Real Estate is a Beach

It's sure nice at the Jersey Shore. You can find out more, about these condominiums at Point Pleasant Beach, NJ. They are near Bay Head and Manasquan NJ, and one block from the beach. They are steps to New Jersey Transit, and mid-town Manhattan. If you want to keep warm in the winter, you'll have to buy something else a little further South.

I advise you to buy these if you love the (New) Jersey Shore Jersey Shore, not necessarily as an investment. On the other hand, neuh? it's better than buying beachside real estate in Bulgaria. Really, do you want a condominium in Bulgaria, even it it is still going up in value by 30% a year. That's a pretty long plane ride, and you could get in trouble with the Bulgarian mafia.

With the mortgage backed securities ready to collapse, you need to be cautious. Now Ford is hocking all their American factory real estate for $18-billion. If there is a blow out on that it is going to crash alot more. Speaking of crash, notice the dollar going down versus the Euro? That's why we need a New Bretton Woods, like my larouchepac.com friends say, to stabilize things.

Back to Real Estate as a Hobby

What if we could go back to the idea of real estate as a hobby. You know, you buy a nice little bungalow on the New Jersey shore, you hope the value goes up, but who cares? You get to enjoy it for the next twenty years of so. Maybe you can afford a beach condo ?
It's worth a try at least. With all the bankers like Robert Rubin of Citibank, and John C. Dugan, the Comptroller of the Currency, predicting imminent collapse of the US Economy and the dollar, it may be time to get out of paper and into real estate.
With the fear around the imploding real estate
bubble, I would forgive you, if you decide to settle for a beach rental, and spend the cash on some momentary pleasures. LaRouche is right, if we don't get the system reorganized soon, we may all not have too much time to say, apres moi le deluge!!! James Lockhart's speech to the New YOrk Bankers Association conference on Nov 9th was even wilder. It is true that banks face huge risks with their portfolios of mortgages from the last five years ago, where with looser regulation, the money went out, but it may not be coming back. Maybe, we are closing the barn doors after the horses got out.

Other Places for Real Estate?

The financial system is definitely in major trouble, which is an understatement. However the tendency is to blow up the bubble even more. Look at US Treasury Sec. Paulson, calling for more deregulation, despite Amaranth and Enron and things like that (See text of Paulson speech, Nov. 20th). If you want to invest in real estate, that may help a little, since it can't go down to nothing, but the American market is blown out in most places for a while. A consultant has turned me on to the company, Nubricks a source on information on the overseas real estate market.

They have a pod cast, and they seem to be Irish investors operating in part from London. Politically, that may not be such a hot number, but financially, nubricks is definitely where the action is. If the US market really tanks, the center of world financial action will tend to shift to London. That is the capital of the "Empire" after all. Of course, if Bush and Co. go ahead with the Iran war, all bets are off. That would really be a disaster, financially as well, if you know what $120/barrel oil means.

Oddly enough, Nubricks is actually pushing real estate investment in Morocco. Maybe they know something I don't know. Of course if you start with lower prices, there is more room to go up. When you pay $1.5 million for a 3-bedroom on the east side of New York, that about maxes out the credit card of even the IT guys, if you're still on a salary and no mega bonus.

If we can get a US led re-regulation of the system, this whole speculative thing can be calmed down. You may then not make as much money, but at least you won't be hung out to dry.

Meeting for Contractors- In the Real Estate Bubble

Living just enough for the city? Or are you living just enough for the bubble? I went to the meeting of the HPD, the New York Housing Preservation and Development Agency. At SOBRO, in the South Bronx at 555 Bergen Ave. It's some desperate people trying to get a piece of the pie, the $11 billion a year that New York City spends on housing. That sounds like a huge amount, but in today's market, one 50-story skyscraper can cost $1 billion or more.
The speaker was Reginald Evans, from HPD. He said the goals of the HPD is to increasse home ownership in the City of New York. They work with for profit but also non-profit corporations. One non-profit is organizing and financing housing for foster children, who upon reaching the age of 18, have no place to go, which is certainly a laudatory effort.

HPD is the city agency reponsible for dealing with housing violations, in terms of bad structure, leaks, problems with heating, etc. They are the ones who respond to code violations when you make a complaint by calling telephone #311.

The City of New York currently has a 10 year plan for spending $755 billion to build or renovate 165,000 units of housing. The focus of the lecture was how contractors can apply to work on these city contracts for HPD. The city has about 300,000 employees, so it's a big economic factor in general. Contractors can bid to satisfy city procurement in goods, construction, construction related contracts, human services and so on. The city signs 48,000 contracts a year with various companies and entities.

Twenty-five percent of procurement is with minority firms. The city has a new law from 2005, which is "Local Law 129", which tracks MWBE, which is Minority, and Women owned Business Enterprises. "Minority" is defined as people of Black, Hispanic or Asian ethnicity.
Mr Evans made a big emphasis that it is definitely worthwhile to be certified as a MWBE if you qualify. There is background checking that this is real ownership, meaning substantial and authoritive by Minorities and Women, not a dummy corporation. This law is something that Mayor Bloomberg brought back, after the former affirmative action program was removed by
Former Mayor Guiliani. If you are certified as a MWBE, it is a big marketing benefit, because they also check that you are a bonified construction operation, not some fly-by night company.

If you want to get this business, go to the New York City Record online, at http://a856-internet.nyc.gov/nycvendoronline/home.html and see what is available to work on.

Now if only the real estate bubble is reorganize so the whole thing doesn't go and collapse.

When the Dollar Crashes, What Then?

There seems to be a little problem if you are an American today, as opposed to an Australian, a Russian, a Frenchman, etc. Americans on the one hand seem to believe in the almighty dollar, and the dollar system. On the other hand, the others increasingly out of various sorts of "schadenfreude", joy in others misfortunes, more and more with the dollar to collapse 20 to 50 or more percent. What is wrong with this picture?

My dear Americans and non-Americans forget that George Pratt Schultz and company, while Nixon was present took the dollar off the gold exchange, fixed rate system and created a floating rate system instead. This system made the dollar in effect, no longer a US currency, but a kind of World Currency of the International Monetary Fund (IMF) system. So if because of the insanity of George Bush (the younger) and the thug-like mad shooter Dick Cheney, you wish to see the US dollar crash, there is one big problem. In effect there is no US Dollar anymore, there is a currency called the US Dollar that has been turned into a world wide fiat money, which if it crashed will create a 14th century style Bubonic plague, new dark age type of collapse. I mean, this is a possibility, already the amount of poverty and disease in the world is truly staggering. But, screwing up the Americans is not the answer. In a certain sense, it is not even the question!!!

Despite the games of the likes of Felix Rohatyn and Wilbur Ross, the US Auto industry and a good chunk of the world auto industry is going down the tubes. You can invest in Wilbur Ross' Hedge Funds and make a quick buck, but when the parasite destroys the host, the parasite will perish as well.

If we put the system into a bankruptcy reorganization, we can go back to having a US Dollar, and other currencies. Of course Euroland will have to go back to national currencies. They can use the Euro for accounting purposes, but the current Anglo-
dutch system means slavery to the private banking system, to globalization.

But what was the turning point in this process of decadence? It was after the Oct 1987 stock crash, when several months later, Alan Greenspan came into the Fed, and hit us with derivatives. And this is a totally willful decision. Do n't give me your free market doodoo mantra!! They created a new type of currency called derivatives, the side bets in the gambling casinos. The whole bunch of new instruments. Puts, collars, swaps, you name it.

The real estate bubble was created by a willful decision to use Fannie Mae and Freddie Mac to buy up all and any mortgages, and create $6 trillion of Mortgage Backed Securities, including,,,,,you guessed it , derivatives associated with the MBSs. So kids, it will also be a willful decision by the US Congress, to reverse this insanity. Mortimer Snerd and his nasty friend Cheney will just have to step aside. Or a double impeachment would certainly be an interesting spectacle.....

November 11th 2006 01:58

There seems to be a little problem if you are an American today, as opposed to an Australian, a Russian, a Frenchman, etc. Americans on the one hand seem to believe in the almighty dollar, and the dollar system. On the other hand, the others increasingly out of various sorts of "schadenfreude", joy in others misfortunes, more and more with the dollar to collapse 20 to 50 or more percent. What is wrong with this picture?

My dear Americans and non-Americans forget that George Pratt Schultz and company, while Nixon was present took the dollar off the gold exchange, fixed rate system and created a floating rate system instead. This system made the dollar in effect, no longer a US currency, but a kind of World Currency of the International Monetary Fund (IMF) system. So if because of the insanity of George Bush (the younger) and the thug-like mad shooter Dick Cheney, you wish to see the US dollar crash, there is one big problem. In effect there is no US Dollar anymore, there is a currency called the US Dollar that has been turned into a world wide fiat money, which if it crashed will create a 14th century style Bubonic plague, new dark age type of collapse. I mean, this is a possibility, already the amount of poverty and disease in the world is truly staggering. But, screwing up the Americans is not the answer. In a certain sense, it is not even the question!!!

Despite the games of the likes of Felix Rohatyn and Wilbur Ross, the US Auto industry and a good chunk of the world auto industry is going down the tubes. You can invest in Wilbur Ross' Hedge Funds and make a quick buck, but when the parasite destroys the host, the parasite will perish as well.

If we put the system into a bankruptcy reorganization, we can go back to having a US Dollar, and other currencies. Of course Euroland will have to go back to national currencies. They can use the Euro for accounting purposes, but the current Anglo-
dutch system means slavery to the private banking system, to globalization.

But what was the turning point in this process of decadence? It was after the Oct 1987 stock crash, when several months later, Alan Greenspan came into the Fed, and hit us with derivatives. And this is a totally willful decision. Do n't give me your free market doodoo mantra!! They created a new type of currency called derivatives, the side bets in the gambling casinos. The whole bunch of new instruments. Puts, collars, swaps, you name it.

The real estate bubble was created by a willful decision to use Fannie Mae and Freddie Mac to buy up all and any mortgages, and create $6 trillion of Mortgage Backed Securities, including,,,,,you guessed it , derivatives associated with the MBSs. So kids, it will also be a willful decision by the US Congress, to reverse this insanity. Mortimer Snerd and his nasty friend Cheney will just have to step aside. Or a double impeachment would certainly be an interesting spectacle.....