Stealing time from work (I am writing the schedule of quantities for an urgent project in Nablus ?, Samaria) I followed a link provided by Dennis Mangan and ended reading some entertaining comments on the Dubai debacle which was I was long expecting.
This will be the story that redefines "BLACK FRIDAY" for a generation to come.
Mark my words, it will cause a world wide equity and bond market crash puncturing the bond bubble in many nations and taking corporate bonds down from their lofty overvalued heights.
On that note, have a Happy Happy Thanksgiving!
I presecribe 1 bottle (750ml) of Wild Turkey to help digest the next 96 hours.....
Stealing time from work (I am writing the schedule of quantities for an urgent project in Nablus ?, Samaria) I followed a link provided by Dennis Mangan and ended reading some entertaining comments on the Dubai debacle which was I was long expecting.
7 comments:
It is true that Dubai has tanked, but you have to respect the chutzpah of the Gulf Arabs, putting all that money right under the Iranians' guns. I am sure that Dubai will be back, its the Islamic world's Monaco, Switzerland and Tahiti rolled into one and run by Arabs who put business first.
The concept of Dubai was wrong from the beginning. Dubai was not built on the work and effort of the people, but on foreign, imported labor. It is all artificial, unsustainable.
It is certainly built on confidence, and will evaporate on the lack of it.
Anon.
Dubai is built on an illusion. Its collapse was coming.
I never understood why anyone would want to vacation there - where you can get a life sentence for "adultery" or smoking pot- as opposed to a libertine Western retreat. Islam is against anyone having a good time.
Dubai is an astonishingly free place when you are coming from... Saudi Arabia or Yemen.
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