Contractionary policy


	Contractionary policy

reimers

2-12-2009 3:38 PM

170 views

reimers says:

People are fleeing Dubai to escape debts. Who could have guessed Dubai wasn't on a sustainable path?

The story leaves out the important details, however, like what will happen to the indoor downhill ski run and the air-conditioned beach.

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2-12-2009 5:06 PM

Yassin_M

This is an example of what happens when someone is greedy. and don't forget that this is because of our economy collapse.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/8f8f1e83-2479-442e-9177-12935e1b90fb/A6173830-2025-454B-8075-92A9B6FAAB0A/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.economist.com/blogs/freeexchange/2009/02/contractionary_policy.cfm" href="http://www.economist.com/blogs/freeexchange/2009/02/contractionary_policy.cfm" style="font-size: 11px;">www.economist.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.economist.com/blogs/freeexchange/2009/02/contractionary_policy.cfm"><P>AMID a worsening downturn, bad conditions contribute to layoffs, which reduce spending and fuel debt defaults, which create layoffs, and so on. But in Dubai, contractionary conditions are actually <A href="http://www.nytimes.com/2009/02/12/world/middleeast/12dubai.html?_r=1&hp" linkindex="10">shrinking</A> the population:</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.economist.com/blogs/freeexchange/2009/02/contractionary_policy.cfm"><BLOCKQUOTE><P>With Dubai’s economy in free fall, newspapers have reported that more than 3,000 cars sit abandoned in the parking lot at the Dubai Airport, left by fleeing, debt-ridden foreigners (who could in fact be imprisoned if they failed to pay their bills). Some are said to have maxed-out credit cards inside and notes of apology taped to the windshield. </P><P>The government says the real number is much lower. But the stories contain at least a grain of truth: jobless people here lose their work visas and then must leave the country within a month. That in turn reduces spending, creates housing vacancies and lowers real estate prices, in a downward spiral that has left parts of Dubai — once hailed as the economic superpower of the Middle East — looking like a ghost town. </P></BLOCKQUOTE></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/A6173830-2025-454B-8075-92A9B6FAAB0A/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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