Oh dear. How sad. Never mind.
Anyone who genuinely thought that Dubai was a solid long-term investment deserves to lose out. It was always going to collapse, we just didn’t know that action in Iran would be the cause.
I thought McKesson was going to string Saudi Arabia along for years with “The Line” until the country collapsed. Oil based economies are in their final decades
I do think that this is the case. It also means that that the Texas oil barons will have to move into something new. This will be better for humans and the planet.
Why? Should’t Dubai be able to continue being a trade hub?
Dubai is a country that produces nothing but petroleum. The only reason the royal family is rich is because of cars. There is nothing else made there. There is no other trade. The world is moving towards renewables, which means that you should expect it to slowly disintegrate.
Dubai doesn’t have oil. They have been a trade hub and they can continue trading.
UAE exports oil. Dubai is part of UAE.
Dubai’s economy centres on trade, tourism, aviation, financial services, and real estate.[12][16] The Dubai International Financial Centre (DIFC) is one of the world’s major financial centres. In 2024, Dubai was the seventh most-visited city globally.[17] Dubai International Airport (DXB) is the world’s busiest airport for international passenger traffic, handling over 92 million passengers in 2024.
https://en.wikipedia.org/wiki/Dubai
What changes if the oil is gone? The money will remain.
It is easier for a camel to pass through the eye of a needle than for a rich man to enter the kingdom of heaven
-Tupac
“Expats”
They’re expats when they’re white
Best I can do is about $3.50
Good.
I hope rich people lose all of their wealth and have to live like the people they’re oppressing.
Who could’ve predicted war in the Middle East?
Dont worry, Blackrock will buys these for pennies on the dollar and make billions in 5 - 10 years.
Blackstone.
I keep correcting this because they get far less hate than they deserve while Blackrock gets a bit more than they do. Most of Blackrock is investment funds that invest into stocks, bonds, tradeable commodities. Much of their size comes from index funds in particular. Any of us can buy into those, and a lot have, even outside of the US (I had 5 digits worth of euros in iShares funds myself, but they’re going to be moved out in short order now, nearly everything into European-run funds). Funnily enough, their controversies section on Wikipedia includes the fact that a bunch of red states didn’t want to do business with them because of their ESG (environmental, social, and governance) efforts. Larry Fink himself says ESG isn’t woke, it’s just sensible for sustainability.
Blackstone is more about alternative investments and investing in specific companies, rather than broad strokes. And they’re the guys who have a massive real estate department. They buy up whole neighborhoods so they can raise rents unilaterally. People don’t talk about Blackstone enough, and much of Blackstone’s bullshit gets put on Blackrock instead. I’m not saying Blackrock’s a friendly and innocent giant company, but that we need more attention on Blackstone instead, because they’re far worse.
Fuck greedhead Dubai expats, and fuck the Daily Heil.
i can offer about £1.5k
As a poor American, maybe I’ll move there.
It’s a country built in slave labor where rich assholes think they are self-made, Americans will fit right in.
You could not pay me enough to live there.
Ok actually you could, but it would have to be a fuckton of money in like 6-12 months so that I would be set for life afterwards.
Might get drafted and sent there.
womp womp
The sound you here is me playing the worlds stupidest violin
So sad.
