Dubai Crisis - Humor

Three things caught my eye and I just couldn't resist commenting.

1. The Economist Intelligence Unit has an analytic piece whose headline uses the term "Dubacle" to describe the crisis.  That deserves a tip of the AA's virtual tarboush.
   
2. Shaykh Mohammed has pointed out that the "World lacks understanding of what is happening in Dubai"  There is a lot of merit in his statement, though this observer would note that perhaps more importantly the "world" particularly the financial world didn't show much understanding of what was happening in Dubai in the run up to the crisis.  If they had, the current problems of all those self-proclaimed sober bankers and investors now crying out for a bail-out could be much less.  But I suppose there's something to be said for consistency.
   
3. An article in GulfNews about the necessity of debt planning and management: "Manage Debt Before It Hurts You."  The problem is that a lot of these self help columns come out a bit late in the game.  But a wise caution to borrowers everywhere and  to every sort of borrower. - sovereign and non sovereign  (By the way, Lloyds Bank reportedly has somewhere around US$ 1 billion out to Dubai Inc so they are particularly well placed to draw on their own direct experience on this topic in framing advice).  Abu Arqala has already penned his advice column to would be bankers and investors as one of the many public services of this blog.