The Death of Dubai

Profanity warning here, but I think it does sum up the death of Dubai given the economic circumstances of the day.

As people scramble for the exits in Dubai, there is no ‘key mail’, like in America, where people can often mail back their house keys and walk away from a mortgage without the immediate threat of jail. People are literally fleeing this place, to date leaving 3000 cars stranded at the airport with keys still in the ignition. And the reason for this is that if you default on your Dubai mortgage, you can end up in a debtors prison. Perhaps Dubai will at least create a new Dickens?

2 comments on “The Death of Dubai
  1. Never fear. The Dubai people are not the average in the Middle East. They will bounce back. It might take a while, but the chaff is getting separated from the wheat more than likely, and the best of the wheat will remain and persevere, by God’s grace. After all, they do practice free enterprise to a large extent, and especially “freedom of religion” by which, by God’s grace, they have been allowed to flourish for many years. if that does not change, and with the courage and wisdom of the people there, which also includes the majority of the leaders there, I think Dubai will stand firm. They will stay on top of the current down turn that so much of the world is enduring and will endure for years to come. Stand back and watch how Dubai keeps on keeping on and does well despite the ways of the rest of the world.

  2. Dubai’s collapse is unsurprising. A faceless city (country) which prides itself only on serving the richest of the rich will undoubtedly fall just as easily as the richers switch from one car to another. Building real estate with the sole purpose of selling it to wealthy white people was just not going to work out. They’d rather spend that money on some chic Greek or Spanish exotic island rather than in the middle of a hot desert with a conservative government.

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