Updated almost 16 years ago on . Most recent reply
First it was Argentina, next was Island and Ireland now is Dubai. Is US next?
Dubai which until recently was one of the richest emirate in the Persian gulf announced that they are declaring debt standstill for six months. They are in trouble.
http://www.guardian.co.uk/business/2009/nov/25/dubai-world-debt-standstill
Are we next?
Most Popular Reply
The problem with Dubai is that they became too ambitious. Trying to set world records,trying to build things too much and it got out of control. They took on too much and eventually the foundation crumbled.
That's what happens when you have hundreds of projects you are doing all at once instead of taking it at a slow and steady pace.