If This Is True…

If this is true the ramifications for global economics in the near future…are not good. Everything is too intertwined for this not to be problematic.

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7 thoughts on “If This Is True…

  1. I have been reading that story and seeing that movie in science fiction for decades. The only problem is that it is no longer fiction, no longer entertaining, and getting closer to home.

  2. I heard of PR stunts across the world that praised the Dubai as the place where you can become a millionaire in couple of years… many fell for it, only the crooks survived to tell the story of success IMO.

  3. I thought the following comment was amusing and succinctly put.

    “It’s only a waste of money for the investors. European and Asian investors are out of luck. Iran is screwed. Construction workers will return to China and India, unemployed, instead of moving on to the next project. Dubai itself will behave just like any western company: Step 1: Attract investors. Step 2: Build your megaproject, racking up massive debt. Step 3: Let your company go bankrupt. Purchase the assets with your *new* company. Since you’re the only one qualified to run the project, you have no competition for the assets and you can dictate terms. Step 4: Run the completed megaproject, now with no debts to pay off and no investors bothering you. Step 5: Profit!”

  4. One of the key lines in this article:

    “Our export isn’t oil, it’s hope.”

    Now where have I heard that kind of talk before? Will the result be any different?

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