While I don't like the look of Dubai a a place to visit, and it does seem due a bust, not sure that this is a Ponzi scheme. These are real assets being built, albeit on the crest of a massive property speculation (anyone buying now?). When you say it's like Las Vegas on steroids... sums up what I can tell, I'm sure people wrinkled their noses at it when it started, but Las Vegas is still there and growing. And I don't fancy visiting there either.

Once everyone calms from the current mess down we my end up with a fairly liberal gulf state, which can only be good.

Or not. Feel free to shoot me down.