Goodbye Dubai

I was watching National Geographic's Episode about the grandiose Palm Island of Dubai, it was indeed fascinating. No wonder my expat friends have always recommended it as good watch. Then as I was watching, I began to see the possible flaws of the project. Among which is the water systems, the rest are overshadow by extravagance. Things too luxurious are not good, in my opinion.

It was likewise just lately when news breakout about Dubai's somewhat inevitable economic downturn. A member of our group had most of his investments in on of the banks most exposed to Dubai, and now he lives with anxiety as to how he will possibly recover from his blunder.

Dubai as we remember is a small "village" as my friends call it a few decades ago, and to a village it will have to go back.

It was not a bad thing for a village to have a Singapore-like growth, but, Dubai went beyond the line have undergone projects too ambitious. With too big operating costs at hand, even oil can not make it's economy sustain for long.

As many have projected, Dubai's ecnomy will - hopefully not - fall within 2010, definitely. I hope my friends out there will have enough time to secure their investments.