From what I have read, and on a more limited basis observed, there are certain behaviors which occur at the top of markets.  For example, the top of a business may be marked by the building of a lavish headquarters only to be followed by the sale and partial leaseback of same from the new owners (e.g., Radio Shack and Pier One locally both of whom built very nice headquarters … right before the market turned, their stock fell and they had to sell them and lease back office space from the new owners).  Here is a an article on the opening of the world’s tallest building which is located in Dubai, the country that just defaulted (although that is likely the wrong legal term for what happens when one does not pay “interest” on this kind of Islamic debt instrument) on billions of dollars in debt. 

 “Under construction since 2004, the opening of the steel-and-glass landmark has unofficially been put back from late 2008, but no further delay is likely for fear of loss of face by Emaar, which has not escaped the impact of the global property downturn.  It is keeping quiet about how many tenants it has found for the 160-storey building and the company’s plan announced in June to merge with state-owned Dubai Holding gave the impression that stock-market listed Emaar was not in the healthiest financial condition.  That impression was reinforced on Thursday by ratings agency Standard and Poor’s Corp, which included both Emaar and Dubai Holding among six state-linked companies it downgraded to junk bond status.”

 Here is a link: http://www.breitbart.com/article.php?id=CNG.1433247da714fd1ce569b946f4746c07.b1&show_article=1

 Michael