...And they said, "Come, let us build ourselves a city, and a tower whose top is in the heavens; let us make a name for ourselves, lest we be scattered abroad over the face of the whole earth." (Gen 11:4, NKJV)
Every Christian, I suppose knows the story of the tower of Babel. People never cease to become self-centered. They want to show everyone that they can rule and rely their knowledge and possessions. Most, if not all, including Christians, failed to acknowledge that they are just mere creatures and the Creator is still in control and sovereign.
What happen to Dubai? The last couple of years, we see a tremendous development and progression in terms of infrastructure, both horizontal and vertical. It even aimed at breaking almost all the records in terms of infrastructure. The tallest building. The biggest mall.
Does that make them a power to behold? I do not think so.
Like the story of the tower of Babel, Dubai is trying to make a name for themselves. They are trying to make themselves known the whole face of the earth so that all peoples will say you are such a power to reckon with. But, God would not allow that. He is still the ever powerful and mighty God. He alone deserves our praises and worship and no one else.
In this global crisis, which started in the US, the Europe, and now around the globe greatly affected Dubai. This event just showed how vulnerable Dubai is. The latest disclosure by the head of the Ministry of Finance of Dubai, the Dubai government's debt is equal to 148% to their GDP translating to a $40M debt for each citizen. US debt to GDP ratio is at 57%, while UK is at 40%. You do not need to be a genius to figure out how deeply indebted Dubai is.
The rumor stating that the property bubble in Dubai is about to burst is deafening among the investors and real estate industry. People are speaking in different forecast and estimates, that the ordinary people seemed to become confused of what is the real score. Some will say, everything is still under control, while some say that it is already out of proportion. Like, the babel story, people are confused.
Who knows the future of the real estate industry in Dubai? My apology to those speculators who have invested in Dubai property, but this is the real score. The real estate industry is as dark as the "alcetran."
Lesson: no one knows the future except God, the Creator. Hence, let us all put our trust in Him, and in Him alone.
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