Old Project Avalon Forum (ARCHIVE) - View Single Post - Russian Scholar Says U.S. Will Collapse Next Year

piers2210 · 03-06-2009, 06:47 PM

Damn, so no good news.....i haven't read the papers for a week, been in dubai.

Now THAT place has really taken a beating...and SO quick. Which backs up your theory Dan, it is coming almost unseen. The problem with Dubai was that much of the wealth was based on property demand and massive construction projects.

Now everyone realises that a "reajustment" is underway, (like a 50% - 80% decrease in the price of property and many building standing empty), and many projects have simply been cancelled or suspended, people are heading home in droves, the place was 90% expat and only 10% locals anyway.

The Dubai problem will be replicated to a greater or lesser degree all over the world. No queuing for taxis now though in Dubai, and the plane coming home last night was half empty!!

P.

03-06-2009, 06:47 PM	#11
piers2210 Avalon Senior Member Join Date: Oct 2008 Posts: 403	Re: Russian Scholar Says U.S. Will Collapse Next Year Damn, so no good news.....i haven't read the papers for a week, been in dubai. Now THAT place has really taken a beating...and SO quick. Which backs up your theory Dan, it is coming almost unseen. The problem with Dubai was that much of the wealth was based on property demand and massive construction projects. Now everyone realises that a "reajustment" is underway, (like a 50% - 80% decrease in the price of property and many building standing empty), and many projects have simply been cancelled or suspended, people are heading home in droves, the place was 90% expat and only 10% locals anyway. The Dubai problem will be replicated to a greater or lesser degree all over the world. No queuing for taxis now though in Dubai, and the plane coming home last night was half empty!! P.