[dennisw]

Two years ago I used to think Dubai was insane but real when I read about their billion dollar indoor ski slope. I figured it was loony but they could afford it

Now it seems Dubai was built on Citibank money and borrowing from other foreign suckers. Ripping off the infidel is OK if Muhammad is your false prophet

[penowa]

I haven't seen anything in any of the TB publications which I regularly receive, but I suspect Dubai's financial problems could be the final nail in the coffin of the thoroughbred business in KY which is already in serious decline (some stud fees for top stallions have been cut in half for '10 with few takers since the sale yearlings this year with the exception of the handful of top bloodlines are off over 40%.) The buyer or back-up bidder for the most expensive yearlings is Sheik Mohammed, the ruler of Dubai.

Even if his personal fortune is in no way effected by his country's financial crisis, I suspect he will pull back on buying the most expensive TBs here, in Europe, Australia and S.A. for the sake of how it will look to his subjects. He also owns millions of acres, the top horse farms in all the aforementioned places and supports a payroll of thousands of employees working worldwide caring for the horses.