Despite the news out of UAE earlier this year that Dubai’s financial underpinnings were shaking from the tumult of the global economic crisis, the Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, has continued to operate his far-flung Godolphin and Darley racing operations with the same gusto as before. He’s been just as bullish on the breeding and sales ends, too, buying, for example, Medaglia d’Oro and high-priced auction yearlings as if the global financial crisis didn’t exist.
Well, it turns out that Sheikh Mohammed isn’t actually concerned about the global crisis, because he views it as a “passing cloud,” according to his website. The following is from an entry from today:
“UAE Vice President, Prime Minister and Ruler of Dubai expressed his optimism over the global financial crisis saying to the audience that the global financial crisis ‘is a passing cloud’ that will not stay longer despite pessimistic speculations and analyses by economists and financial experts. Sheikh Mohammed said he was upbeat and confident of the resilience and ability of the UAE government to join forces with the private sector to ride over the crisis.”
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