Dubai’s Dramatic Drop--Tough times ahead for the oil-rich Muslim statelet.

http://www.frontpagemag.com/Articles/Read.aspx?GUID=CBEA34CE-BB71-48E4-86D0-EE7FA35CF988 ^ | Daniel Pipes

[2banana]

Dubai...biggest bubble ever.

In 50 years or less, the ME oil is going to run out. Then they will go back to living in the 7th century WITHOUT the west's money and talents...

[SJackson]

Middle East and terrorism, occasional political and Jewish issues Ping List. High Volume

If you'd like to be on or off, please FR mail me.

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Wonder if they want to buy some ports.

[Venturer]

I have a great idea. Since these places are already built and half empty. send the Gazans there.

This is a much more pleasant place than Gaza. The buildings are modern , and Gazans arent working doing anything that should stop them from going. Don’t repair Gaza, send them to this modern ghost town.

[sitetest]

“...send the Gazans there.”

It’d be a slum within six months.

[bereanway]

My understanding is that Dubai has no oil revenue unlike say Abu Dhabi. From an earlier WSJ article it sounds as if Abu Dhabi is not extending any financial help to Dubai and may well come in and buy some of these assets for pennies on the dollar.

I’ve also heard those manmade islands in the form of Palms and I believe another island project designed to look like a map of the world are literally sinking. I’d always wondered how successfully from an engineering viewpoint those small intricate islands could be built. Getting proper compaction on engineered fill is not always easy on dry land much less in a gulf. I know the huge indoor ski slope was filled with engineering and construction problems.

[MplsSteve]

BUMP for later reading...

[SJackson]

I’ve also heard those manmade islands in the form of Palms and I believe another island project designed to look like a map of the world are literally sinking.

That's interesting, I believe the island airport they built in Japan is sinking slowly too, but they can afford to "jack" it up when needed.

[dfwgator]

some see it “as though it were a con game all along.”

Gee, ya think?!?!

[Richard Kimball]

Links to stories of the two island projects (click on the pictures):

Palm tree islands.

World map Island.

My name is Ozymandias, King of kings. Look on my works, ye mighty, and despair.

[G8 Diplomat]

Those are really cool. I wanted to visit Dubai and see those palm tree islands and go skiing in the desert. But with the economy tanking and instability setting in, I don’t think I’ll be over there any time soon.

[happygrl]

Money doesn't buy class.

Look at our own Kennedys, for example.

[hunter112]

I have a great idea. Since these places are already built and half empty. send the Gazans there.

It would look like "Urban Renewal" projects of the 1960's!

[Cronos]

Nice pick from Shelley's poem about Ozymandias

In contrast I always point out the tomb of Cyrus the Great, the great Persian Shah who conquered the entire known world (except Egypt). He built a tomb and over it inscribed:

"O man, whoever you are and wherever you come from, for I know you will come,
I am Cyrus who won the Persians their empire.
Do not therefore grudge me this little earth that covers my body."

and he has a small, dignified tomb in Pasargadae

[FBD]

ping
I am deeply saddened at this news...
;^)

[monday]

Dubai’s biggest problem is that they are Muslim. It’s at the top of the list of problems facing every Muslim.

[monday]

“In 50 years or less, the ME oil is going to run out.”

No one is running out of oil, least of all in the middle east, however 50 years is a long time. Consider all the technical advances made during the last 50 years. It’s quite possible, perhaps even likely, that oil will no longer be an important energy source in fifty years time.

[SupplySider]

I wonder how many “Palestinians” could have been given nice homes and lifetime pensions with what the indoor ski slope cost.

[MilspecRob]

Proving that money cant buy taste

[Venturer]

Who cares.?? Send them there, let the Arabs worry about them if they love them so much.