THIS Is The Real Cap And Trade Effect
The current administration is appearing to make a concerted effort to destroy the engine of our economy; small businesses.
David McArthur, a small businessman, on ‘Your World’:
And Now For The Commercial Real Estate Bubble
Remember this back on 4.24.09:
The Commercial Real Estate Bubble…Coming To A Bank Near You
I know you folks are very savvy, paying attention, and doing math with a real pencil instead of a red crayon, so what comes next is NO SURPRISE to you. Are we all ready for the next part of the rollercoaster ride when the commercial real estate bubble implodes? If you still have money in the stock market, why is that? (Once again, bold emphasis is mine, and may I repeat how screwed we are?)
Well today, 7.9.09, we have this:
Commercial real estate woes grow
WASHINGTON — Owners of shopping malls, hotels and offices are defaulting on their loans at an alarming rate, and the commercial real estate market is not expected to hit bottom for three more years, industry experts warned Thursday.
“The commercial real estate time bomb is ticking,” said Rep. Carolyn Mallory, D-N.Y., who heads the congressional Joint Economic Committee.
Delinquency rates on commercial loans have doubled in the past year to 7 percent as more companies downsize and retailers close their doors, according to the Federal Reserve. Small and regional banks face the greatest risk of severe losses from commercial real estate loans.
The commercial real estate market’s fortunes are tied closely to the economy, especially unemployment, which hit 9.5 percent in June. As people lose their jobs, or have their hours reduced, they cut back on spending, which hurts retailers, and take fewer trips, which hits hotels.
Funding for commercial loans virtually shut down last year as the financial system unraveled. Industry executives say financing is still extremely difficult to obtain, even for financially healthy properties.
While that may seem like an abstract problem, it has real-world consequences. New construction projects have come to a virtual standstill. That means reduced tax revenue for local governments and fewer construction jobs, said Jeffrey DeBoer, chief executive of the Real Estate Roundtable, an industry group.
The commercial property industry is “not going to turn around until consumers and businesses start spending money again,” he said.
Total losses in securities backed by commercial property loans could be as high as $90 billion in the coming years, according to Deutsche Bank analyst Richard Parkus. He says even more losses — up to $140 billion — are expected from construction loans made by regional and local banks, rather than those sold as securities held by investors.
“We believe the bottom is several years away,” Parkus told lawmakers.
Are you ready folks? Still have money in the stock market?
The Media’s Message About Palin
I have been watching and reading what the MSM have been saying about Sarah since her resignation on 7.3.09 and the message that their masters have given them to spew forth over and over again in a new mantra of attack is this; Palin has no experience, an almost transparent resume, she is leaving the only job that would give her experience, and therefore, her message cannot possible be correct because it is not based on anything.
Here is just one example of the numerous I have read over the last few days, and the blinding omission of the obvious; Barack Obama has even less experience. This snake oil salesman and frontman for the shadow chess players was a “community organizer” and served only 143 days in the Illinois Senate before starting his alexandrian campaign for the White House.
I found this story over at CQ Politics and it was written by David Corn about Time Magazine.
In a classic example of newsmagazine overthink, Time profiles Sarah Palin with a cover story that practically celebrates her thin résumé and essentially makes the case that know-nothingism could be good for America. Seriously:
“Palin’s unconventional step speaks to an ingrained frontier skepticism of authority — even one’s own. Given the plunging credibility of institutions and élites, that’s a mood that fits the Palin brand. Résumés ain’t what they used to be; they count only with people who trust credentials — a dwindling breed. The mathematics Ph.D.s who dreamed up economy-killing derivatives have pretty impressive résumés. The leaders of congressional committees and executive agencies have decades of experience — at wallowing in red ink, mismanaging economic bubbles and botching covert intelligence.”
If ever there has been a time to gamble on a flimsy résumé, ever a time for the ultimate outsider, this might be it. “We have so little trust in the character of the people we elected that most of us wouldn’t invite them into our homes for dinner, let alone leave our children alone in their care,” writes talk-show host Glenn Beck in his book Glenn Beck’s Common Sense, a pox-on-all-their-houses fusillade at Washington. Dashed off in a fever of disillusionment with those in power, Beck’s book is selling like vampire lit, with more than 1 million copies in print.
Citing Glenn Beck as proof that many Americans are eager to turn to a pol with little expertise in national policy? But didn’t the country just have an election? And didn’t a significant majority vote for the guy with two Ivy League degrees who talked about bringing professionalism, science, and expertise back to policymaking in Washington? (Anyone remember Palin’s climate change denialism? Not the Time people.)
Didn’t 69 Million incredibly gullible people buy the MSM marketing of a candidate that has no experience and even more questionable judgement? It is no wonder we are in this mess when Americans are voting with their emotions instead of their cranial faculties.
You may or may not like Sarah or agree with her; that’s not the point of this post. The point is to watch what the Media is stating about her and see the reverse marketing approach that they are making in hopes of slowing down her message by discrediting her personally and professionally.
I personally am glad that with all that is happening in the beltway, we at least have one adult speaking the truth above the heads of the crack-smokin’ congress and the hormonally challenged teenagers in the White House.
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TECHNOCRACY RISING!
FOR THOSE THAT DON’T BELIEVE THE DEEP STATE EXISTS; THIS UNCONSTITUTIONAL PIECE OF GARBAGE STILL HAS NOT BEEN REPEALED!
