"Dubai is a giant ponzi scheme"

So says "a hot tip from within the international intelligence community":
A hot tip from within the international intelligence community: "Dubai is a giant ponzi scheme that will make Bernie Madoff look like small change. Many rich and famous people will lose a major packet."
Now that the tarnishing has begun, the so-called City of Gold may need a new nickname: Copper Country.
Dubai's ruler "Sheik Mo" lured multinationals to headquarter in his "global financial center" with huge tax-free advantages -- and snared investment money, too. Most of the development resulting in the world's tallest buildings was financed by foreign loans that cannot now be repaid because of rapidly falling real estate prices...
Britain is also a Ponzi scheme:
Albert Edwards, a strategist at Société Générale, likened the British economy to a Ponzi scheme — a fraudulent debt mountain like that allegedly used by the New York hedge fund manager Bernard Madoff.
A hot tip from within the international intelligence community: "Dubai is a giant ponzi scheme that will make Bernie Madoff look like small change. Many rich and famous people will lose a major packet."
Now that the tarnishing has begun, the so-called City of Gold may need a new nickname: Copper Country.
Dubai's ruler "Sheik Mo" lured multinationals to headquarter in his "global financial center" with huge tax-free advantages -- and snared investment money, too. Most of the development resulting in the world's tallest buildings was financed by foreign loans that cannot now be repaid because of rapidly falling real estate prices...
Britain is also a Ponzi scheme:
Albert Edwards, a strategist at Société Générale, likened the British economy to a Ponzi scheme — a fraudulent debt mountain like that allegedly used by the New York hedge fund manager Bernard Madoff.