For some reason, spending billions on skyscrapers and man-made palm-shaped island leads to...debt! So far, the Dow Jones, S&P 500 and Nasdaq have fallen at least 1% (even up to 2% as soon as the markets opened today), due to, as the Wall Street Journal puts it, "fears...about the potential fallout of debt prolems at Dubai World, the city-state's largest corporate entity, which asked creditors for a six-month stay on repayment of its $60 billion in debts." UBS actually estimates that Dubai's overall debt may be over $80 billion.



