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Now the $700 billion of commercial-mortgage-backed securities outstanding are being tested for the first time by a massive downturn, and the outcome so far hasn't been pretty.
Here's some more ammo for the firing squad.
http://www.rasmussenreports.com/pub...ministration/daily_presidential_tracking_poll
Bo will be up for impeachment by the fall of 2010.
His own party will throw him to the wolves to save themselves.
Federal Reserve and Treasury officials are scrambling to prevent the commercial-real-estate sector from delivering a roundhouse punch to the U.S. economy just as it struggles to get up off the mat.
Their efforts could be undermined by a surge in foreclosures of commercial property carrying mortgages that were packaged and sold by Wall Street as bonds. Similar mortgage-backed securities created out of home loans played a big role in undoing that sector and triggering the global economic recession. Now the $700 billion of commercial-mortgage-backed securities outstanding are being tested for the first time by a massive downturn, and the outcome so far hasn't been pretty
Here in michigan we have lead everything that is bad in the economy, We are just on the cusp of a total commercial realestate failure. No matter what the FED does it's too damn late, I know investors that have built the strip-malls & box stores that have sat unoccupied for years. This state is loaded with vaccant buildings from the south to the north & east to west. This bomb will be exploding before the year is over. Wish us luck!
That is the real sad part Gainster, Bo has plenty of money in the so called stimulus fund to do a lot of good in areas like yours but he is saving it to buy the votes for his next election. He must have some great thinkers hired. Cash for clunkers is a great example. We have to get rid of this clown SOON.
Me! I have always grown a big garden I used to raise about half of our potatoes but now I have about a half acre laid out to plow up for potatoes for us and to barter with the neighbors. I have all the deer really tame but we know them all by their first names so I would have to go a mile to the mountain to hunt. Still I think we could get by, Where I was brought up we cut our own wood and had a kerosene generator for lights and we got along fine. Better than living under Bo's thumb.
*IF* Russian Professor Igor Panarin's predictions come true
we are f00000ked!!
It'll be much much worse than any time previous, Americians (as a stereotype) are lazy, fat and totaly dependant on services.
As a whole we arn't the hardy people we used to be, like back in the 30's. How many %'s of Americians know how to grow a tomato? Or have a place to grow one?
We are talkin massive death
Bo will be up for impeachment by the fall of 2010.
His own party will throw him to the wolves to save themselves.
It's funny how on here and in the real world, I don't hear people defending him like they used to. I hate to say I told you so but.........
If that happens that would make the last two democratic presidents impeached!![]()
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Hmmm, you don't suppose that the democratic party will take him down to save themselves?