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Dubai Crude Price Crashes To Lowest Since 2004, Stocks Hit 2 Year Lows
Dubai Light Crude prices have plunged overnight, crashing the spot price below the 2008 lows for the first time, to its lowest since 2004. This is continuing to weigh on Dubai's once-exuberant equity market which just hit fresh 2-year lows as financials and property companies plunge.
Worst in 11 years...
Driving the exuberant money-chasers out o fthe nation's stock market... (and do not forget we market the top in 2014 when a company that actually did nothing saw its IPO oversubscribed 36x)...
And finally this is why all of this is a problem... when there is no equity to back that 'skyscraper' of debt, the contagion will spread.

One supports the other... and vice versa.
Though we do note that Dubai's crude is not the lowest priced...
Charts: Bloomberg
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But Sheikh Mohammed bin Rashid Al Maktoum's home is free and clear.
Long sand, my dearest, long sand...!
Long on dehidrated stinky slaves of Dubai
No, Goblins.
And down, down to Goblin town
You go, my lad!
Clash, crash! Crush, smash!
Hammer and tongs! Knocker and gongs!
Pound, pound, down underground!
Ho, ho! my lad!
You go, my lad!
and magic carpets.
Pull It!
Home?? I thought that was just his winter retreat cottage
Right click on the picture, zoom in, third window from the left on the second floor...you can see Madelaine McCann.
It's Monday and I'm at NIRP fucks to give about a once and future, third world toilet......
and in the Shale Patch and Canada
Then, last February, he was sent on a three-day stint, not knowing that his employer was preparing his termination papers. He learned that he’d been laid off along with others days later. Within months, he and his girlfriend were homeless and moving into his parents’ house.
Now he’s $7,000 behind on child support payments. “I tried so hard to do it on my own, be a good father – the guy who goes to work everyday and earns his money,” he says. “It’s very depressing.”
Seibel’s represents one of 40,000 Alberta oil jobs lost since the price of petroleum plummeted late last year. Accrording to Statistics Canada, 185,000 more energy workers will be jobless by spring.
At least the suicide rate increase will keep unemployment numbers in check.
And the other oil shieks that bailed them out last time...are a little short on cash right now too...
Wait for it, the last time I checked there were still damn near 8 billion of us all competing for the resources and consumable calories required to maintain a high standard of living. Those living in caves probably don't need to worry though...
Can you hear my violin?
+1 on the choice of icon
with a house like that..go long lawnmowers and window washers...
A country named "joint" ?
There are only 7 billion people and we could support 12 billion if you didn't drive an SUV or eat 4,000 calories a day.
No, that's wrong we could support 14 billion if you drove a Diesel SUV and only ate 3850 calories a day. Check your facts.
Sure, if he was the only one driving.
For how long, with 14 billion driving a Diesel SUV, and what "facts" are you using for KSA reserves?
I'm moving to North Korea. The women there have nice skin and there's only one guy who eats 4,000 calories a day.
Maybe it is a good thing that we are encountering some size limits in a manner that is sub-optimal? Compare and contrast: scenario #1 has the world being uber lean/mean/kindly/green, but still stoopid human. Things are just peachy right up to our maximum limit of 12 billion souls, at which point add 1 and the whole delicately perfectly balanced system implodes. Scenario #2 is a world with fat/wasteful/selfish/ungreen types that put the limit in the neighborhood of 8 billion. Being sub-optimal, scenario #2 has issues left and right in a progression all the time, so it constantly raises the opportunity to either address the real problem (self-managed population size) or be forced to take a step or two towards "optimal".
Scenario #2 gives humanity lots and lots of chances to figure things out before nature becomes a limit, and imho the "poor" resolution to scenario #2's regularly arising issues is to solve the short term problem and shift more towards scenario #1; successfully postponing an addressing of the ultimate problem. So don't be too upset, you may get your way in the end, and if so, I'll be upset because I think arriving at an "maximal" population level means we ultimately failed.
Who said we needed to support 12 billion people? We sent men to the moon and returned them safely to the earth with less than four billion.
We don't need more people. We need better people. Bring Old Man Smallpox out of retirement and let him and natural selection do his job of keeping the low-IQ population to a manageable size and making room for better breeds of humanity.
Of course, to the 30,000 "better" means precisely those low-IQ people content to live worse than the master class's dogs, and lacking the smarts to organize successful slave revolts or effectively resist when robot technology comes far enough that the robots can be ordered to dispense with the human drudges.
It's the high-IQ people who are our masters' closest competition that they want to persuade to stop reproducing, voluntarily or otherwise.
I could just advise you that you could take your own advice regarding the salvation of the planet and kill yourself, but I'd prefer to warn you that if nothing is done about the 30,000 soon, they will be happy to make the decision for you.
Moar!
At some point the sand will retake Dubai. All the Indians will go jome. And the Arabs will return to fishing.
Ain't capitalism grand? While monster oil producing nations play beggar thy neighbor, in the process they beggar retired folk trying to eke out a living on dividends. And why are retired folk doing that? Because another bunch of a'holes killed fixed ineterest and safe returns.
Still getting fisted at the gas pump
They've got "coillateral" .... we got "coallateral" ?
silk purses http://www.wsfa.com/story/30387928/4-sought-in-eastchase-retail-store-sh...
Zero fucks given. Maybe they can harness up their camels to tow their Ferraris around.
Dude! Dubai Dow decidedly down due to disastrous deluge of deep dark deposits, dicey debt.
Maybe if I was in the oil business I would give a damn. But I'm in the gasoline purchasing business and we never see the fucking price of gasoline crash at the pump. The price spikes are immediately passed along to us however. The oil business has been the most lucrative business developed over the past 100 years, outside of banking. Consumers have made them rich, and the quest for control of fossil fuel energy still fuels death and destruction. Our military and Pentagon private miltary contractors are in the business of acquiring and protecting these resources. We get to pay for the gas and hear how evil Muslims are. Most have no fucking clue who the real enemies are.
We know who the enemies are and the rest of the population is rapidly catching on. The proof is in the declining numbers of the so called "main stream" press CNN, MSN, NBC, FOX etc. The socialist in France had to pull off candidates from the ballots in order to support the Center Right republicans for heavens sake in order to keep the Anti EU, Anti Muslim invasion, excuse me anti immigration party known as "French National Front" from winning. That's unheard of and a clear sign of a trend. Hell why do you think people like Trump? Even the trade Unions in NYC are talking about supporting him. Iron workers and Steam fitters are having trouble keeping their members in line at union meetings because the union members don't want to support a Democrat they want to back Trump. The coffee has been smelled and the people are waking up.
I think - this time - may be different at the pump - the need for cash for all these countries to avoid revolutions is so great that keep pumping is the strategy - but the ships, storage, tank trains, pipelines are full - and once there are no ships left for storage
the price may be incredible at retail gasoline especially with little demand for Heating Oil.
Kerosene for Military aircraft only expandable demand
Pump prices?
Even if crude oil was free, gasoline would still cost WELL over $1 a gallon.
It's all the other costs, from transport, refining, storage, retailing and TAXES.
Gee wiz, this saddens me like it does all of you...
ten