The dark side of Dubai

#1

Post by gnosis » Mon, Nov 30, 2009, 7:09 PM UTC

The dark side of Dubai
independent.co.uk

Re: The dark side of Dubai

#2

Post by yangyang » Mon, Nov 30, 2009, 7:48 PM UTC

This is from April, btw.

Re: The dark side of Dubai

#3

Post by yesimahuman » Mon, Nov 30, 2009, 8:04 PM UTC

Why anyone would relocate to a country living in the dark ages with Medieval laws is beyond me. Commit adultry? Go to prison. Eat a poppy-seed bagel in another airport on your way to Dubai and leave a seed on your shirt? Same thing.

http://news.bbc.co.uk/2/hi/uk_news/7234786.stm

Re: The dark side of Dubai

#4

Post by brown9-2 » Mon, Nov 30, 2009, 8:08 PM UTC

The more I read about Dubai's "debt is illegal" policy, the more counter-productive it seems.

If you lose your job, the employer has to notify the bank. The bank freezes your accounts and you are prevented from leaving the country. Thus, you are left with absolutely zero way to ever pay off your debt.

What's the proper economics term for this? Something along the lines of a self-fulfilling negative spiral.

Re: The dark side of Dubai

#5

Post by gms » Mon, Nov 30, 2009, 8:12 PM UTC

yesimahuman wrote: post #3

Why anyone would relocate to a country living in the dark ages with Medieval laws is beyond me. Commit adultry? Go to prison. Eat a poppy-seed bagel in another airport on your way to Dubai and leave a seed on your shirt? Same thing. http://news.bbc.co.uk/2/hi/uk_news/7234786.stm

Although your comment is extreme, many people moved there to make lots of money and live like kings. Which they did.

Edit: Not sure why I'm being downmodded; all I did was answer the parent's question.

Re: The dark side of Dubai

#6

Post by yesimahuman » Mon, Nov 30, 2009, 8:14 PM UTC

gms wrote: post #5

yesimahuman wrote: post #3

Why anyone would relocate to a country living in the dark ages with Medieval laws is beyond me. Commit adultry? Go to prison. Eat a poppy-seed bagel in another airport on your way to Dubai and leave a seed on your shirt? Same thing. http://news.bbc.co.uk/2/hi/uk_news/7234786.stm

Although your comment is extreme, many people moved there to make lots of money and live like kings. Which they did. Edit: Not sure why I'm being downmodded; all I did was answer the parent's question.

My comment wasn't extreme. The fact that that kind of stuff happened at all is what's extreme.

Re: The dark side of Dubai

#7

Post by TrevorBramble » Mon, Nov 30, 2009, 8:17 PM UTC

yangyang wrote: post #2

This is from April, btw.

As someone who read it in April, I'm glad it's still being shared.

Re: The dark side of Dubai

#8

Post by physcab » Mon, Nov 30, 2009, 8:19 PM UTC

http://news.ycombinator.com/item?id=550719

Re: The dark side of Dubai

#9

Post by brown9-2 » Mon, Nov 30, 2009, 8:21 PM UTC

gms wrote: post #5

yesimahuman wrote: post #3

Why anyone would relocate to a country living in the dark ages with Medieval laws is beyond me. Commit adultry? Go to prison. Eat a poppy-seed bagel in another airport on your way to Dubai and leave a seed on your shirt? Same thing. http://news.bbc.co.uk/2/hi/uk_news/7234786.stm

Although your comment is extreme, many people moved there to make lots of money and live like kings. Which they did. Edit: Not sure why I'm being downmodded; all I did was answer the parent's question.

They moved to Dubai to participate (willingly or unwillingly) in a bubble, basically.

Re: The dark side of Dubai

#10

Post by gms » Mon, Nov 30, 2009, 8:26 PM UTC

brown9-2 wrote: post #9

gms wrote: post #5

Earlier quoted context omitted.

Although your comment is extreme, many people moved there to make lots of money and live like kings. Which they did. Edit: Not sure why I'm being downmodded; all I did was answer the parent's question.

They moved to Dubai to participate (willingly or unwillingly) in a bubble, basically.

Is that a bad thing (on a per-person level)? Again, many people made out great.