Would Dubai Debt Problem cause another Financial Crisis?

[Dennis Ng]

This seems to be the No. 1 question on everyone's mind. This same question was asked during the Mind Your Money Seminar on 28 Nov 2009 at Pan Pacific Hotel, organised by MAS and Mediacorp.

None of the other speakers wanted to make their stand.

I replied that according to what I read, the Dubai owed the world about US$80 billion. While the Global Financial Crisis that occurred U.S. alone already at least pumped in US$1 trillion into the U.S. economy.

How would another US$80 billiion cause another Crisis vs US$1 trillion? The numbers do not gel.

Thus, in my opinion, other than causing fear in the market, the Dubai Crisis should NOT have a significant impact on the Global Financial Situation. I said this last evening, before reading any other analysis by any analysts.

Most people "miss the Big picture", to me I'm a Big Picture person, I always look at the Big Picture, becos from my experience, if we get the Big Picture right, the "small picture" (details) don't really alter things materially.

[Starfire]

The others do not want to comment on the subject currently is b'cos they are all "analysts" mah

[Dennis Ng]

The others do not want to comment on the subject currently is b'cos they are all "analysts" mah

haha.