Journalists love a cliché, few more so than "the dog that did not bark". It is a bit like the American newsman's desire to find the "smoking gun" - the damning evidence that identifies the guilty party. The non-barking dog refers to an incident in Silver Blaze, a Sherlock Holmes story, which contains the following exchange between the famous sleuth and a Scotland Yard detective:
Gregory (Scotland Yard detective): "Is there any other point to which you would wish to draw my attention?"
Holmes: "To the curious incident of the dog in the night-time."
Gregory: "The dog did nothing in the night-time."
Holmes: "That was the curious incident."
This observation is trotted out whenever there is a political or economic crisis to consider. Soon, respected commentators will be using it to try to determine why we were not warned there was about to be the largest economic downturn since the Great Depression. Who was the dog and why was he silent?
Let's examine the evidence, as Mr Holmes would have done, although we won't bother with a clay pipe and strong shag tobacco. Perhaps a shisha would do, instead. Who are the main suspects? Obviously we should blame the bankers themselves. They must have known, or at least suspected, that their pyramid schemes were not sustainable. Selling assets that are going to default on the second payment is not a business model, it's a recipe for disaster. However, we cannot blame the bankers. While we may curse and fume at their greed, we must also appreciate their ability to empty their banks' vaults and wait for the taxpayer to recapitalise them, before the process starts all over again. So. No silent barking dogs there.
What about the ratings agencies? Surely as guilty as the bankers? They were busy giving ratings to bonds that, rather than "triple-A" rated, were junk. Should they have made the odd growl, perhaps a little bark? Obviously not. The hard-working analysts were paid to give a good rating. Cut back on the triple-As and they would lose future business. It is no surprise that they, too, were silent.
Some suggest that the lawyers might have piped up and howled like crazy, thus raising the alarm and preventing the nobbling of the famous racehorse. This is absurd. Lawyers are paid to be objective. "No objections, m'Lud," is their catchphrase. You may curse and blame them, but this is the nature of lawyers.
This is becoming a three-shisha problem. If we knew of a group of market gardeners that roared around in Ferraris rather than pick-up trucks, we would suspect that they were selling marijuana rather than magnolias. And we would probably be right. So why did everybody assume that every banker over 30 had the right to drive fast cars? Why did nobody bark?
Perhaps we might have expected something from all the economists and academics. There were some lone voices constantly whining about excesses, but such types are best ignored. Who wants to be the one calling an end to a party?
It pains me to have to do this, but I fear I must now turn my attention to my own trade. You want journalists to inform and entertain you. But don't they also have a duty to warn you when somebody's fingers are in the till? Whatever happened to Thomas Carlyle's fourth estate, designed for keeping the king, lords and commoners in check?
The American press was soundly condemned for acting as cheerleader when President George W Bush declared war on Iraq. With a few notable exceptions, they preferred "to embed" rather than question the motives for going to war in the first place. However, if they were lax in that instance, the last 10 or 15 years has seen them behaving like public relations consultants for Wall Street.
You might expect Vanity Fair to run its fair share of puff pieces on the marvellous folk in Armani suits. But what were The Wall Street Journal and Financial Times up to exactly? And what of Bloomberg and Reuters and Euromoney? If General Motors and BMW kept making defective cars that crashed after 10 minutes' driving, wouldn't you expect the motoring hacks to tell you?
The British press is probably even more craven than its trans-Atlantic counterparts. Few understand finance. There was a time when each paper had at least one Marxist in a mackintosh covering the city because he secretly longed for its downfall. Now the hacks are all carrying Apple Macintoshes, hoping that some investment banker will notice their diligence or sycophantic articles and do them the supreme honour of giving them a job and the prospect of a juicy bonus. Their editors are no better. The Sunday Times' idea of investigative journalism nowadays is its Rich List, which celebrates every year how much richer the robber barons have become. It should be renamed the Greed List.
As the charcoal glows on my third shisha pipe, perhaps the reason why the dog didn't bark is because it was chewing on a juicy bone. We were all part of a conspiracy that we wanted to believe in. We wanted cheap credit and toys from China and we didn't want anybody to take them away. Nobody listened to warnings, just as nobody listens to the person who warns you to pack an umbrella for a picnic.
You can hear the dogs howling now that the bones have been taken away and the sound of stable doors being bolted. The dogs will continue barking as unemployment rises, house prices fall and the dollar tanks, until everything stabilises. And then the journalists will be thrown another bone and everything will go quiet again.
rwright@thenational.ae
UAE currency: the story behind the money in your pockets
The end of Summer
Author: Salha Al Busaidy
Pages: 316
Publisher: The Dreamwork Collective
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Sarfira
Director: Sudha Kongara Prasad
Starring: Akshay Kumar, Radhika Madan, Paresh Rawal
Rating: 2/5
THE SPECS
Engine: 1.5-litre, four-cylinder turbo
Transmission: seven-speed dual clutch automatic
Power: 169bhp
Torque: 250Nm
Price: Dh54,500
On sale: now
The specs
Engine: 6.2-litre V8
Transmission: seven-speed auto
Power: 420 bhp
Torque: 624Nm
Price: from Dh293,200
On sale: now
Coffee: black death or elixir of life?
It is among the greatest health debates of our time; splashed across newspapers with contradicting headlines - is coffee good for you or not?
Depending on what you read, it is either a cancer-causing, sleep-depriving, stomach ulcer-inducing black death or the secret to long life, cutting the chance of stroke, diabetes and cancer.
The latest research - a study of 8,412 people across the UK who each underwent an MRI heart scan - is intended to put to bed (caffeine allowing) conflicting reports of the pros and cons of consumption.
The study, funded by the British Heart Foundation, contradicted previous findings that it stiffens arteries, putting pressure on the heart and increasing the likelihood of a heart attack or stroke, leading to warnings to cut down.
Numerous studies have recognised the benefits of coffee in cutting oral and esophageal cancer, the risk of a stroke and cirrhosis of the liver.
The benefits are often linked to biologically active compounds including caffeine, flavonoids, lignans, and other polyphenols, which benefit the body. These and othetr coffee compounds regulate genes involved in DNA repair, have anti-inflammatory properties and are associated with lower risk of insulin resistance, which is linked to type-2 diabetes.
But as doctors warn, too much of anything is inadvisable. The British Heart Foundation found the heaviest coffee drinkers in the study were most likely to be men who smoked and drank alcohol regularly.
Excessive amounts of coffee also unsettle the stomach causing or contributing to stomach ulcers. It also stains the teeth over time, hampers absorption of minerals and vitamins like zinc and iron.
It also raises blood pressure, which is largely problematic for people with existing conditions.
So the heaviest drinkers of the black stuff - some in the study had up to 25 cups per day - may want to rein it in.
Rory Reynolds
MANDOOB
Director: Ali Kalthami
Starring: Mohammed Dokhei, Sarah Taibah, Hajar Alshammari
Rating: 4/5
Company Profile
Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government
FIXTURES
Thu Mar 15 – West Indies v Afghanistan, UAE v Scotland
Fri Mar 16 – Ireland v Zimbabwe
Sun Mar 18 – Ireland v Scotland
Mon Mar 19 – West Indies v Zimbabwe
Tue Mar 20 – UAE v Afghanistan
Wed Mar 21 – West Indies v Scotland
Thu Mar 22 – UAE v Zimbabwe
Fri Mar 23 – Ireland v Afghanistan
The top two teams qualify for the World Cup
Classification matches
The top-placed side out of Papua New Guinea, Hong Kong or Nepal will be granted one-day international status. UAE and Scotland have already won ODI status, having qualified for the Super Six.
Thu Mar 15 – Netherlands v Hong Kong, PNG v Nepal
Sat Mar 17 – 7th-8th place playoff, 9th-10th place playoff
EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE
Edinburgh: November 4 (unchanged)
Bahrain: November 15 (from September 15); second daily service from January 1
Kuwait: November 15 (from September 16)
Mumbai: January 1 (from October 27)
Ahmedabad: January 1 (from October 27)
Colombo: January 2 (from January 1)
Muscat: March 1 (from December 1)
Lyon: March 1 (from December 1)
Bologna: March 1 (from December 1)
Source: Emirates
RoboCop: Rogue City
Developer: Teyon
Publisher: Nacon
Console: PlayStation 5, Xbox Series X/S and PC
Rating: 3/5
TWISTERS
Director:+Lee+Isaac+Chung
Starring:+Glen+Powell,+Daisy+Edgar-Jones,+Anthony+Ramos
Rating:+2.5/5
Company Profile
Company name: Cargoz
Date started: January 2022
Founders: Premlal Pullisserry and Lijo Antony
Based: Dubai
Number of staff: 30
Investment stage: Seed
How it works
Each player begins with one of the great empires of history, from Julius Caesar's Rome to Ramses of Egypt, spread over Europe and the Middle East.
Round by round, the player expands their empire. The more land they have, the more money they can take from their coffers for each go.
As unruled land and soldiers are acquired, players must feed them. When a player comes up against land held by another army, they can choose to battle for supremacy.
A dice-based battle system is used and players can get the edge on their enemy with by deploying a renowned hero on the battlefield.
Players that lose battles and land will find their coffers dwindle and troops go hungry. The end goal? Global domination of course.
The specs
Engine: 4.0-litre, twin-turbocharged V8
Transmission: nine-speed automatic
Power: 630bhp
Torque: 900Nm
Price: Dh810,000
COMPANY PROFILE
Company name: Klipit
Started: 2022
Founders: Venkat Reddy, Mohammed Al Bulooki, Bilal Merchant, Asif Ahmed, Ovais Merchant
Based: Dubai, UAE
Industry: Digital receipts, finance, blockchain
Funding: $4 million
Investors: Privately/self-funded
More from Neighbourhood Watch:
'The Ice Road'
Director: Jonathan Hensleigh
Stars: Liam Neeson, Amber Midthunder, Laurence Fishburne
2/5
Company profile: buybackbazaar.com
Name: buybackbazaar.com
Started: January 2018
Founder(s): Pishu Ganglani and Ricky Husaini
Based: Dubai
Sector: FinTech, micro finance
Initial investment: $1 million
RESULTS
Men – semi-finals
57kg – Tak Chuen Suen (MAC) beat Phuong Xuan Nguyen (VIE) 29-28; Almaz Sarsembekov (KAZ) beat Zakaria Eljamari (UAE) by points 30-27.
67kg – Mohammed Mardi (UAE) beat Huong The Nguyen (VIE) by points 30-27; Narin Wonglakhon (THA) v Mojtaba Taravati Aram (IRI) by points 29-28.
60kg – Yerkanat Ospan (KAZ) beat Amir Hosein Kaviani (IRI) 30-27; Long Doan Nguyen (VIE) beat Ibrahim Bilal (UAE) 29-28
63.5kg – Abil Galiyev (KAZ) beat Truong Cao Phat (VIE) 30-27; Nouredine Samir (UAE) beat Norapat Khundam (THA) RSC round 3.
71kg – Shaker Al Tekreeti (IRQ) beat Fawzi Baltagi (LBN) 30-27; Amine El Moatassime (UAE) beat Man Kongsib (THA) 29-28
81kg – Ilyass Hbibali (UAE) beat Alexandr Tsarikov (KAZ) 29-28; Khaled Tarraf (LBN) beat Mustafa Al Tekreeti (IRQ) 30-27
86kg – Ali Takaloo (IRI) beat Mohammed Al Qahtani (KSA) RSC round 1; Emil Umayev (KAZ) beat Ahmad Bahman (UAE) TKO round
Venom
Director: Ruben Fleischer
Cast: Tom Hardy, Michelle Williams, Riz Ahmed
Rating: 1.5/5
'Cheb Khaled'
Artist: Khaled
Label: Believe
Rating: 4/5
COMPANY PROFILE
Company: Eco Way
Started: December 2023
Founder: Ivan Kroshnyi
Based: Dubai, UAE
Industry: Electric vehicles
Investors: Bootstrapped with undisclosed funding. Looking to raise funds from outside
COMPANY PROFILE
Company name: Silkhaus
Started: 2021
Founders: Aahan Bhojani and Ashmin Varma
Based: Dubai, UAE
Industry: Property technology
Funding: $7.75 million
Investors: Nuwa Capital, VentureSouq, Nordstar, Global Founders Capital, Yuj Ventures and Whiteboard Capital
The specs
Engine: Single front-axle electric motor
Power: 218hp
Torque: 330Nm
Transmission: Single-speed automatic
Max touring range: 402km (claimed)
Price: From Dh215,000 (estimate)
On sale: September
The specs: 2019 Infiniti QX50
Price, base: Dh138,000 (estimate)
Engine: 2.0L, turbocharged, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 268hp @ 5,600rpm
Torque: 380Nm @ 4,400rpm
Fuel economy: 6.7L / 100km (estimate)
Women’s T20 World Cup Qualifier
UAE results
Ireland beat UAE by six wickets
Zimbabwe beat UAE by eight wickets
UAE beat Netherlands by 10 wickets
Fixtures
UAE v Vanuatu, Thursday, 3pm, Zayed Cricket Stadium
Ireland v Netherlands, 7.30pm, Zayed Cricket Stadium
Group B table
1) Ireland 3 3 0 6 +2.407
2. Netherlands 3 2 1 4 +1.117
3) UAE 3 1 2 2 0.000
4) Zimbabwe 4 1 3 2 -0.844
5) Vanuatu 3 1 2 2 -2.180
What is cystic fibrosis?
- Cystic fibrosis is a genetic disorder that affects the lungs, pancreas and other organs.
- It causes the production of thick, sticky mucus that can clog the airways and lead to severe respiratory and digestive problems.
- Patients with the condition are prone to lung infections and often suffer from chronic coughing, wheezing and shortness of breath.
- Life expectancy for sufferers of cystic fibrosis is now around 50 years.
MATCH RESULT
Liverpool 4 Brighton and Hove Albion 0
Liverpool: Salah (26'), Lovren (40'), Solanke (53'), Robertson (85')
Brief scoreline:
Liverpool 2
Keita 5', Firmino 26'
Porto 0