Monday 26 September 2011

Riding the Wormhole

Riding the Wormhole…
(www.hanikobrossi.blogspot.com)

“Blink-and-you’ll-miss-it” is often used to denote a speedy event unfolding. Spare a thought for the scientists sitting miles underground somewhere between Switzerland and Italy (no..they’re not smuggling gold-bullion) attempting to keep their eyelids open to catch pesky-tiny-atoms, known as neutrinos, literally turning time and Einstein’s coffin upside down in one faster-than-the-speed-of-light (to be precise: 60 billionths of a second faster – that’s a quick blink) swoop of mind-boggling (maybe) discovery.

Two things are clear from the last seven days:
1. There will be a war in the Levant. Israel will either strike Iran directly, or indirectly via Hamas and Hezbollah. Netanyahu was quite clear on this. The region will conflagrate in a short and painful confrontation. Result? A regional superpower in Turkey and a return to another untenable 15yr “solution” carved out between the Israelis and its Palestinian neighbours. State or not, these two peoples sharing a long history of animosity, will unfortunately discover living side by side is not a route to peace itself. We will surely be re-visiting this situation in the weeks to come.
2. Europe will witness a crack in the Euro with two or three periphery nations having to pull-out, Greece’s impending default this week the starting-gun and consequently two or three mid-tier nations following suit. Benvenuto Lira, Hola Peseta?

The above are our own neutrino-fast (at least until the CERN findings are either confirmed or opposed) amalgamation of a week’s worth of multiple sources of commentary, analysis, discussion - often descending into heated shouting matches - and fortune-telling. Let’s be honest, much of today’s media discussion is one-well-presented-step away from predicting the future, coupled with those involved in finance foreseeing the eventual winners (read: enriched benefactors) from global socio-economic situations.

The world may have infinite more conduits to distribute and analyse information but the oft-obscure-corridors of power where global-shaping-decisions are made maintain a grip on domestic and international policy. Democracy does its best to illuminate the process. It also does its best to confuse in the absence of a strong-willed and certain path. WikiLeaks aside (even Julian Assange had to swallow some of his own medicine with his unauthorised biography making its way to the top of Amazon’s best-seller list), quasi-official-think-tanks, coupled with supercomputers modelling global permutations, make the decisions – we shout and argue at the results, only to re-elect the same or similar groups. Someone please stand-up and show us the way.

Truth is, there is really very little more we can do here now but sit back and watch the events unfold. The politicians and our esteemed elected (mostly) leadership, must face up to the glaring truth and make the necessary changes they are loath to admit – living standards in this new economic order are not sustainable without further risk to the system, re-balance can only be achieved through some painful alterations (read: de-leveraging) to our spoiled way of life. The biggest problem? Politicians are elected by people. People elect politicians to not have to deal with such issues themselves and live life in blissful oblivion. Nice in theory. Reality? The people and the politicians alike, must grow-up and face this generation-shaping challenge like adults. Adults should have acknowledged by now that pain is intermittently an unavoidable element of life. Some pain must be endured for the relief to present itself along the road. There is no other way.

Spring in the desert?
An opportunity arose over the last weekend to focus on a long-standing favourite friend to controversy. A land attached to the Middle Eastern region and yet often felt to be a world-away from its problems and attitudes. In fact, despite a geography placing it slap-bang in the middle of some feisty neighbourhoods, more often than not it is unfeasibly difficult to locate a shred of the region’s culture, let alone spot a Middle Easterner herself. Yep, you guessed it…we are talking about our favourite construction site, a land of playground-like wonder attached to a gleaming airport-hub and holding onto two-man-made islands that keep attempting suicide by drowning themselves – Dubai.

I like you…ya3ni
Are you sitting down? Let’s begin with an admission. I now like Dubai. Yep, you read correctly…L-I-K-E….Not a great deal mind, but certainly enough to admit it.

Those that have spent time reading through articles (some, like those in the UK press, have been too full of vitriol, bordering on the racist), endlessly dissecting Dubai’s “grotesquely unauthentic” image, often with a barrage of insults towards its pricing structure in particular - with soft-shell crabs and vodka shots costing WAY too much, uhhhm… - will wonder how this admission of “liking” the city has arisen.

Well, gone are the “I-can’t-believe-how-hot-it-is” property bandits from certain parts of the UK - hopefully comfortably re-ensconced in picturesque settings like..ermmm..Sheffield. In, are those seeking an excellent infrastructure, safe and secure living environment and a growing sense of community and opportunity in an otherwise all-too-often gloomy and uninspiring global environment. In, are corporates and entrepreneurs attracted to the smart and canny combination of global-access through an efficient and well-run airline and comfortable residential options with a growing level of service (still some way to go here but definitely getting better). In, are restaurateurs providing innovative and refreshing dining environments (like La Petite Maison – shameful plug maybe, yes…but I look forward to my future free meals - worth eliciting shame for) with a rapidly improving benchmark of quality and ambience.

Overall, in a slow-blink-through-the-sandy-sunshine, Dubai has become a more than reasonable and worthy living environment. Well..at least for eight-ish bearably-warm months of the year. Better not to mention the other four-ish. Oh come on..you weren’t expecting a sudden total admission of love for the city were you?

The big question that still remains is what is going to happen to the Dubai with the on-going regional issues (read: Iran), neighbourly demonstrations of influence/recognition envy (read: Qatar) and even-closer-to-home-efforts of Abu Dhabi’s own aspirations? I would direct you to a simple comparison. Go and sit in any random café and/or public place in the GCC (if you are a woman reader, you may have to choose both your location and attire carefully in some of those countries) and simply watch the world transpire around you. Pay careful attention to the sense of freedom, the vibe of expectation, lightness of emotional concern and sentiment, then admit where you would rather position yourself if you had to.

When the crisis really hit in 2009, some ugly skeletons jumped out of some deeply dark Dubai closets. As with any moment of fright, the initial reaction was shock and seeming indecisiveness. It was noted back then that time would tell. In the absence of time-travel (for now – come on CERN!), an optimistic peak into Dubai’s future holds nothing but rising success, as its mix of almost-efficient efficacy and lofty-aspiration resonates pleasingly against its successful hospitality offerings. Cash generation and project execution are its strengths. Imagine a future Dubai laden not only with an enticing and stimulating vision, but with access to Abu Dhabi’s wealth. Wow.

Flash-forward…
As we know, a lot can happen in a week. We may have another global financial meltdown by the time this weekend arrives. Clashes may erupt into more serious conflicts. NetFlix may become just another app in the unstoppable rise of Facebook – we really need to talk about that whole Facebook thing by the way..next time. Who knows..maybe even Saudi women might be allowed to vote before we reach Wednesday?..oh wait..that’s already happened! Who’s going to drive them to the polling stations though?

At this moment, with all awaiting us this coming week, that deep underground-tunnel, humming beneath the majestic Alps leading to God-knows-where-through-Quantum-worm-holes, sure is looking like a fun ride out of this dimension.

Comments and discussion most welcome.

Hani Kobrossi

2 comments:

  1. I agree: come on CERN!!!

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  2. Why the pain? How about this for a thought? Despite partying hard in saks 5th ave for most of the last decade the US will not have to endure much pain as they repay their credit cards. How? This relatively silver bullet is called inflation. This is how the greatest nation on earth got on top of their debt after WW2 and how a democracy often deals with a big load. Expect to pay 10% more (in USD) for drinks in the beautiful Crosby hotel next year. And how will this be achieved? Well by politicians acting like children. It means the central bank deals with the mess and their single tool is inflation. So why are you hoarding those 30yr govt bonds yielding less than 3%. They will probably make for a cheap alternative to toilet paper in a few years time. So the Chinese are well stocked in this department. Buy property (yes even in Dubai) buy an expensive swiss watch, buy a bank (not in Europe however) just get your hard earned cash out of anything that is not an inflation hedge.

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