Taken from a finacial bit of a newspaper
The Dubai Financial Market has lost nearly 70 percent of its value since the summer. Leading that loss have been real estate companies. Dubai's Emaar Properties, builder of the soon-to-be tallest building in the world, the Burj Dubai, has lost 75 percent of its value since January on Dubai's exchange.
The real estate industry, including construction, makes up an estimated 30 percent of Dubai's economy. Apartment and villa prices in Dubai, on average, had doubled since the beginning of January 2007. But now real estate agents like Jean-Pierre Sedaghat say some premier property prices have dropped as much as 50 percent.
Taken from a S African rag
South Africa's government wants to attract ten million foreign visitors a year in the run up to the World Cup which is being held in South Africa for the first time.
Lower house prices are expected as the credit crunch starts to have an effect, according to South Africa's Standard Bank. In 2005 South Africa was one of the fastest growing property markets in the world. But now analysts believe recent overvaluation means it cannot go unaffected by global economic conditions.
'We anticipate a large decline in demand for residential property as we enter a period of national house price deflation which we see as a correction in house prices to more plausible levels,' a spokesman said.
'This trend will be exacerbated by rising inflation and higher interest rates in an environment of record high household indebtedness,' he added.
Daily Tribune (New York Times)
CAIRO, Egypt: The Gulf Arab nations' vast oil wealth has not fully insulated them from the global financial crisis as new data shows bank lending to the Saudi Arabian private sector recorded its lowest monthly rise in at least a year and growth in the country's money supply fanned inflation fears.
The Saudi Arabian Monetary Agency underscored in its latest monthly report that the Arab world's largest economy is starting to feel the pinch from the global liquidity crisis that has ravaged Wall Street
I feel a little petty trying to prove the point about the GLOBAL financial crisis but I think you'll find that although some nations are better suited to weather the times ahead - all are affected and its quite strange how similar the news reads whichever country your reading about.
I'm really not sure what substance(s) some of you are on but let me say this..
I have fought against Socialism and Governance by a Labour led administration since I joined the Conservatives at the age of 18. That, and that alone, is my clear motive for what is described by others as an "anti-British" campaign.
The fact I now live in France (which is essentially a socialist, Catholic Country) has nothing whatsoever to do with me abhorring the Commissar Brown and his feeble machinations at saving the world from financial crisis whilst at the same time selling the people of Britain a dead donkey.
It's true - I do like France and it's people; and why not? They stand by their principles, have the balls to voice their opinions in the streets and provide a constant reminder to their politicians about who put them there in the first place - not like the "whinging poms" as the Australians so aptly describe us who kow tow to idiots like Bliar and Borrown who's only interest is their self interest.
Oh yes, I forgot; the people of Britain are not allowed by law to voice their opinions outside Parliament any more are they..
The so called "General Strike" in France didn't really happen in the way described (even hoped for) by some of my critics in this and earlier threads.
Taking to the streets in the way they did, the French put their President on notice that he must put the people of France first. That is their way. There were no "lightening" strikes so common in the UK. Everyone knew well in advance what was going on. Dead bodies were not stacking up in the streets of France nor was the rubbish piled high on street corners like it was in the winter of discontent in the UK (under a previous Labour government of course). Our rubbish was collected and our post delivered on time as per normal on that day.
The people of Britain are now hamstrung by their debt culture. The people of France have always had a view that if you can't afford it, don't have it. Of course there is recession in France like everywhere else in Europe but since the ordinary Frenchman in the street has nothing like the debt of his equivalent British brother, the French will come out of this stronger and more quickly than the UK under Borrown. The French are sharing their jobs, taking lower pay, in order to avoid total redundancies whereas in wonderful Britain it's every man for himself and fuck the rest of them!
It's true. I am fortunate in that I managed to sell my property (debt) interests in the UK a year ago before this almighty mess took hold. I still lost a considerable amount of (perceived but not realisable) personal wealth but I am now debt free and in a better personal position to ride the storm.
I'm an Englishman abroad; I respect my host Country and it's values but I also respect the right of those remaining in my Country (including my family) to hold the views they do.
It's a pity some of you are too arrogant to see the wood for the trees.
Rant over!
The rich in Saudi and South Africa continue to do very well.
the rich anywhere continue to do well
Maybe we can all agree that there is no perfect country - except perhaps in our childhood memories.
And having a 'my country is better than yours because - - - - ' competition is just plain childish.
You can come up with ANYTHING you like or do not like about a country and someone else can counter it.
And keeping going is an exercise in futility.
he just said all the britts are money gready. so im lumping him in with my one meeting of a french person who was a twat.
