Al-Qaeda and the war on terrorism deserve some of the credit for this boom. Since 9/11, many Middle Eastern investors, fearing possible lawsuits or sanctions, have pulled up stakes in the West. According Salman bin Dasmal of Dubai Holdings, the Saudis alone have repatriated one-third of their trillion-dollar overseas portfolio. The sheiks are bringing it back home, and last year, the Saudis were believed to have ploughed at least $7 billion into Dubai's sand castles.
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Really?
And we haven't noticed ,a massive dearth of funds?
Checked the NASDAQ or DOW lately?
The downturn going on the past few weeks is late to be caused by 9-11, and is not so bad that it is outside the norms of fluctuation .
WE have discussed the withdrawal of foreign funds from our treasury bonds before , if it has to happen, it might be good to have it happen gradually.
