Andrew Ducker (andrewducker) wrote,
Andrew Ducker

Dubai defaults on its debts

If it was just a large Dubai-based company then I wouldn't be that surprised - but this is the largest government owned investment company in Dubai.

An awful lot of expansion over the last 15 years has been based on debt - and we're going to be seeing more and more of it unwind.  Which is what happens when your model is based on getting into debt and then paying it off faster than the interest mounts up - you live on the edge, balancing incomings against outgoings on a constant basis.  The longer the recession lasts the more companies will be pushed over that edge.

  • Interesting Links for 05-05-2021

    The world's biggest jeweller, Pandora, says it will no longer sell mined diamonds and will switch to exclusively laboratory-made diamonds (tags:…

  • instagram cross-post

    Sophia stroking Jim in bed at night. The other day I left her alone for a few minutes and came back to find him on her bed. She said "He's been…

  • Interesting Links for 04-05-2021

    What if Uber - but superheroes? (tags: superheroes business roleplaying ) Biden at 100 Days: Boring as a Secret Weapon (tags: politics usa )…

  • Post a new comment


    Anonymous comments are disabled in this journal

    default userpic

    Your reply will be screened