gobbledonk Posted March 7, 2009 Author Report Share Posted March 7, 2009 I stil go to my local bar in Dubai but I have changed my drinking habits such that I spend less now than I used to. The bar may look as busy as ever but it wouldn't surprise me if receipts are a bit lower than before. Hi Munchie, Are the stories that we are reading about the 'bust' in Dubai a media beatup ? Reading about Brits and others leaving their car at the airport, credit cards on the dash with a 'Sorry, but I cant go to prison !' note : borrowed big when times were good, lost their jobs and the dream is all over. Personally, I'd like to see a 'Debtors Prison' for every scumbag exec who gets their company into trouble with stupid 'investments' then expects to walk out with a 'golden handshake' when the Board finally realises that the damage has been done. Link to comment Share on other sites More sharing options...
kamui Posted March 10, 2009 Report Share Posted March 10, 2009 It's dead here. Like a ghost town in most shops and malls. No soup lines yet nor anyone selling apples on the street. But darn close. Wait until the summer. In Germany every 5th!! company is planning to lay off workers. And wait until the bailout money is spend (in the US, Europe and China) and see major companies going down anyway. We haven't reached the bottom yet. Link to comment Share on other sites More sharing options...
gobbledonk Posted March 10, 2009 Author Report Share Posted March 10, 2009 Kamui, I agree that we havent reached the bottom yet. - world output at levels not seen since WWII : not sure exactly what that means, but I bet Mitsubishi and Ford wish they had the levels of demand they enjoyed in WWII .. - Britain is being written off as a 'basket case', at least according to our ABC TV current affairs program, the 7:30 Report. Their ads for tonights edition feature Brits claiming that theirs will be among the last countries to climb out of this thing, if and when the rest of the world manages to do so. - the World Bank has identified 'East Asia' as the region that will be hardest hit by the recession, presumably because demand in the West has fallen so dramatically. - Japan has entered a Depression, whether they accept that term or not. If you agree that a Depression is a sustained and severe period of recession, they have probably been in a Depression for years - current events havent helped. Fingers crossed, 2010 will be a better year. Link to comment Share on other sites More sharing options...
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