Tuesday, 15 December 2009

Manifest Delusions - Dubai

One would have thought that recent events would have resulted in a bit of introspection and restrained behavior.  Unless of course one was familiar with the region.

Today's Khaleej Newspaper (Dubai) has a lead article entitled "We Can Do It".

Here is the first paragraph.

"GLOBAL crisis or not, Dubai has done it again. It has once again shown the world, beyond doubt, its ability and willingness not only to meet its obligations but any challenge to its unrivalled status as the most dynamic global financial and trading hub in the Gulf region."

I'm not sure precisely what Dubai has done. 

As I understand things, the kindly Shaykh up the road has sent around US$10 billion to be used to settle Dubai's debts.  And Dubai is mailing the check.   How that shows ability is beyond me.  And how living off the kindness of strangers beats back challenges to a postulated "unrivalled status" also escapes me.

On careful reflection, I can see how this might apply to my own life.  And that certainly gives rise to a proud feeling.

When I was a young lad, I used to make my parents' monthly mortgage payments.  Quite a feat for a lad of 10 or 11 when I first started.  Mom or dad would write the check and put it in the envelope.  I would take the envelope down to the postbox.  So it is clear that I made the mortgage payments.  Sometimes I even put the stamp on the envelope - which must count for even more.  I trust you can imagine the effort as these were the days before the self-adhesive postal stamp.

Having demonstrated both my ability and willingess to make payments in younger days, when I was at university, I never missed a payment of tuition or other fees.  Mom and dad used to send me the money which I deposited in my account.  Then I wrote the check myself.  I trust you notice the progression in my ability and willingness.  I think it's fair to say that I held an unrivalled status as fairly dynamic financial intermediary. 

We shall omit detailed discussion, however, of my many and consistent economic contributions to the business of the local pub at school largely funded through my own meager earnings supplemented now and then by parental largesse.  Let us say that my and my friends patronage resulted in a fairly dynamic increase not only in revenues but good cheer as well.  And if memory serves me, I believe we beat back many a challenge.  But then much of this is hazy.

1 comment:

hut said...

and no wonder you ended up in financial services ;)