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TOPIC: Remember all those Dubai threads a year ago?

Remember all those Dubai threads a year ago? 10 years 2 months ago #383719

  • Burr
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They're not looking so hot now..
DUBAI, United Arab Emirates – For years, Dubai seemed unstoppable, an oasis of excess boasting indoor ski slopes and manmade islands, the world's tallest tower and dreams that reached even higher.Now the bills are coming due, and the emirate's debt problems are tarnishing a place built on borrowed time and money — and threatening to spill into other Gulf Arab nations.State-owned conglomerate Dubai World's call for a delay in repaying some of the $60 billion it owes creditors will likely make international investors view even more fiscally conservative countries through a lens of uncertainty, analysts say.The announcement is "impacting everybody in the region — the good and the bad," said John Sfakianakis, chief economist at Saudi-based Banque Saudi Fransi-Credit Agricole Group.
Dubai World's announcement that it was seeking at least a six-month delay in paying back its debt sent shock waves around the world Friday. Oil prices dived to near $74 per barrel, and Asian markets tumbled for the second consecutive day. In the U.S., the Dow Jones industrials lost more than 150 points.Dubai's overall debt load is seen as at least $80 billion, underscoring how grave Dubai World's announcement was for the emirate's financial health.Later comments by one of the emirate's top financial officials that the call for a delay was a "sensible business decision" and "carefully planned" did little to mitigate the damage.Henderson said it was "an extraordinarily arrogant decision," made public on the eve of Thanksgiving in the U.S. and just before a three-day Islamic feast."It's impossible they don't realize this will be taken as a personal insult by the world's financial community," Henderson said, adding that it would not be surprising if creditors were unsympathetic.
Maaaaybe they shouldn't have splurged on so many ridiculous skyscrapers and artificial islands.. Just maybe.
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Remember all those Dubai threads a year ago? 10 years 2 months ago #383720

  • Token White Guy
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I heard about this a few months ago. All the resorts they built are molding and breaking down.
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Remember all those Dubai threads a year ago? 10 years 2 months ago #383721

Maybe it's the fact that I don't fully grasp how this will affect the United States in the longterm, but... this made me really, really happy.
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Remember all those Dubai threads a year ago? 10 years 2 months ago #383722

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MaximusPaynicus;383721 wrote:
Maybe it's the fact that I don't fully grasp how this will affect the United States in the longterm, but... this made me really, really happy.
Because we aren't the only ones in debt?
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Remember all those Dubai threads a year ago? 10 years 2 months ago #383723

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MaximusPaynicus;383721 wrote:
Maybe it's the fact that I don't fully grasp how this will affect the United States in the longterm, but... this made me really, really happy.
The UAE being crippled financially should drive down the prices of everything they export as they struggle to raise some capital. Oil, opium, marijuana, and terrorism firesale. Who knows, we might even be able to buy our way in for our most wanted witch hunt.
-Oomba, M.D., Captain U.S. Army
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Remember all those Dubai threads a year ago? 10 years 2 months ago #383726

Thought it was a stupid idea to begin with. Personally, if I was rich as fuck, I wouldn't want to be anywhere near the middle east.On top of that, most durkas spend their money on AK47s, RPGs, or plastic explosive.
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Remember all those Dubai threads a year ago? 10 years 2 months ago #383727

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Gene Starwind;383726 wrote:
Thought it was a stupid idea to begin with. Personally, if I was rich as fuck, I wouldn't want to be anywhere near the middle east.On top of that, most durkas spend their money on AK47s, RPGs, or plastic explosive.
Now Gene, you are being a racist and ignorant. Most Durkas in the UAE spend their money on underage girls and American weapons.
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Remember all those Dubai threads a year ago? 10 years 2 months ago #383728

Token White Guy;383727 wrote:
Now Gene, you are being a racist and ignorant. Most Durkas in the UAE spend their money on underage girls and American weapons.
You're both wrong. Most Durkas spend their money on fake gold chains and pastel leisure suits. Seriously, they all dress like Don Johnson, it's freakin' weird.
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Remember all those Dubai threads a year ago? 10 years 2 months ago #383736

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MaximusPaynicus;383728 wrote:
You're both wrong. Most Durkas spend their money on fake gold chains and pastel leisure suits. Seriously, they all dress like Don Johnson, it's freakin' weird.
That's because they come into the American Culture soo late, in 20 years they'll all be wearing Sagging pants and Bling Chains.I kinda knew that this would happen, WHO has money to spend going there? Even the rich and famous and trying to save a bit of what they still have nowadays. They've been saying for a few months that it's been kinda like a ghost town there now. Maybe with Airplane flights being cheaper, they should start letting averaged Joes (yeah, even you JoE :p) visit it for once. Did they ever build that Disney World over there?
"Leave Luck to Heaven"- Nintendo
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Remember all those Dubai threads a year ago? 10 years 2 months ago #383746

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MaximusPaynicus;383728 wrote:
You're both wrong. Most Durkas spend their money on fake gold chains and pastel leisure suits. Seriously, they all dress like Don Johnson, it's freakin' weird.
He is correct
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