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Thursday 24 Aug 2017 | 13:28 | SYDNEY
Thursday 24 Aug 2017 | 13:28 | SYDNEY

World's largest GFC metaphor nears completion

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21 January 2009 16:09

My favourite headlines from the satirical newspaper The Onion would have to be 'Study: Children of divorced parents twice as likely to write bad poetry' and 'World death rate holding steady at 100 per cent'. But one that really brought the newspaper to broad popular attention was from an article about the Titanic sinking, called 'World's largest metaphor hits iceberg'.

I wonder, though, whether the Titanic might soon have some competition in the metaphor stakes. This from a Spiegel article about how the global financial crisis (GFC) is hurting real estate markets worldwide:

The tallest building in the world is still under construction in this ambitious emirate. The Burj Dubai ("Dubai Tower") is a mixed-use tower which will be more than 800 meters (2,624 feet) tall when completed. But by the time of the dedication ceremony planned for next fall, will its roughly 200 stories still be needed? Won't the market in Dubai, famous for its insane profit margins, have imploded long before then?

Photo by Flickr user rule37, used under a Creative Commons license.