03-20-2009, 05:40 PM
Dears,
In fact this thread was to discuss UAE market situation and when I said that this thread has been dragged away, I also mentioned that it is, as per "sweet will of members"; and I cannot divert the path it has been directed to.
Here an illogical line was being drawn between current economic situation and the effects of credit on which people have been used to base everything they posses or claim to own (which we saw is the biggest issue of non-residents of Dubai currently). It was also mentioned that the personal savings cannot create jobs. Everything is said to be based on the concept of spending (which of course is very important) but all other stimulants of GDP growth, the effects of credit expansion, fictitiously increased real estate prices (as a result of speculative business), the over utilization of consumer based debt at micro level (which is resulting in Nil savings), and other related things have been ignored.
Some people tried to defuse the situation by providing explanations in their "own words" but this left no impact. Most of us also confirm we are not economists and we can only say what words we are able to use. That's why this so-called "copycat" effort has been made with a hope that the clarity may be seen in views, which alas has not been witnessed. I know the people who take such articles, change some words and then reproduce them. It may be more confusing and un-ethical.
I agree that pasting some one's article may attract some consequences and when I did so, I was aware that some body would be speaking like this. However, I feel people normally don't bother to open the links and go for a time consuming effort. The article published in newspaper, with no disclaimer and instructions about its reproduction could be used by the ones who can access such newspaper. However, this should cause pain only to the writer, if by any means it has to. The things happening other way and causing so called laughter depict something else on which I don't want to go at length simply to keep the things calm.
I wish to say that professional issues are not a question of personal ego. If some one is wrong or could not convey his ideas effectively, he should openly accept it. Saying, that "the readers can see the article states the same thing which I said", is only an effort to alleviate the impact on personal ego. This is reflected in all the contents of one of above posts.
CFANerd, yes, we can discuss it whenever you like.
Regards,
KAMRAN.
In fact this thread was to discuss UAE market situation and when I said that this thread has been dragged away, I also mentioned that it is, as per "sweet will of members"; and I cannot divert the path it has been directed to.
Here an illogical line was being drawn between current economic situation and the effects of credit on which people have been used to base everything they posses or claim to own (which we saw is the biggest issue of non-residents of Dubai currently). It was also mentioned that the personal savings cannot create jobs. Everything is said to be based on the concept of spending (which of course is very important) but all other stimulants of GDP growth, the effects of credit expansion, fictitiously increased real estate prices (as a result of speculative business), the over utilization of consumer based debt at micro level (which is resulting in Nil savings), and other related things have been ignored.
Some people tried to defuse the situation by providing explanations in their "own words" but this left no impact. Most of us also confirm we are not economists and we can only say what words we are able to use. That's why this so-called "copycat" effort has been made with a hope that the clarity may be seen in views, which alas has not been witnessed. I know the people who take such articles, change some words and then reproduce them. It may be more confusing and un-ethical.
I agree that pasting some one's article may attract some consequences and when I did so, I was aware that some body would be speaking like this. However, I feel people normally don't bother to open the links and go for a time consuming effort. The article published in newspaper, with no disclaimer and instructions about its reproduction could be used by the ones who can access such newspaper. However, this should cause pain only to the writer, if by any means it has to. The things happening other way and causing so called laughter depict something else on which I don't want to go at length simply to keep the things calm.
I wish to say that professional issues are not a question of personal ego. If some one is wrong or could not convey his ideas effectively, he should openly accept it. Saying, that "the readers can see the article states the same thing which I said", is only an effort to alleviate the impact on personal ego. This is reflected in all the contents of one of above posts.
CFANerd, yes, we can discuss it whenever you like.
Regards,
KAMRAN.
