Well a lot of the ones who have bought property and can't afford the bills. Flee, or Prison? You decide.
Story here
Story here
Not sure what to believe. I listen every day to a business programme similar to wake up to money on Radio 5 and its certinally not all doom and gloom. Remember the UAE has massive reserves, no toxic debt and no sub prime lending. Many projects here are long term investments; 40 years+ not simply overnight.
At the weekend, every mall we have been to has been busy. When viewing our apartment, we were amongst many and had to leave a deposit on the spot. I have also joined a local forum (no where near as friendly as V-flyer) and again there are mixed messages. Its funny that with so many people leaving, no one seems to know who they are.
Government spending in Dubai has increased by 11%, with a view of spending its self out of trouble. In conclusion, it is felt that 2009 is going to be bad, but will improve in 2010.
Thanks
Jeremy
At the weekend, every mall we have been to has been busy. When viewing our apartment, we were amongst many and had to leave a deposit on the spot. I have also joined a local forum (no where near as friendly as V-flyer) and again there are mixed messages. Its funny that with so many people leaving, no one seems to know who they are.
Government spending in Dubai has increased by 11%, with a view of spending its self out of trouble. In conclusion, it is felt that 2009 is going to be bad, but will improve in 2010.
Thanks
Jeremy
Jeremy
Thanks for the report 'from the field'[y][y]
In a recent programme broadcast over here ('Piers Morgan in Dubai') it was suggested that there was a degree of State Censorship on the world economic downturn, but as you say, those who are from the UAE have more than enough funds to see them through.
I suspect that it is those ex pats who were late in jumping on the band wagon - paying high in the process and relying on making the quick buck - are the ones who might be feeling the pinch.
Thank you for saying how nice we all are here on V-Flyer; hope your job is going well for you and you never know i might be across there in the not too distant future if I need to rack up some tier points[}:)][}:)]
Take care
buns
Thanks for the report 'from the field'[y][y]
In a recent programme broadcast over here ('Piers Morgan in Dubai') it was suggested that there was a degree of State Censorship on the world economic downturn, but as you say, those who are from the UAE have more than enough funds to see them through.
I suspect that it is those ex pats who were late in jumping on the band wagon - paying high in the process and relying on making the quick buck - are the ones who might be feeling the pinch.
Thank you for saying how nice we all are here on V-Flyer; hope your job is going well for you and you never know i might be across there in the not too distant future if I need to rack up some tier points[}:)][}:)]
Take care
buns
quote:Originally posted by jpcox1
Remember the UAE has massive reserves, no toxic debt and no sub prime lending.
It doesn't, however, mean that they haven't *invested* in sub-prime. There isn't actually that much sub-prime lending in the UK either. And a year ago, the odd doomsayer aside, the notion of keeping your assets in cash would have made you a laughing stock amongst those who peddle financial snake oil.
quote:Originally posted by jpcox1
Its funny that with so many people leaving, no one seems to know who they are.
Indeed. Some people will be leaving - only a month or two back our Sunday papers were filled with tales of expats in Spain who were finding that it wasn't quite the paradise that they'd expected - but I think I'd be asking for photographic evidence of the credit cards etc and some figures from the 'western diplomat'.
I also find the use of language interesting. Personally, I think the media should be forbidden from using terms such as 'panic', 'anger', 'rage', 'riot' and in this case 'flee'. It implies leaving in a hurry from something which is entirely beyond your control and is not your fault.
Paul
Remember the UAE has massive reserves, no toxic debt and no sub prime lending.
It doesn't, however, mean that they haven't *invested* in sub-prime. There isn't actually that much sub-prime lending in the UK either. And a year ago, the odd doomsayer aside, the notion of keeping your assets in cash would have made you a laughing stock amongst those who peddle financial snake oil.
quote:Originally posted by jpcox1
Its funny that with so many people leaving, no one seems to know who they are.
Indeed. Some people will be leaving - only a month or two back our Sunday papers were filled with tales of expats in Spain who were finding that it wasn't quite the paradise that they'd expected - but I think I'd be asking for photographic evidence of the credit cards etc and some figures from the 'western diplomat'.
I also find the use of language interesting. Personally, I think the media should be forbidden from using terms such as 'panic', 'anger', 'rage', 'riot' and in this case 'flee'. It implies leaving in a hurry from something which is entirely beyond your control and is not your fault.
Paul
We can get better, because we're not dead yet
quote:Originally posted by pjh
I also find the use of language interesting. Personally, I think the media should be forbidden from using terms such as 'panic', 'anger', 'rage', 'riot' and in this case 'flee'. It implies leaving in a hurry from something which is entirely beyond your control and is not your fault.
Paul
Quite. But headlines like 'A few expats who have over-extended themselves and are now finding it difficult sneak out the country' doesn't quite make as good a copy.
I also find the use of language interesting. Personally, I think the media should be forbidden from using terms such as 'panic', 'anger', 'rage', 'riot' and in this case 'flee'. It implies leaving in a hurry from something which is entirely beyond your control and is not your fault.
Paul
Quite. But headlines like 'A few expats who have over-extended themselves and are now finding it difficult sneak out the country' doesn't quite make as good a copy.
Thanks
Darren
Darren
quote:Originally posted by fozzyo
Well a lot of the ones who have bought property and can't afford the bills. Flee, or Prison? You decide.
Story here
Interesting about the NY Times reporting on those fleeing to escape debtors' prison. I wonder what the US would think if the UAE engaged in extraordinary rendition for imprisonable offences?
H
Well a lot of the ones who have bought property and can't afford the bills. Flee, or Prison? You decide.
Story here
Interesting about the NY Times reporting on those fleeing to escape debtors' prison. I wonder what the US would think if the UAE engaged in extraordinary rendition for imprisonable offences?
H
Fleeing Dubai, I'd never move there.
Today's news including stories about an author who wrote a plot with a gay character, banned from attending a literary festival, then an Israeli femail tennis player, banned from the Dubair Masters tournament. What a wonderful (not) country and nowhere I'd want to spend my money on.
Oh, and Jim Davidson lives there. Need I say more.
Today's news including stories about an author who wrote a plot with a gay character, banned from attending a literary festival, then an Israeli femail tennis player, banned from the Dubair Masters tournament. What a wonderful (not) country and nowhere I'd want to spend my money on.
Oh, and Jim Davidson lives there. Need I say more.
There's a plane at JFK, to fly you back from far away
all those dark and frantic transatlantic miles
all those dark and frantic transatlantic miles
Both stories are true, but I still think there is a bit of sensationalism going on. This is the third Arab country I have been to and each time you are clearly told if you have an Israeli stamp in your passport Ð you will not be permitted. GCC countries do not recognise the state of Israel.
It's also strange here about what is banned. My wife can not buy John Edward (phychic medium) books, but he is on TV every day.
On the flip side, when I tell Emirati colleagues about crime, high levels of tax, drugs, binge drinking etc they are totally shocked.
Jim Davidson here Ð can't see there would be much call for him!!! Unless it is a good base for him and his troop entertaining role.
It's also strange here about what is banned. My wife can not buy John Edward (phychic medium) books, but he is on TV every day.
On the flip side, when I tell Emirati colleagues about crime, high levels of tax, drugs, binge drinking etc they are totally shocked.
Jim Davidson here Ð can't see there would be much call for him!!! Unless it is a good base for him and his troop entertaining role.
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