Is Dubai the next bubble to go bust?

Dubai is on the verge of defaulting on its 50 billion pound debt. This could be the latest bubble and trigger off the next down leg in the market.

http://www.thefirstpost.co.uk/56620,business,is-dubai-about-to-default-on-its-50bn-debt

All around we are surrounded by bubbles. Gold, crude oil, stocks. When the next leg of the bear market gets underway it is going to be a bloodbath.