There is a new record setting skyscraper in the making in the United Arab Emirates. The Skyscraper Index predicts economic depression and/or stock market collapses to occur prior to the completion of the skyscraper. Maybe the economic damage will be confined to the UAE.
Source link: http://archive.mises.org/6948/new-record-skyscraper-and-depression-in-the-making/
New Record Skyscraper (and depression?) in the making
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Dr. Thornton,
Saw a story on this tower a while back and thought of your paper on the subject. Glad to see your post on the subject. I’m interested to know if anyone here is familiar with the economic conditions in the UAE? As I understand there are a number of incredible architectural projects underway in the UAE – including the Hydropolis underwater hotel. I hope someone here is more familiar with the current operations of the UAE central bank than I, and can perhaps shed some light.
Mike
The ruler of the UAE is investing in all these projects to diversify the economy away from oil. I’ve heard that more than 15% of all the world’s super cranes are at work in the UAE building such things as an indoor snow sky facility. It could be considered a special case, but there is also a super skyscraper under construction in China.
For images of the progress on the Burj Dubai, check out the Wikipedia gallery: http://en.wikipedia.org/wiki/Burj_Dubai#Gallery
A few interesting links – sorry I don’t know how to make clickable links
http://www.centralbank.ae/annualdata/table1.php
http://uaeinteract.com/docs/Money_supply_surges_to_Dh104bn_to_fuel_inflation/21635.htm
http://www.ameinfo.com/87935.html
Nevermind about the links, I’m kinda new to posting here
New tallest in the world skyscraper plan:
http://www.dezeen.com/2011/08/02/first-image-of-worlds-tallest-buildingto-be-built-in-jeddah/
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