ClevelandHD, following your explanation just the following:
#1 - Agreed.
#2 - Why should the employer protect you? You are employed in the UAE by a UAE company and are paid in UAE currency. The retirement fund/mortgage etc. that you have back home doesn't place any obligation on your employer, unless it specifies so in your employment contract. That is your own problem.
#3 - Inflation. Agree. Home currency. Again not the employers problem, but yours. Send back more money or sell the house and buy a cheaper one. Reduce your exposure to currency fluctuations.
#4 - You are not on a short term contract or hardship posting or something similiar. See #2 above.
#5 - UAE contracts. Agree. Your bank account. See #2,3,4.
#6 - You hit the nail right on the head - RISK. But this is a risk that you, me and every expat here took when we willingly came here and willingly signed the employment contract. As for the bosses pocketing millions, don't like it and maybe not entirely fair but, c'est la vie.
One can not expect government protection against global market forces. The UAE government, EK, EY, Mubadala et al. have absolutely no control over the world forex rates. They do have control over there own currency but chose to do nothing. They do have control over inflation and are taking artificial, long-term detrimental steps to curb this. As for your retirement fund/home currency, you're on your own mate.