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Laid-Off Foreigners Flee as Dubai Spirals Down

gsdx

gsdx

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I was curious about that island community they built, and now they're building another one, even bigger than the first. I wonder if it, too, will sink?

I've watched many programmes about Dubai on Discovery and money didn't seem to mean anything to them. If they wanted it done, it was done. Hell, they even built an indoor ski hill! And one time, a major freeway was in the way, so they moved it a hundred metres or so.

Frivolous spending. And now, with the Burg Dubai. . .

attachment.php
 
I remember seeing a 60 minutes report that showed a lot of the houses on those manmade islands were empty when times were good. It was a place to run to when your own country got crazy. Now that the whole world is crazy you might as well stay home.
 
It was scary indeed to watch those documentaries in which happy poshy Spaniards, American, British, French... were living with their partners and kids in a bubble rolling down a slope ending in a cliff.
At least it was not the political, but only the economic terror that burst that bubble.
 
It's surprising because I thought it was one of the places that are not affected by the recession.
 
wastingmymind said:
It's surprising because I thought it was one of the places that are not affected by the recession.
Click to expand...

No place and no one is safe. Our Director on National Intelligence reported that the economic crisis, not terrorists, are now the largest threat. The crisis is destablizing governments, causing food and job riots, and generally scaring the shit out of people.

One reason no place and no one is safe is because no one knows what anything is worth anymore. So where do you put your money - if you have any. You don't put it in stocks, real estate, or oil. The safest investment right now are gov't bonds, but the US is printing so much money that even those bonds are not guaranteed.

Right now, those manmade islands are a heard of white elephants (nod to Belamy).
 
gsdx said:
I was curious about that island community they built, and now they're building another one, even bigger than the first. I wonder if it, too, will sink?

I've watched many programmes about Dubai on Discovery and money didn't seem to mean anything to them. If they wanted it done, it was done. Hell, they even built an indoor ski hill! And one time, a major freeway was in the way, so they moved it a hundred metres or so.

Frivolous spending. And now, with the Burg Dubai. . .

attachment.php
Click to expand...

wow, a city with NO trees.
 
Jasun said:
Oh my God.. this part is hysterical...




I guess if you don't care about human rights at all and just go to suck on the teat of evil riches, it serves you right what you get. I wonder if they can be extradited back to Dubai to get thrown in jail. That would be Karmic, eh?
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Karma shit is like the guardian angel: everybody has one hovering about and ready to act :rolleyes:
 
gsdx said:
Dubai is a desert. Not many trees there.
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You can plant htem, just like they did in Las Vegas and where not... you can find pics from the luscious nooks in Dubai but, like I said, that's just for the time being... :mrgreen:
 
It's a damn good thing the American people stood up and didn't let them take over our ports, isn't it?
 
Huh? You got two wars, AIG, and stock in some insolvent banks.
 
lurchinurchin said:
Well - they will have to ramp up their export processing zone and look at non-petroleum business as oil is replaced by green energy sources and as america cuts imports from middle east.
The tourism thing is fine byt let's face it - for most Dubai is a very long way. Also, if you look at pictures of it there isn't much apart from a bunch of hotels and a rather bleak beachfront area. Many beach/resort areas of the world are truly beautiful. Dubai isn't Hawaii or Belize for example in terms of beauty. Plus many looking to get away don't want to come to place with quite frankly ugly sjyscrapers - a concrete jungle in the desert. That area of the world was propped up very artificially by the temporary petroleum boom and now has crashed down.
I think it would not even be on the top 500 of the places I would like to visit.
Not only that but it's in an area of the world that is very unstable as far as attacks and ugly behavior.
But hey - it's warm there in january and of you are living in eastern europe and freezing to death it's relatively close by...
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if they change their laws into common sense & open minded laws ... people might go there for pleasure.
Porn producers might go there to produce porn using locals .
 
My backup plan in case the market crashed was my house, which was the case for a lot of Americans.
 
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