Video: Fresh fears over the size of Dubai's debt have sent shock waves through international markets, with major stocks and oil prices falling sharply. Dubai World, the country's largest conglomerate, wants to suspend payment on its sixty billion dollar debts until next May at the earliest. RT's financial contributor Max Keiser says the World is entering the Phase Two of the global economic crisis.
- "Gordon Brown And Alistair Darling are the Beavis And Buthead of the global finance markets. They are truly remarkable in their ability to pick losers."
Max Keiser clip from about 10 days ago, ostensibly on the Dubai default, but as usual with Max, everything is in play: UK banks, big problems in Spain, Greece and Eastern Europe.
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