Dubai is in serious financial trouble!!!

[polychronopolous]

Just go off the phone with Matt T. Between "schmoe squats", he assured me everything will be alright.

Fixed.

[MuscleMcMannus]

from what i heard, most of that money's owed to europe.

man, whoever went out there to the middle of the desert and told them building billion dollar hotels for tourists who can't wear anything but burkas was a good idea should get a medal.

No it's not owed to Europe it's owed to banks that were nationalized this past year England.  The English people are on the line for most of the money that has been lent to Dubai.  This was in the news today.  Citigroup is only on the hook for around $8 billion officially but I'm sure it's MUCH MUCH MORE. 

[gordiano]

Fixed.

LOL

[ToxicAvenger]

 but with the new alternative-fuel vehicles hitting the streets in a few years,

i dont see THAT happening...

now you r starting to sound like a damn liberal 

[TRIX]

lol at a country basing it's entire economy on tourism, so when its oil runs out they'll have something. No alcohol, strict rules, desert, heat. Doesnt seem like a great destination for a holiday.

[polychronopolous]

i dont see THAT happening...

now you r starting to sound like a damn liberal 

I think Goatboy's assertion is that it will and should be the Free Market that brings these energy efficient vehicles to the road rather than harmful beaurocratic regulations forcing Car manufacturers to produce them.

[Schmoe Buster]

What will Swampi do now?

Swampi the cocksmiths Dubai schmoes wont be able to pay for his oil and thong rountines

[Mr Nobody]

Swampi the cocksmiths Dubai schmoes wont be able to pay for his oil and thong rountines

Damn he will have to move to an economy where schomes have cash like florida chicks home state

[nicky.smth]

sami is going to have to move to Abu Dhabi

[Mr Nobody]

sami is going to have to move to Abu Dhabi

Is there a big schome population there?

[G o a t b o y]

I think Goatboy's assertion is that it will and should be the Free Market that brings these energy efficient vehicles to the road rather than harmful beaurocratic regulations forcing Car manufacturers to produce them.

Bingo.   Tesla Roadster and whitestar, Chevy Volt, Toyota's plug-in Prius and others, BMW's hydrogen cars (a few years further down the road)... they're coming.  Everyone knows the oil dries up in 30 years or so, and it takes at least 15 to cycle old cars off the road, so do the math.

[MAXX]

from what i heard, most of that money's owed to europe.

man, whoever went out there to the middle of the desert and told them building billion dollar hotels for tourists who can't wear anything but burkas was a good idea should get a medal.

+1

They invested all their oil money into a ghost city lol

[G o a t b o y]

lol at a country basing it's entire economy on tourism, so when its oil runs out they'll have something. No alcohol, strict rules, desert, heat. Doesnt seem like a great destination for a holiday.

The only way that concept stood a chance is if they banned Islam.

[MAXX]

lol at a country basing it's entire economy on tourism, so when its oil runs out they'll have something. No alcohol, strict rules, desert, heat. Doesnt seem like a great destination for a holiday.

I think they forgot to do market research  

fact is majority of people going to foreign holidays are middle class. They don't want to waste all their money on expensive hotels and materialistic garbage. Besides upper class aswell as middle class probably rather go to Europe or USA due to having better culture (ie. Non Muslim countrys)

[LatsMcGee]

I hear Dubai is in such bad shape they are considering moving to the Emirates. 

[TacoBell]

I hear Dubai is in such bad shape they are considering moving to the Emirates. 

Nah MattT will invest further to keep it in India

[JasonH]

Is there a big schome population there?

Abu Dhabi is the richer Emirate than Dubai because they've got all the petrodollars - Dubai has to rely on tourism and real estate now because they've only got 15 years of oil reserves left apparently.

[Tombo]

"Dubai has expanded with ambitious, eye-catching projects"

just use the hurtful words you fukken muslim sympathizers

"dirty old oil sheiks stupid fucking ideas"

[polychronopolous]

Abu Dhabi is the richer Emirate than Dubai because they've got all the petrodollars - Dubai has to rely on tourism and real estate now because they've only got 15 years of oil reserves left apparently.

LOL...."tourism"......Who wants to go to that shithole?

What in the hell is so great about Dubai, India anyways?

[ToxicAvenger]

I think Goatboy's assertion is that it will and should be the Free Market that brings these energy efficient vehicles to the road rather than harmful beaurocratic regulations forcing Car manufacturers to produce them.

hopefully he meant that....

side note...goatie talking camel jockey trash always strikes me as ironic since he's married to 1 

[Mr Nobody]

hopefully he meant that....

side note...goatie talking camel jockey trash always strikes me as ironic since he's married to 1 

Cisco is down on 23.38, I hope they can hang on.

[Alexander D]

DUBAI INDIA

[G o a t b o y]

hopefully he meant that....

side note...goatie talking camel jockey trash always strikes me as ironic since he's married to 1  

There's no irony here at all... my problem with "camel jockeys" isn't the people, it's the culture (and the religion that drives the culture).  My wife has no connection to that culture whatsoever.  She's an American who was born and raised in the US to a lily-white father and a mother who was born in Iran, but was raised in Europe and is Western in every respect.

[dr.chimps]

Dubai borrowed like there's no tomorrow to finance their grandiose construction-spree on the assumption that their oil revenues would never decline, only increase.  Banks were more than willing to lend to them on the same premise.  No one counted on the worst worldwide recession since the great depression siginficantly cutting demand for oil.  Now they can't pay their bills and they're fucked.  Sure it's temporary, but with the new alternative-fuel vehicles hitting the streets in a few years, their long-term future doesn't look bright.   They may all have to go back to fuccking camels and praising their pedophile prophet!

Um, no. They knew their oil resources were finite, so they tried to set themselves up as a global Mid-East tourism hub. Guess that's not going so well.   

[G o a t b o y]

Um, no. They knew their oil resources were finite, so they tried to set themselves up as a global Mid-East tourism hub. Guess that's not going so well.   

They knew their resources were finite in the long term, but they didn't expect revenues to crash in 2008/2009.  Neither did the banks.

Either way, they're fucked.