My Word!
March 3, 2009 by Muhammad Haidar
Filed under Muhammad Haidar, Other - Business & Finance, Politics
AIG seeks more funds from the U S Government to stay afloat. Citigroup wants more and more of the same. General Motors wants support from the American Government. There is a long line of tottering giants waiting with bowls in their hands.
The American Government keeps shovelling billions into these apparently ‘bottomless pits’, while working up a Himalayan Deficit!
Guantanamo Bay Detention Centre to be shut down!
Why was it set up in the first place? One American President sets up the centre, another one shuts it up. And neither of them is accountable for his actions! Imagine if all the countries of the world were to follow America’s example!
Who will buy all the property?
Around the world massive amounts of properties have been built over the past 10 years some are finished and some are not. It seems like everyone wanted a piece of the real estate market. I’ve seen some news stories about developments in Southern Spain going unsold. The US and UK markets are lacking buyers. There are so many other places that are looking for buyers too. A lot of the property available was directed by foreign buyers. In the gulf area there are enormous developments looking for investors and buyers. I just can see how people are going to be able to invest in all these projects around the world with a ginat slowdown worldwide. I kind of think this is going to compound as things worsen. I guess I just think the money isn’t there in general. I mean are you planning to buy a condo in Dubai or South Africa? How about Spain or Portugal? Are the buyers really there for all these projects that are directed at foreign buyers.
What do you think of property markets that rely on foreign investors. Are the investors drying up? Will this add to the overall bankruptcy/Banking issues?