hold up.

I think I would try to land in Grand Marais. Its isolated with no easy access and right on the lake.

[AmericanInTokyo]

yep. buy on the dips!

[AmericanInTokyo]

Heck, in a year or two, wait till they bottom out and then buy a few to play around with as an investment....that is, IF Dubai ever comes back.

[RSmithOpt]

Looks as though the DOW may go below 10K today from the -242 futures number....Reckon Dubai World is unloading a chunk?

[RSmithOpt]

Great selling point for those McCracker Boxes on the Palm Island... I believe you cannot drink on the island....Muslim country - no alcohol?

The 3 artificial sand islands have an estimated cost (from 2006) of $14 billion....that's a chunk of speculative change.

[AmericanInTokyo]

I dont know. It seems rather opaque. Who KNOWS what they own? And who knows what people own in Dubai World??

[AmericanInTokyo]

Very liberal muslim country (UAE) as I understand it, compared to other places in the area. I am sure as long as you are not drinking out on the porch, or on the beach, you can have cold brewskis in the house. Who knows.

[CapnJack]

Another precious metal investment ...

[RSmithOpt]

Great...would you like spending millions for your piece of property and not be able to sit on your own porch and drink a cold one?

Maybe the Somali pirates will switch to running booze into the islands at night? LOL!!

[AmericanInTokyo]

Location: Garden Homes Palm Jumeirah - Dubai Nice 4 bedrooms for sale. Fully furnished. Frond O. Garden Home Palm Jumeirah. Villa for Rent in Palm Jumeirah. Ready to move in. For more details contact us.Bayut ID:449477Type:VillaStatus:For SaleBedrooms:4Bathrooms:4Area: 7,500 Sq. Ft. Price: 9,000,000 AED Ownership:Freehold Occupancy status:Vacant Finance Available:Yes Construction status:Complete

I reckon that to come to around USD$1.62MILLION.

Too damned much if you ask me. These should be coming way down. I think they jack the price up twice on the internet, to see if any kafeer saps in the West would fall for such a ludicrous price.

[AmericanInTokyo]

We could photoshop and do a kind of "Looter Guy in reverse". Stick him on one of those small Somali dinghy's, going up and down the canals of Palm Jumeriah, and selling Budweiser's to thirsty kafeer under cover of darkness from his milk carton.

[AmericanInTokyo]

Ping!

Happy Dubai Day!

[RSmithOpt]

Yup...great price for no beach frontage, nor privacy, no yard, no shade. (/sarc)