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Getting out of hand


Sam1647545489

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They are pissing the money away now while they have it...

 

When the oil reserves go dry that will be the first thing to be scrapped for aluminum and copper wire..

 

OMG DETROIT SAME THING

 

(book-cadillac hotel, statler, michigan central station, all that happened)

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I thought Dubai was going through some serious economic shit? Guess not.

They are. Like Avenger said, most of the floor space in the city is vacant. But in spite of the fact that their economy has gone stagnant, there's still a shit-ton of oil money there. It's just not moving around. So, the Sheiks are still building their toys. They're probably hoping that once this recession/depression blows over that business will pick up again.

I think they're in for a shock though. I don't think Dubai is ever going to recover fully. The super-rich are the only ones who can afford to stay there, and the super-rich are fickle motherfuckers. The novelty of Dubai has worn off. They can't downscale to catering to the merely wealthy, and they have no attractions geared to the middle-class.

Dubai is a totally artificial tourist attraction, like Las Vegas. They built a city in a desert where there are no natural draws for tourists. Las Vegas survives because of the party atmosphere that Dubai's cultural laws make almost impossible. Sure, Dubai has a beach, but a beach palls as fast as a tourist sunburns. Other than that, they have...sand. Even the hotels and towers, as extraordinary as they are, can only hold someone's attention for a day or two.

 

Dubai is fucked. It's probably destined to become the world's most expensive ghost town.

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