Let's Talk About Something Important Today
posted by Dean ASC at 9:32 AM
Dean Rules!
Don't forget to feed the cat.
I don't know what you people are always talking about. I totally expected The Spanish Inquisition. No surprises for me there.
Woah, I know Kung Fu
Hit Counters are Unique and Total
5 Comments:
So while we can see what's beginning to happen in the market, what kind of bearing does this have on, say, my life, or someone similiarly situated as myself?
The thing of it is, I could have told you this was going to happen a few years ago. $15 million dollar homes in Bridger Pass were not selling for $15 million... they were sitting on the market for years with friends of mine "House sitting" for the owners.
What I'm more interested in is the larger pictures this trend is framing.
any thoughts?
Credit dries up for those with less then sterling ratings. In order to make interest rates stay low and keep payments affordable the Fed injects cash into the banking system. Fractional reserves allow this cash to inflate and stimulate another round of lending. An already spooked market place chooses to avoid real estate as an investment speculation vehicle. Real estate prices actually deflate however too much cash chasing too few goods causes inflation in other sectors. It's an election year. The Fed further juices the money supply upon the orders of congress as voters will full bellies, short memories and no foresight don't vote out incumbants. We're well on our way toward hyperinflation.
Well, when I walk around the mall I see a lot more moneyed-up Asians and Arabs and people from Eastern Europe like never before. The cream rises to the top. Rich people of all of the growing Third World countries will eventually want to own a piece of America. I guess I don't think things are so dire. I'm not selling so perhaps I'm biased. This is certainly an odd time. During the early eighties home values in Massachusetts dropped 11%. Of course, that was at the end of the industrial 20th century. Will America just become a big playground for the world's rich? Our service economy seems to be the only growth area. Hmmmm...
Our service economy didn't grow through increased tourism. It grew through cheap home equity loans and Americas lazy squirrel habit of partying when times are good and partying twice as hard when times are bad.
Sadly I don't see any more lucky nuts that we can bust into when winter comes. We really shouldn't have lost our manufacturing base.
It would be a tragedy to turn the United States into one giant Acapulco, Jamaica or Bali.
If it turned into Bali, I would start a Gamelon and entertain the Balinese when they came to visit.
One of the best years of my musical life was spent playing in a Gamelon.
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