Monday, November 30, 2009

Dubai

Its built on the promise of 15% annual Capital growth . No industry , limited Oil a dreadful climate .Nothing whatsoever to recommend it except no planning restrictions which makes the property worthless .If this bubble is still bursting how many more are there in the system I wonder and how much have the Banks got invested over there via ingeniously contrived paper trails .

So farewell then Dubai
You were built on sand
Now you have sunk
We will rember the gag
' don`t buy'
When you are forgotten

8 comments:

Bill Quango MP said...

Thank goodness I didn't take the Dubai option. Looked long and hard at it but decided whole region was too volatile.
To think, back in '05 all we had to worry about was terrorism.

Happy days.

{Haven't seen any green/eco spout about Christmas lights destroying the planet yet. 1st December is open season. From tomorrow if you spot any feel free to blast away. Both barrels.

Newmania said...

On the other hand there will be the crop of Christmas banned stories (equally preditable migratory pattern )

Oh at the last count I have used your River Kwai gag 157 times

david cameron's forehead said...

The fall of Dubai really reminds me of a certain track:

http://www.lyricsfire.com/viewlyrics/rainbow/stargazer-lyrics.htm

A tower of stone indeed.

Bill Quango MP said...

I'd forgotten that one.
Talking elsewhere about this possibly being the last decent Christmas boom for a few years due to import prices and inflation/interest rates and the number of empty units on Oxford street I wrote..

"The fairylights are going out all over Europe. We shall not see them lit again in our lifetime"

I thought that pretty good but was met with tumble weed silence. There aren't many good economic lines. Mervyn King would kill for that at the CBI banquet.

Newmania said...

I have had converstions with Taxi drivers a little like that DCF

Take me back, take me back
Back to my home, oh, oh...


Yup thats me ....

Like it BQ ..rats cannot think of one .mmm ..nope

Newmania said...

I have had converstions with Taxi drivers a little like that DCF

Take me back, take me back
Back to my home, oh, oh...


Yup thats me ....

Like it BQ ..rats cannot think of one .mmm ..nope

electro-kevin said...

Richard Littlejohn reported today:

Morgan Stanley sold his shares just before the 1930s crash ... because his shoe shine boy started giving him tips on the markets.

Richard Littlejohn avoided investing in Dubai when his barber told him he was buying a flat there.

Oh, I know. Richard Littlejohn ... me ... kinda diminishes the argument.

Aw shucks.

Newmania said...

Got it

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