Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Gee, I wonder how this happened? Maybe, because of all the super skyscrapers they didnt need, the underwater hotel, the artificial islands, the mega shopping malls, etc. Dubai was like Disney combined with Vegas on some kind of super steroid. All built on slave labor and shoddy construction. The city was just a mirage, and now the desert will reclaim it.
Agreed.
The working conditions for the construction staff are atrocious. $4 a day for working in temperatures often exceeding 50 celsius/122 Fahrenheit and numerous deaths, people having their passports confiscated etc etc. Slave labour indeed. Disgusting.
As far as what lies ahead for Dubai, well like many others, I am reminded me of the sonnet "Ozymandias" by Shelley:
"I met a traveller from an antique land
Who said: Two vast and trunkless legs of stone
Stand in the desert. Near them, on the sand,
Half sunk, a shatter'd visage lies, whose frown
And wrinkled lip, and sneer of cold command
Tell that its sculptor well those passions read
Which yet survive, stamp'd on these lifeless things,
The hand that mocked them and the heart that fed.
And on the pedestal these words appear:
"My name is Ozymandias, king of kings:
Look on my works, ye Mighty, and despair!"
Nothing beside remains. Round the decay
Of that colossal wreck, boundless and bare,
The lone and level sands stretch far away"
On a related story, I bet on black at the Bellagio roulette table with my life savings and I won a fortune!
Sorry to hear. You ought to try the market it's a much better casino. Vegas is for seniors from Iowa, stooges and people with fu money who like to lose it in style.
the UAE's "arab brother" Saudi Arabia should bail them out
The UAE as a whole is fine; it's the Emirate of Dubai that can't pay its debts. Abu Dhabi's sovereign wealth fund is worth around $700 billion and rising from oil revenues. But I wouldn't expect them to bail out Dubai - or at least not until their debts are being sold for pennies on the dollar.
Sorry to hear. You ought to try the market it's a much better casino. Vegas is for seniors from Iowa, stooges and people with fu money who like to lose it in style.
No way...there is no better casino IMO than the Bellagio. Maybe the Venetian is a close 2nd. Wall St. is a boring way to bleed chips on technical trading. No way you're going to lose money in style playing day trader. Oh yeah, the rule on the internets is that you have to establish a track record for anyone to believe you actually make money doing technical trading. You have no such track record on CD yet, so no one believes you. Reverse psychology (e.g. "fine, don't believe me") doesn't work either. Have a great day my friend...
Last edited by summers73; 11-28-2009 at 06:03 AM..
Gordon Brown should be proud that he was able to engineer the transfer of Dubai debt from the private sector to the UK taxpayer vis-a-vis Bank of Scotland.
Nov. 26 (Bloomberg) -- 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.
Gordon Brown should be proud that he was able to engineer the transfer of Dubai debt from the private sector to the UK taxpayer vis-a-vis Bank of Scotland.
Yes - the UK bank exposure is estimated to be at least 50% of that $80bn I also think there's a lot more debt outstanding in Dubai than we've yet been told about. The UK taxpayers are f*cked
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I also think there's a lot more debt outstanding in Dubai than we've yet been told about. 
The UK taxpayers are f*cked 
