3,000 cars abandoned at the Dubai airport ...
02-19-09, 06:56 AM
#17
I was doing a little more reading between the lines in this article.
I think the US could solve some of it's problems with some of these laws...
If you're a foreigner and you're unemployed for a certain period of time, you have to leave the country.
Not paying personal debt is a jailable offense. I bet that would slow down the foreclosure rate. Would also make people think twice next time they start to sign some Inverted-ARM, backwards-repayment, no-money-down, no-documention, exotic bank loan.
I think the US could solve some of it's problems with some of these laws...
He has until the end of February to find a job, or he must leave.
...debt-ridden foreigners (who could in fact be imprisoned if they failed to pay their bills).
02-19-09, 07:09 AM
#18
Lexus Test Driver
Join Date: Sep 2006
Location: TX
Posts: 1,386
Likes: 0
Received 0 Likes
on
0 Posts
Whether he is losing that amount everyday or not, he is privileged to have Abu Dhabi as its capital of the U.A.E (United Arab Emirates) without A.D. Dubai would be a third world country right now. I have been calling the collapse of Dubais' economic stance for the past two years. I went there between 2003-2007 three times and the rapid growth was out of this world.
Also Lexus LS460 and Lexus LX570
02-20-09, 09:28 AM
#23
Keeper of the light
iTrader: (17)
I could end up in debtors’ prison.”
02-20-09, 07:55 PM
#27
Lexus Fanatic
iTrader: (20)
yeah right. it's goin' down a major way for at least a while. no oil, not siginficant tourism, all those fancy homes people snapped up are left EMPTY because they were mostly bought by property speculators, if it's not feeling major burn now, it will in 6 months.
02-20-09, 07:56 PM
#28
Lexus Fanatic
iTrader: (20)
02-20-09, 09:37 PM
#29
Super Moderator
When I lived in Mexico, I worked at 3 different places, each time my time for a changeover (meaning getting my visa change approved for the new job) took about a month or so. In the 1st to 2nd jobs, I was near the end of my work permit time and my company gladly agreed to keep me on for 30 more days.
However, I knew people who had lost their jobs because they got fired and literally had no money to go home (I am not kidding on this one) and the Mexican authorities had the rule you could stay in the country until your visa was up (which meant 1 year) and I knew many a person who legitimately try to find work and other people who just moped around and worked odd jobs illegally (they weren't people from 3rd world countries) but many times from Europe or the U.S. who had left their countries to "get away from it all".
I was very careful when I left Mexico for good (and still had about a month left on my work permit) to make sure with my landlord that there was more than enough to pay off my existing bills and turn off stuff like the phone/Internet etc. Turned in my car permit in Nuevo Laredo, and later I turned my work permit in via the Mexican Embassy in the United States. However, I am probably one of those fortunate few who did this. My wonderful landlord (yes, I can happily say that) got burned by his previous tenant who paid none of the utilities (many people don't pay and they don't really shut you off in the case of electricity/water, the bills/penalties just keep piling up). In addition, he left credit card bills and god knows what else before going back to Colombia for good and just walked out and left the country one day.
The other thing to remember when you are out of country, you serve as an ambassador to your country, whether you like it or not. I am hopeful that despite all the issues I had south of the border in my 6+ years in Mexico that I served in a positive light my own country.
However, I knew people who had lost their jobs because they got fired and literally had no money to go home (I am not kidding on this one) and the Mexican authorities had the rule you could stay in the country until your visa was up (which meant 1 year) and I knew many a person who legitimately try to find work and other people who just moped around and worked odd jobs illegally (they weren't people from 3rd world countries) but many times from Europe or the U.S. who had left their countries to "get away from it all".
I was very careful when I left Mexico for good (and still had about a month left on my work permit) to make sure with my landlord that there was more than enough to pay off my existing bills and turn off stuff like the phone/Internet etc. Turned in my car permit in Nuevo Laredo, and later I turned my work permit in via the Mexican Embassy in the United States. However, I am probably one of those fortunate few who did this. My wonderful landlord (yes, I can happily say that) got burned by his previous tenant who paid none of the utilities (many people don't pay and they don't really shut you off in the case of electricity/water, the bills/penalties just keep piling up). In addition, he left credit card bills and god knows what else before going back to Colombia for good and just walked out and left the country one day.
The other thing to remember when you are out of country, you serve as an ambassador to your country, whether you like it or not. I am hopeful that despite all the issues I had south of the border in my 6+ years in Mexico that I served in a positive light my own country.
Thread
Thread Starter
Forum
Replies
Last Post
