I recently read that you cannot expect to make money without owing money. Sure; I can understand. But heavy debt burdens do nothing other than cause anxiety to bank managers and stomach ulcers to those with the obligation to cough up.
My beloved Dubai, with its related entities, carries a woeful debt burden – estimated at $101.5 billion (!) by Moodies rating agency. The three government-related companies that have debt repayments worth $3.8 billion due this year might face refinancing risks.
But its not risky business for me: for my bank balance holds not so many zeros and I still carry on clicking away at the inspired architecture of our city’s business centre. Here you see the Dubai International Financial Centre. In the reflection is the Tower I reside in. And for the record, my rent is paid up. I am here for the long-haul!