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-   Vancouver Off-Topic / Current Events (https://www.revscene.net/forums/vancouver-off-topic-current-events_50/)
-   -   Dubai is in deep shit (https://www.revscene.net/forums/597755-dubai-deep-shit.html)

CP.AR 11-26-2009 10:23 PM
TIME TO BID ON THOSE REPO'd LAMBOS

ZhangFei 11-26-2009 10:33 PM
and Vancouver isn't in trouble too?

we are pretty much screwed too. how are we going to pay for the olympics? what are we going to do with the rising house prices?

bengy 11-26-2009 10:42 PM
Quote:
Originally Posted by ZhangFei (Post 6702349)
and Vancouver isn't in trouble too?

we are pretty much screwed too. how are we going to pay for the olympics? what are we going to do with the rising house prices?
We'll leave your momma on a corner of East Hastings and come back the next morning?

achiam 11-26-2009 10:56 PM
Quote:
Originally Posted by StylinRed (Post 6701299)
welcome to a couple years ago
No, now its even worse - my friend who lives there told me property has dropped nearly 40% in value!

achiam 11-26-2009 10:58 PM
Quote:
Originally Posted by dinamix (Post 6701632)
Dubai will never go down..too much fuckin oil money there..the greedy sheiks just dont want to fork out their own cash...theyre just waiting to get baildout from abu dhabi..
Actually Dubai itself is relatively poor - Abu Dhabi is the rich emirate with oil (hence the repeated low interest bail out loans this year)

The_AK 11-26-2009 11:13 PM
I wonder how many people actually live in Dubai on a day-to-day basis like any other regular city. It seems like its only a city for the rich to get away to once in a while; no middle class that truly powers the city. Any thoughts?

dinamix 11-26-2009 11:57 PM
Quote:
Originally Posted by achiam (Post 6702404)
Actually Dubai itself is relatively poor - Abu Dhabi is the rich emirate with oil (hence the repeated low interest bail out loans this year)
doesnt dubai have the most profitable port in the world?
its where 90% of the worlds oil has to pass through

TekDragon 11-27-2009 08:41 AM
Quote:
Originally Posted by dinamix (Post 6701632)
Dubai will never go down..too much fuckin oil money there..the greedy sheiks just dont want to fork out their own cash...theyre just waiting to get baildout from abu dhabi..
You do realize that Dubai has the least oil of those in the UAE, right? The whole point of Dubai was to create something that would last and bring prosperity after the oil was gone.

StylinRed 11-27-2009 09:05 AM
Quote:
US shares slide over Dubai fears

US shares have opened lower on worries about Dubai's debt problems, with the Dow Jones index down 126 points, or 1.2%, at 10,338.49.

It was the first chance for markets in the US to react to news that state-owned Dubai World had asked for more time to repay its debts.

US markets were closed for a holiday on Thursday when other world markets suffered steep losses.

However, the main European markets recovered from earlier falls.

The main share indexes in the UK, France and Germany had all fallen by more than 3% on Thursday. But after falling further in early trade on Friday, the UK's FTSE 100 closed up 1%, and both Germany's Dax index and France's Cac 40 were up more than 1%.

Earlier in Asia, Japan's Nikkei index had closed down 3.2% and the Hong Kong Hang Seng ended 4.8% lower.
http://news.bbc.co.uk/2/hi/health/8383471.stm






Quote:
Originally Posted by achiam (Post 6702400)
No, now its even worse - my friend who lives there told me property has dropped nearly 40% in value!
yeah it was like that a year ago, problem has been coming for awhile and most ppl ignored the obvious signs

AzNightmare 11-27-2009 10:08 AM
So are they going to nuke their palm tree islands?

Liquid_o2 11-27-2009 10:11 AM
Quote:
Originally Posted by The_AK (Post 6702422)
I wonder how many people actually live in Dubai on a day-to-day basis like any other regular city. It seems like its only a city for the rich to get away to once in a while; no middle class that truly powers the city. Any thoughts?
The population of Dubai is very small.

About 15% to 20% of the population are actual Emiratis, with most of the
Ex-Pats being transient Construction Workers (the majority of which are Indian and Pakistani).

Meowjin 11-27-2009 12:54 PM
as someone said on another site.

"hahaha eat shit you phallus building fucks"

tiger_handheld 11-27-2009 01:01 PM
wait till Oil reaches $140 again. the a-rabs will be laughing...

bimmer91 11-27-2009 01:11 PM
Quote:
Originally Posted by ZhangFei (Post 6702349)
and Vancouver isn't in trouble too?

we are pretty much screwed too. how are we going to pay for the olympics? what are we going to do with the rising house prices?
how? we have about 2 million tourist coming here.

q0192837465 11-27-2009 02:54 PM
Dubai has been expanding on minimal capital & A SHIT LOAD of debt. This kind of capital structure will inevitably tumble in times of recession. I'm sure most ppl see it coming.

CP.AR 11-27-2009 04:09 PM
Dubai operated on a virtual economy... everything was credit on top of credit on top of credit. It works when everybody can see a bright future, but once there's a hint of speculation - YOU ARE FUCKED MY FRIEND


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