NVDL: I disagreed with him. This was prior to the crash, although I did pick up on the Hindenberg Omen (which is a well known predictor of a crash). MM pontificates on Dubai, using real time experience as 'evidence' of future time prosperity. Very silly. See the article below this one to see how quickly that fantasy unravelled.
MM: Regardless of how the current situation develops, we can take comfort that any bear market will not last long. NVDL: Interesting observation. I suppose on planet Mobius, there is a doughnut centre filled with an endless supply of cheap oil. Mr Mobius, cheap energy predicates growth, and growth predicates an increased use of energy, and yet in your article, you don't mention this limit to growth a single time. And Horton hellooooo, it's clear that the game has changed fundamentally. Food, energy, everything is more expensive. That's in the developing economies too.
Moving at a snail's pace in the Dubai traffic surrounded by the sparkling lights of construction cranes, I am forced to contemplate the recent fall in various emerging market stocks.
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