It’s cold out, so I’m avoiding it.
NOL: Homemade chicken soup, pizza toast, an orange. Yum.
Back to organizing Christmas stuff and making lists of other things to do.
GT
Honestly, not as scary as everyone in the West is making out. As much as Abu Dhabi is not immediately racing to bail out its glitzier neighbour, it would not be in its interest to allow one state to effectively pull the whole country (and with it, a large chunk of the region) under. Dubai World is a government owned corporation, so I think a lot of lenders handed over cash on the basis that it was quasi-sovereign debt, which is usually exempt from capital adequacy calculations (because sovereign debt is usually a safe bet, but it does weaken the lending bank’s capital reserves). The greatest concern (as I understand it) would not be from any immediate default/rescheduling issues for DW or Dubai, the state/emirate; rather it would be if any one lender was carrying so much DW debt that it collapsed under the burden of it, creating a Mid-East version of Lehmann Bros. Because the UAE (and Bahrain like it) markets itself as an offshore banking haven, this kind of thing would be disastrous. Accordingly, I anticipate that Abu Dhabi will drip-feed Dubai and its creditors for as long as is necessary to stave off immediate disaster.
In all truth, the signposts have been there for 18+ months that Dubai was heading for trouble. I recall reading early last year (before the GFC) that Dubai was heading for difficulty because there were billions of dollars worth of project financing debt (primarily real estate developments) that would be up for refinancing in late 2009, and appetite for RE was contracting; there would not be enough liquidity in the market to satisfy the amount of debt to be rolled over. The GFC just made a bad situation worse. This was not hidden - everyone knew it was coming!
As for Islamic finance, a lot is made of the fact that it has to be asset-backed (collateralised/secured debt) and is therefore immune to the types of problems caused by the sub-prime crisis; the greatest fear I have for it is that it is so heavily invested in real estate as an asset backing, that any financial collapse in this region would have a similar effect as in the US, with the markets being flooded with properties from pseudo-mortgagee sales. A glut of residential properties on the market, whether as a result of default by retail borrowers, or as a result of property developers going belly up, would cause the (relatively nascent) housing market to collapse and critically devalue Islamic banks’ security.
Sorry if that doesn’t make immediate sense, but it’s late, I’m tired and I have to fast tonight before my operation in the morning. Wish me luck - see you all post-op!
It’s snowing, and it’s sorta sticking. So much for rain all day and rain-snow mix tonight… And, of course, the cars are outside because **FCD **is working in his shop (the garage). No, he’s not working on my end tables - just more fish-related stuff. I wonder if I’ll get end tables before I die??
Just finished making 2 pairs of valences for the kid’s classroom, plus I hemmed 2 pairs of pants for her. I’ve got 16 squares that I need to join to make an afghan. I’m going to look up joining techniques to see if there’s something more interesting than just sewing them together. I also need to pull out a couple of DVDs because there’s nothing but crap on TV. All those channels and all that crap. Makes me wonder why we pay for HBO - it’s just more crap that costs extra. Oh well.
Off to finish my puzzle before yarning. Laterz…
{{{{Dotty}}}} Good luck on your surgery!
Good luck Dotty! Prayers, good thoughts and crossed appropriate/inappropriate appendages here!
Howdy Y’all! I came home after work and took a nap. It’s the weekstart!!! YAY!!!
I’s hongry but am waitin’ to eat for a while. We’re supposed to be at friends’ house for cookie party at six. They are servin’ heavy hors d’oeuvres, which translates into stuff like chicken wings, stuffded mushrooms and the like. MMMMMMMMM… always good!
Well, it’s been an interesting day here and I’m looking forward to pizza for dinner!
Good luck with the surgery,** Dotty**. Sending lots of good vibes your way!
{{{{{{{Dotty}}}}}}}
Good luck, Dotty; sending healing vibes your way as well as keeping you in my thoughts and prayers.
Oh it’s been a chilly, wet and now snowy day here. :eek: I think I’m going to make a crock pot chicken white chili tomorrow, though. I foresee cornbread to go with that. 
I have a very sore throat today. 
I’ve been gargling with warm saline solution, drinking lemon tea sweetened w/honey, and using chloroseptic spray and it feels -some- better. A cough makes it feel like it’s on fire, though. Gah!
Chinese food is being picked up for dinner! I’m having beef w/broccoli tonight, something different for me. Hope it’s good. LOL
I have a request. Please, everyone, watch NBC’s The Sing Off tomorrow (Sunday) night, and when it’s time to vote, please vote for the Sweet Adelines quartet Maxx Factor. Yes, they will be the best ones on the program.
**tarra **- beef with broccoli is good - you should like it.
We went to Salsa’s for supper, then to Lowe’s and PetCo for some stuff. It was raining in California, but as we came north to Mechanicsville, it turned to snow. Luckily, we have both cars in the garage, so when it drops to the 20s tonight, we should be good. The kids are in Fredericksburg - hope they’re very very careful driving home. It’s ick out there.
I’m going to get back to finishing my afghan - I should get it done tonight. I hope to get one more done before Christmas so I can take 4 to Mom to give to her AARP group. They’ll get them to Project Linus who will get them to kids. Yay!
Good wishes heading to {{{Dotty}}}!!
Off to assume the position on my comfy new couch…
One of Those Days, where everyone is tired and irritable. Except for Nat, who’s hyper. And QD is currently here, making five batches of cookies and a pffeffernuse recipe that has 20 cups of flour in it.
And Nat’s blood sugar is too low at bedtime. Again. Fifth day running. Agh. We didn’t even give him any insulin at dinner! On the bright side, it means he’s making a little of his own- but I’m tired of waking up my kid over and over every night.
Tomorrow will be better, right?
Survived work, Papa John cooked dinner. Canes won while I was at work. I saw a T-shirt that made me think of da bear: “Holy Swamp Baptist Church”
{{{{Dotty}}}}
{{{dotty}}}
snow snow snow snow!!!
The internets ated my post!
Li-Li - yes
Soapy - Noooooooooooooooooooooooooooooooooo!
Pie - it must have been hungry
Dotty - more hugs
Thanks for the quick analysis, Dotty. Very interesting. Hope the surgery goes really well. I’ll be thinking about you.
Made it out to get some groceries and the last ingredients for the cookies I need to make tomorrow.
And I’ve been knitting some more, of course. Sock is almost 1/2 done.
Sleepy. Should crawl into bed, I suppose.
Hugs.
GT
Sorta mostly slept in till 6. I was having a weird dream about a song that I wish I could remember. It wasn’t familiar, so obviously I composed it in my sleep - but now it’s lost. Dang.
The snow ended before 9 last night, and now it’s just coooooooooold - about 28°F. It’s starting to get light out, and I can see a few random patches of white, but nothing significant. But when we were at Lowe’s last night, I saw at least 2 people carrying snow shovels out in the 10 minutes we were there. Lucky for them, there wasn’t much snow, but they’re ready for the next time. I should probably get a couple more shovels, since there are 4 of us to attack the drive.
I don’t think I told you my bizarro work moment. I went to take a potty break, and in the stall I saw an empty paper roll whose contents were piled on the floor - kinda like when a cat unrolls your TP. But there are no cats at work - just supposedly mature adults. Apparently one got bored. Not only that - she couldn’t be bothered to toss the paper when she was done. I don’t get it… 
Anyway, I gathered it up and threw it away. That’s worse than picking up paper towels that don’t quite make it to the trash can - how can people just leave them on the floor??? Idiots. I’m surrounded by idiots.
I didn’t get my afghan finished last night, but all the squares are sewn together and I started the border. I should finish it easily today. That’s pretty much all I have planned. Well, except for the chicken I’m going to rotiss - it’s partially thawed, but I need to plop it in a bowl of water to finish the de-ice process.
Happy Sunday!!!
Good Mornin’ Y’all! Up, caffienated, brekkied and made a ‘nanner puddin’ even! Yeah, I was up at 5:30 am. Oh and I shall shortly go pour up two gallons of iced tea to take to Brunch Sunday. I’ve been a bizzy bear! Brekkie was cookies. Since last night was cookie party, I have a bunch of personally decorated sugar cookies and a bunch of other cookies our hostess sent home with us last night. MMMMMMMMM… what? There’s all kinds of nutritious stuff in cookies! 
We had (have, I guess cause it’s still there) our first frost last night. I guess that means it’s officially cold weather time.
doggio I want that tshirt!
ETA: I googled Holy Swamp Baptist Church. Is that near you doggio?
Up. Ready to clean the fridge then make cookies.
Back later.
GT