Dubai: The City on CRACK. (Updated)

UPDATED SPX chart below (9:05AM). Looks like we will breach the 2 nearest support levels, breaking away from the short-term neutral consolidation. Support may be needed around 1070-1075.

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I got this e-mail from my friend Shane on January 30, 2008. Obviously, stuff has change since then, but I will just keep the wording as I got it. Since I’m a visual guy, I just like to look at the pics. Dubai better get their debt issue solved, or else POOF!

Hope everyone’s having a great Thanksgiving Day!

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Dubai in 1990 prior to the craziness:

The same street in 2003:

This is 2007:

The madness. Dubai is said to currently have 15-25% of all the world’s cranes:

The Dubai Waterfront. When completed, it will be the largest waterfront development in the world:

All of this was built in the last 5 yeas, including that island that looks like a palm tree:

The Palm Islands of Dubai. New Dutch dredging technology was used to create these massive man-made islands. They are the largest artificial islands in the world and can be seen from space:

Upon completion, the resort will have 2,000 villas, 40 luxury hotels, shopping centers, movie theaters, and many other facilities. It is expected to support a population of approx. 500,000 people. It is advertised as being visible from the moon:

The World Islands. 300 artificially created islands in the shape of a world. Each island will have an estimated cost of $25-30 million:

The Burj Al-Arab hotel in Dubai. The world’s tallest hotel. Considered the only ‘7 Star’ hotel and the most luxurious hotel in the world:

Hydropolis, the world’s first underwater hotel. Entirely built in Germany and then assembled in Dubai. It is scheduled to be completed by 2009 after many delays:

The Burj Dubai. At an estimated height of over 800 meters, it will easily be the world’s tallest building when finished. It will be almost 40% taller than the current tallest building, the Taipei 101:

Downtown Dubai:

The Burj al-Alam, or the World Tower. Upon completion, it will rank as the world’s highest hotel.:

The Trump International Hotel & Tower, the centerpiece of one of the palm islands, the Palm Jumeirah:

Dubailand.The largest amusement park collection in the world is Walt Disney World Resort in Orlando, FL. Dubailand will be twice the size:

Dubailand will be built on 3 billion sq. ft. at an estimated $20 billion price tag:

Dubai Sports City. A huge collection of sports arenas located in Dubailand:

Dubailand is expected to attract 200,000 visitors daily:

The Dubai Marina is an entirely man-made development that will contain over 200 high rise buildings when finished. The completed first phase is shown:

The Dubai Mall will be the largest mall in the world with over 9 million sq. ft. of shopping and around 1,000 stores. Was it completed in 2008?

Ski Dubai (already open), is the largest indoor skiing facility in the world:

Some of the tallest buildings in the world, such as Ocean Heights and the Princess Tower, which will be largest residential building in the world at over 100 stories:

The UAE Spaceport would be the first spaceport in the world if construction ever gets underway:

Other stuff:

-The Dubai Metro system, once completed, will be the largest fully automated rail system in the world.

-The Dubai World Central International Airport will be the largest airport in size.

-There are more construction workers in Dubai than there are actual citizens.

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*My girlfriend has already been to Dubai and I am the process of jacking her pics. Will update later.

The SPX is currently (at the moment) scheduled to open down over -2%. Keep in  mind that all of this could change come tomorrow pre-market. Support is noted below:

UPDATE: Some of the gf’s pics here from random places, like Ski Dubai, the Dubai Aquarium, a mall, museum, etc. Will have more up later.

Present-day Dubai (summer 2009):

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