.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
Only 1 in 10 Europeans see US as an ally — study
3 hours ago
Thursday, 1 April 2010
WHATs THE CATCH?
Obama Clears Way for Oil drilling off US Coasts . . .
. . . . . Sean Linnane reads the tea leaves . . .
. . . . . . . . . . . . . STORMBRINGER
Wednesday, 31 March 2010
Reason TV: 3 Reasons Why Public Sector Employees are Killing the Economy
This also applies to the UK.
News........
£77m Benefits Paid To Dead People Last Year
Chocolate bar a day cuts risk of stroke
The Real Anti-Americans
White Zimbabwe farmers win South Africa property
Tony Blair under pressure to explain if he is avoiding UK taxes
EXCLUSIVE: Iran Nuclear Scientist Defects to U.S. In CIA 'Intelligence Coup'
'Super-taser' that fires 500 volt 'bullet' considered for UK use
Family feud over fortune of Swedish tramp who made millions from tin cans
Moscow metro: 19 black widows could launch fresh attacks
Online sex shop a hit with Muslims
Chinese fishermen find dead babies dumped in river
Army food: the battle of the bulge
Animal mass grave discovered at Chinese zoo
World War III Has Already Begun
Mainstream Media Outraged Over Tea Party Protests, But Silent About Far-Left Hatred
Self-inflicted wound..........from Rico
Even if the doorknobs in Washington are clueless (or pretend to be), on some level most of us know that a day of reckoning is almost at hand.
It's been a really swell party, but the bill for it is about to come due. No dine-n-dash can outrun the economic death spiral we are currently in.
Q: How did this happen?
A: DEBT
The US has spent trillions of future generations dollars PLUS piled up phenomenal levels of household, corporate, and government debt.
It's not just the USG, but millions of individual Americans that have been living beyond their means for many years.
- This has been building since the 1960's.
- This has been self-inflicted. No one held a gun to America's collective head (well, not until Congress of late, anyway) and forced them to drive Lexus cars and live in McMansions, etc.
- In fairness, how can you expect people too stupid to balance their own checkbooks to try and control Washington's thieving politicians, much less understand that electing Marxists to run the country is economic suicide?
The damage has already been done. This situation is unsustainable. The party is nearly over.
- I think I see the concierge heading this way with the bill.....
This is gonna hurt!!!!!
Tuesday, 30 March 2010
Tony Blair's revival...
Seeing as Brown has brought back Tony Blair, I thought I might suggest my Blair piece. In it I describe how he seems to be teflon and able to reinvent himself with no blowback from his past deeds.
News..........
Earth Hour Special
Health premiums could rise 17 pct for young adults
Exclusive Photo Refutes Republican Lie that ObamaCare Failed to Include Mandate for Covering Pre-Existing Conditions.·
Hollywood-style sign for Essex town Basildon
Gordon Brown apologises to Joanna Lumley over Gurkha row
Russia braced for new wave of terror attacks
Britain needs a damn good rocket
Korean War mine 'sunk' South Korean navy ship
Afghanistan: Nato to launch Kandahar assault in June
Volcano tsunami could sink southern Italy 'at any time'
Australian family stranded on Pacific island
Coastguard opens fire on Somali pirates to save hostages
Silvio Berlusconi holds off opposition challenge as coalition shifts right
and finally......
The 10 most annoying corporate-speak phrases and what they really mean
Maritime Disasters of WWII
It's patriotic..................from Rico
That reknowned "deep-thinker" foprmerly of the Senate, Joe Biden is a numbnuts.
He recently remarked that we should pay our taxes (higher taxes) because it was patriotic.
- That 'menu' was missing from the copy of TurboTax software that Timmy Geithner gave me.
The attached chart has convinced me that "paying taxes is glorious" and there is nothing I would rather do than "buy government bonds (debt)."
Yee-hawww.....
America's Dictatorship
America's Most Privileged Class: the Government Hack. Make sure and visit the Classic Liberal at his site.
Demonstrate Your Ability
London, England
Sales guru, Geoff Burch is at it again. Here he is with Sales Tip No. 61 or #61 if you're reading this in the USA:
Selling is a profession for the showman and Geoff is one of the very best.
To find out more about Geoff, visit his excellent sales website
To find out more about me visit Jeremy Jacobs - Event Host & Presenter
Monday, 29 March 2010
Random Thoughts for the Day.........
I think part of a best friend's job should be to immediately clear your computer's history if you die.
There is great need for a sarcasm font.
How the hell are you supposed to fold a fitted sheet?
I can't remember the last time I wasn't at least kind of tired.
Bad decisions make good stories.
I'm always slightly terrified when I exit out of Word and it asks me if I want to save any changes to the ten-page paper that I swear I did not make any changes to.
I keep some people's phone numbers in my phone just so I know not to answer when they call.
I think the freezer deserves a light as well..
H/T Old Dude
News........
Just Like Bush! Obama Makes Surprise Visit to Afghanistan!
Germans lose fear of climate change after long, hard winter
Armed gang steals hundreds of thousands in Swiss casino raid
Iran 'building two new nuclear enrichment plants'
'Special relationship' with US is over, MPs claim
Queen withdraws from Canadian military tattoo in row over staircase
Iraq election results in doubt as winners face disqualification
and finally.......
ObamaCare's CLASS Failure
CRE walking backwards off a cliff............from Rico
CRE is walking backwards off a cliff.
CRE is a bigger "bubble" than the "sub-prime" residential bubble, and it will have a bigger CRASH, but it's not being talked about much.
- Heck, it 'might' panic the peasants and serfs...better keep telling them in the MSM (especially on TV) that a "recovery" is under way right now. Buy Bonds and Stocks!!
For anyone who detunes from "Prancing With the Stars, American Idiot" or ANY of the fake-but-could-be-real "reality" shows on TV, this is what is actually happening:
There will be a significant number of bankruptcies of Developers and a signiificant number of failures of Community Banks in the years ahead.
- 3,000 Community banks (about 40% of the US banking system) have toxic percentages of exposure to CRE loans. Instead of the "too big to fail" mantra we are ceaselessly bludgeoned with by the financial Talking Heads, think instead "too small to succeed." These smaller banks were essentially locked-out of the residential loan market, so became overexposed to C&D (construction and development) and CRE (commercial real estate) loans. Lucky them.
Last month Moodys (Moodys Delinquency Tracker) reflected the CMBS delinquency rate increasing at the fastest rate so far. All sectors tanked (hotels-office-multi.family) but retail was the worst of the lot. [chart]
- hotel occupancy is down 61%
- architectural billing has declined steadily since 2008 (they design C&D projects)
- CRE rents have dropped for an unprecedented five straight quarters
- mall and strip mall rents are declining while vacancy rates are the highest in 10 years (malls) and are hitting 18-year highs (strip malls)...and averaging 18% and climbing vacancy for ALL US office space
- CRE values have fallen to early 2003-levels, having dropped 40% below the Oct 2007 peak values...walking backwards
The really LARGE losses will start in 2011 and increase from there but the wave has started with the default rate for CRE mortgages held by all US banks more than doubling 4Q2009.
- The official FDIC list of "problem" banks was over 700 by the end of 2009 (compare that to the 2008 list of 252 banks). My best guess is that the "real" list is well over 1,000 banks....and that's the "official" list, the unofficial count will be thousand(s) plural. All small to mid-sized community and regional banks.
- Banks are currently 'telegraphing' to us what lies just ahead by having stopped all CRE lending! They must know something you don't know (well, in fairness, you aren't being told how bad it really is or how bad they think it really will get). [chart]
CRE loans typically have 5-10 year rollovers, and today over half (even most) borrowers do not qualify for rollover or refinance.
- Guess what happens to CRE prices when CRE borrowers start to walk away from "underwater" properties?
Using Obama-Soetoro's favorite words, it will be a financial disaster of "unprecedented" proportions. If you liked the "change" residential real estate gave us, you'll just LOVE this"change".....
Subscribe to:
Posts (Atom)
