The problems in Dubai are due to the fact the affections of their Prince were misdirected.

It is the first time Dubai learned it has finite resources to manage its government. The Prince found out through hard lessons, "Wealth ain't all that." Literally.

As a leader in an Arab nation, it is easy to indulge, but far, far more difficult to actually manage. The infrastruture of the small nation was never built, so much as 'indulged' in 'accommodation' allowing its wealth to be diverted to 'services' rather than investment.

As a result the only recourse it has is to pump more and more oil wealth out of the ground, on the treadmill of failure. The Prince needed to love the future of his children more and discipline his indulgences. He listened to the "W"rong people. He listened to all those that would use the wealth of his nation for their own purpose, rather than the benevolence and benefit of his own people.

He should understand this, the people of the USA are designing a future where oil is a mistake of history and a new leader will releave them of their own indulgences to believe they could live a life of indulgence as well, without regard to the future of their children. The price of oil will never attain the prices of the past and we will need less and less from now on. Dubai should adjust its vision accordingly.

Dubai tried to 'piece together' a functional infrastructure. No one ever 'lead' the Prince and his associates in a direction of 'sustainable growth,' so much as 'infrastructure dysfunction' that would sap the country of its wealth. Collapse was inevitable.

No one ever cared about the Dubai people enough to tell them the truth. They were disregarded as important to the lust for money by Oil Barrons.

...In a statement Sunday (click here),

the UAE's central bank said it had sent notice to Emirati banks and foreign banks with branches in the country making clear they would have access to "a special additional liquidity facility."
The offer comes after Dubai World, the conglomerate that has long been the chief engine behind Dubai's explosive growth, on Wednesday announced it needed at least a six-month reprieve from paying its roughly $60 billion debt. The news sent global markets tumbling.
The UAE has been guaranteeing bank deposits since October 2008, but the pledge for new help at generous terms stems from concern that UAE banks have some of the biggest exposure to Dubai World's debt. Several have been downgraded by international ratings agencies or been placed on review for downgrades....