Laid-Off Foreigners Flee as Dubai Spirals Down

http://www.nytimes.com/2009/02/12/world/middleeast/12dubai.html?_r=1 ^

[OldDeckHand]

"Can’t their “brothers” in Saudi Arabia spare a dime?"

That's what the so-called Palestinians have been saying for decades.

This is actually not good news. UAE, along with Turkey, was one of the few prosperous Muslim countries that didn't have either a petrol or narco based economy. The ruler there (name escapes me), is fairly progressive as far as Muslims go. It would have been nice to actually have a country in that region that had an economy based on tourism, trade and retirement living. It's too bad that it appears it was a house built entirely of smoke and mirrors.

[Liberty Valance]

[shadowcat]

I remember when he sold his house in Las Vegas.

2 blocks from where I was leasing a townhouse.

LMAO

[OldDeckHand]

"I can't help but feel some schadenfreude... "

Hey, I'd much rather have the muzzies building big-ass buildings dripping with pomposity and hubris, than have them sink ever single dollar into weapons of mass destruction.

Sure, the entire country was built with what could be described as slave laborers or indentured servants, but they were also building a middle class as well.

[Westlander]

Babel.

[BallyBill]

Sounds like a place ripe for Muslim Radicals to move in. Ask all these infidels to return to Mecca and strap on the virgin belts.

[garyhope]

Was this an article about debtors prisons in the middle East or Dubai or just an article about the debt default? I couldn’t get the link to work.

[garyhope]

Good point.

[Cicero]

So, it’s get out of Dubai quick or get thrown into debtor’s prison.

And the NY Times story was written partly by someone in Dubai, but they’re not naming him because they don’t want HIM thrown in jail.

Nice. And this is supposed to be one of the more civilized Muslim countries.

[spokeshave]

"But if you get into debt in a Muslim country you go to jail?"

Yeah...and you need an Exit Visa to leave.....

If you boss (owner) gives you back your passport.

[R_Kangel]

I dunno about you but since everybody wants us to close down Gitmo maybe this would be a great place to build a new Detainee Prison. LOL

[org.whodat]

Lady who in their right mind would want to live there.

[wideminded]

http://www.freerepublic.com/focus/f-news/2184212/posts

[BobL]

And still, not even a story about the mass slavery going on in that country. Look up “Slavery Dubai” on Google.

[rbg81]

Wait till prices hit rock bottom, then pick stuff up-—cheap.

[headstamp 2]

Do they have any coastal storms there?

What’s the elevation, 4 inches?

[org.whodat]

Come to think of it if we sent all of our illegals there they could help fill up all of those empty half built buildings.

[org.whodat]

Reminds me a little of Nicolas Cage’s excessive spending like there is no tomorrow.

The man is a butt sorry actor.

[chris_bdba]

I’m astounded that so many would go into debt without knowing the laws of the country. Crazy people!

[sionnsar]

An apartment for $300,000 with a 15-year mortgage? I'd have 20 prime mountain acres with a trout stream and a 3BR log chalet you wouldn't believe..............!

Yah, but you wouldn't be in God's own country -- Dubai.