Holiday Aftermath Day [Updated]

The Thanksgiving holiday in the US has now ended; if you celebrated it with family, friends or in solo form, let us know how it went. (We live vicariously through the experiences of others.)

In terms of interesting news that occurred over the holidays, apparently Dubai World is in danger of defaulting on a $60 billion in loan repayments (hat-tip Jimdotz @ DailyKos):

DUBAI, United Arab Emirates - Just a year after the global downturn derailed Dubai's explosive growth, the city is now so swamped in debt that it's asking for a six-month reprieve on paying its bills — causing a drop on world markets Thursday and raising questions about Dubai's reputation as a magnet for international investment.

The fallout came swiftly and was felt globally after Wednesday's statement that Dubai's main development engine, Dubai World, would ask creditors for a "standstill" on paying back its $60 billion debt until at least May.

This, of course, is not something the financial sector would give thanks for, as it gives the term "Black Friday" a more ominous shade of meaning (hat-tip Moby for the analogy).

[Update: For more information and a useful update about why this isn't a reason to panic, go here.]

In other news,

That's it for now. What's eating you?

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