Dubai stalls, Niall Ferguson questions the rally and Nouriel Roubini sees bubbles.

• The Economist. Dubai’s debt: Standing but still standing. “One of the biggest events in the Muslim calendar, Eid al-Adha, which begins this weekend, is supposed to be a festival of sacrifice. On November 25th investors in Dubai were given an early chance to get into the spirit of things.”
• The New York Times. Dubai debt troubles push down stocks in U.S. and Asia. “Wall Street ended the day lower on Friday, reacting to reports that Dubai World, the emirate’s investment vehicle, was seeking to suspend repayments on all or part of its $59 billion in debt for six months.”
• Bloomberg. Dubai debt delay rattles confidence in Gulf borrowers. “Dubai shook investor confidence across the Persian Gulf after its proposal to delay debt payments risked triggering the biggest sovereign default since Argentina in 2001.”
• The Aleph Blog. Dubai? Do sell? “There are always areas of excess in every market boom phase. Dubai is an example of that.”
• The Globe and Mail. What Niall Ferguson thinks now. “There’s nothing like a long-running equity rally, a return to something resembling normalcy in the credit world and fresh signs of economic recovery to lift the gloom of a dreary late November day.”
• The Globe and Mail. A tale of two American economies. “While the United States recently reported 3.5 per cent GDP growth in the third quarter, suggesting that the most severe recession since the Great Depression is over, the American economy is actually much weaker than official data suggest.”
• National Post. Roubini sees bubble as money chases commodities. “Nouriel Roubini said investors are ‘chasing commodities’ and there is a risk of new asset bubbles emerging as stock markets and commodity prices surge amid record-low lending rates.”
• National Post. Great Recession will weigh on Canada for years: Safarian. “Canada has survived The Great Recession, but its effects will weigh on this country’s fortunes for years to come, says Ed Safarian, one of Canada’s most highly regarded economists and the author of a seminal text on how this country endured the Great Depression.”
• Canada.com. Canadians can’t shop their way to recovery, say economists. “The robust retail data for September suggest domestic consumption was strong enough to help Canada post positive growth for the third quarter and, technically, pull the country out of a recession.”
• The Business Insider. Black Friday sales frenzy explodes as Americans kiss recession goodbye. “Judging from the fire hose of tweets this morning, Walmart is doing some brisk Black Friday business.”
• Reuters. Canada private equity braces for double dip. “Private equity investors are planning for the possibility Canada’s economy will struggle to emerge from recession, even if it turns in a positive third-quarter performance, money managers said on Tuesday.”
• examiner.com. Canadian economic indicators surge higher and point to economic expansion. “With Canadian employment insurance claims continuing their downtrend, retail sales beating the consensus estimates and new home prices surging upward, the Canadian economy is clearly moving toward a sustainable recovery and out of the current recession.”
• Million Dollar Journey. Case study: Retirement soon, RRSP or mortgage? “Kayla from PEI emailed me for some advice about her financial situation. She is 50 with a mortgage and small RRSP. She’s wondering where she should focus her money as she hopes to retire when she is 55.”
• Frugal Dad. How much do I need to retire? “The first step in retirement planning is to estimate how much money you need to retire. This is actually a fairly straightforward task because there are simple mathematical formulas and easy-to-use online retirement calculators designed to help you.”
• Moolanomy. How much debt is too much? “While there are many different opinions as to how much debt is too much, the two ratios below are the most widely used measures of how much debt is manageable.”
• Suddenly Frugal. Tipping in today’s economy. “Last year I chose not to give out tips to the individuals I normally would have tipped at the holidays – trash collector, postal service person, newspaper delivery dude – as a way to save money.”
• Wise Bread. 5 easy ways to save some green this holiday season. “Given that Christmas has become a $400 billion annual spending spree here in the U.S., sometimes I think Scrooge had a point during his ‘bah humbug’ period.”
• The Washington Post. The gift of not giving. “Another huge, value-destroying hurricane is about to slam America, destroying billions of dollars of value. Another Katrina? No, another Christmas.”

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