Dubai, After-Shock or Harbinger (and how about that dollar?) – Private Wealth Advisors

Monday, November 30, 2009

Dubai, After-Shock or Harbinger (and how about that dollar?)

by Marty Mazorra CFP®, ChFC®

Founder & Co-Chief Investment Officer

While a huge number of shoppers gave up hours of sleep last Friday to hit the ground running (one report tells of an early-riser who was in such a hurry to get to the mall that he wiped out a fire hydrant and a tree in his very own driveway), the market turned what should have been a snoozer of a trading day into a virtual rollercoaster ride.

News that Dubai, the largest (in population) of the United Arab Emirates, got way ahead of itself in terms of leverage sent the Dow (at one point) down more than 200 points. The announcement that Dubai World (the emirate

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Marty Mazorra CFP®, ChFC®

Founder & Co-CIO

is the author of "Making Lemonade: A Bright View on Investing, on Financial Markets and on the Economy" and "Leaving Liberty?: Essays on Politics and Free Market Thinking".

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