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Old 11-28-09, 05:07 AM   #1
patentcad
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The Big Mirage

Is disappearing.

How the Big Money of the world ever really bought into palm shaped artificial islands, 2000 foot tall skyscrapers and indoor ski slopes in the middle of friggin bumfark arabia I'll NEVER understand. Never made sense to me. This makes sense. On top of which, Dubai has no oil to sell. I mean, go figure. Nothing underscores the madness of the recent economic bubble quite so much as this. I watched that stuff in Dubai over the last couple of years thinking 'oh, this won't end well'. And it hasn't.
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Old 11-28-09, 06:13 AM   #2
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They're surrounded by rich people who aren't allowed to have any fun. It's like an Indian Casino in the middle of Manhattan. When the economy comes back, all that wacky stuff will, too, even if it wouldn't work anywhere else.
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Old 11-28-09, 07:09 AM   #3
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it was doomed to fail from the get go.
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Old 11-28-09, 08:33 AM   #4
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On top of which, Dubai has no oil to sell. I mean, go figure.
You'd think the banks would've made their uncles from the Emirates that did have oil countersign on all those loans. I guess it's just impolite to ask too many questions at that level of totally beyond high uh... finance.
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Old 11-28-09, 01:01 PM   #5
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Dubai could have been a good thing had their stupid religious zealots been thrown to the sharks centuries ago.

The country could have been a mid-east "Hong Kong" or "Monaco" for free trade and relaxation by the wealthy. Good location (location, location, location as my realtor says), low to no taxes, a populace that needs work, decent weather most of the time (some really bad storms off the Gulf at times though), deep water port facilities, financial ability to draw investment money, etc.

Instead they were stuck between zealotry and oil money. Which means that they can create but not use the facilities they built. Stupid, stupid stupid.
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Old 11-28-09, 01:13 PM   #6
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I'm trying to imagine who the F is going to occupy the nine ZILLION sf of empty office space they have created in the friggin desert.
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Old 11-28-09, 01:29 PM   #7
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this is what happens when you have a cock fight... of... well, massive proportions.
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Old 11-28-09, 01:31 PM   #8
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I'm trying to imagine who the F is going to occupy the nine ZILLION sf of empty office space they have created in the friggin desert.
I was wondering about the foreclosure auction on the palm-shaped islands.
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Old 11-28-09, 02:01 PM   #9
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Never made sense to me
Neither does people paying insane money to live in Manhattan.
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Old 11-28-09, 02:46 PM   #10
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Quiz:

1. Which country's overextended consumer based, greed driven economy caused the collapse of the world's economy?

2. Which economic failure was bigger, AIG or Dubai?

3. Why do we in glass houses throw stones?
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Old 11-28-09, 02:49 PM   #11
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I'm trying to imagine who the F is going to occupy the nine ZILLION sf of empty office space they have created in the friggin desert.
If you build it, they will ... OH snap! Never mind.

I recall that prez Bush was trying close a deal with Abu Dhabians for US port facilities. I still wonder if that was good, bad or indifferent news.
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Old 11-28-09, 05:16 PM   #12
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Is disappearing.

How the Big Money of the world ever really bought into palm shaped artificial islands, 2000 foot tall skyscrapers and indoor ski slopes in the middle of friggin bumfark arabia I'll NEVER understand. Never made sense to me. This makes sense. On top of which, Dubai has no oil to sell. I mean, go figure. Nothing underscores the madness of the recent economic bubble quite so much as this. I watched that stuff in Dubai over the last couple of years thinking 'oh, this won't end well'. And it hasn't.
look up vegas, las......
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