triplesvopen16 Feb 2010 09:10
Things generally appeat to be steadying. The one looming problem on the horizon is the spoil brat Sheik Maktomb, ruler of the cardboard state of Dubai. Now, this character is an odious little man, and I see a battle royale, (to use a pun) between him desire for independence, and the central government in Abu Dhabi who want to centralize the country and to 'normalize it' more than it currently is. This means there will likely be a tug of war between the people with the cash (Abu Dhabi) and those with the debts (Dubai). To force his hand, Abu Dhabi will call his bluff at some point and let him sink in his debts. Being a spoil brat, Maktomb will default, and we are back to the previous hurricane that hit in November. Qinetic will take a hit with the broader maket, but it won't last. This is a good time to pick up bargains, and I have placed a limit to buy Barclays at 190 p. I know, this scenario sounds outlandish, but the Greeks are grumpy but mature and absolutely determined to deal with the problem and remain in the Euro. The Greeks are not the problem. They will pull through. It is the spoilt brat of Dubai that will lick the markets. That is my prediction. When will it happen? Who knows. But like I say, it will be a massive hurricane that will last for say 3 days, and then alleviate.