Where did the Crash Come From?

Who stopped the rain, and where did the crash come from? It came from the MBS. The Mortgage Backed Securities which are the second layer of the Ponzi pyramid called the housing bubble, the real estate bubble.

The mortgages crashed, you heard about that. The MBS and real estate bubble crashed too. That was a giant Ponzi scheme, including MBS bought by China and India investors. You know, Chinese Communist party billionaires bought US MBS (Mortgage Backed Securities). Foreclosures are the big business now. Countrywide Mortgage Brokers were bailed out by $11 billion, a bigger bail-out than in 1998 of LTCM. The system is finished folks. We have to create a bottom to the depression, or there will be no bottom. There will be a dark age, of collapse of home. Moves toward dictatorship and war adventures will only ACCELERATE the collapse. We need a new agreement on a no speculation financial system, and a stable dollar.

So, my patriotic flag-waving friends, cut it out. We need Russia, China, India. We cannot allow the British Empire apparatus create another Cold War. We need them, but they need us as well, because they know that if the dollar goes under, they are also broke.

And if you want to know how terrorism is really run, who is really supporting the Sunni counter-gang in Iraq. Is it Iran, no that is impossible, they are with the Shiites. It is the British Aerospace Enterprise (BAE) apparatus, together with their Saudi, and Israeli and other friends. This is not top secret, you have Amb. Khalilizad from Bush's own admin., at the UN alluding to this. Stop getting screwed by a bleepin British countergang, they have been doing this since giving booze and guns to the American Indians, to attack the Amer. colonies, before the American Revolution. Doesn't anyone read history anymore?

This is beginning to sound like the guy at a bar, with a live frog, trying to pick up a girl, telling her the frog can...do stuff... (Anybody know that one?)

All I Want to Do is Have Some Fun

If the financial collapse has got you down, why not sing a song, and get some Hawaii of those Hawaii Homes for Sale.

All I want to do is have some fun/ In Hawaii, I think I'm not the only one. Until the sun come up over Wakkikki Beach and Boulevard. Now, I think you are getting into it. And in case you didn't know, Oahu real estateis in the island that is the home of the capital city of Honolulu, and the place where Wakkikki beach is.
Don't delay, because of environmental restrictions, there is a limited area that can be built up on Oahu, so real estate is scarce.


And where else can you live in such a great place, like Honolulu real estate? Hawaii, despite being the 50th state of the United States, has the feeling of being a foreign country, with the exotic customs, ethnic groups, and of course the fantastic weather year-round.

Wild Foreclosures

Finding foreclosures is easy to do-- the cheap real estate I got there, I bought it for you.... You too could be singing a song if you get one of these great deals for foreclosures that I have linked to, all over the United States. The mortgages you get may be more restrictive than the wild days. After all, with the market in a tizzy and the MBS (Mortgage Backed Securities) a bit frozen up, some problems are expected. But, who knows? You may need a re-financing of your existing "wild days" mortgages anyway.

If you can't get the necessary documentation together for your mortgage, the other alternative obviously is apartments for rent, from simple places to live to luxury condos, duplexes and the whole fantasy trip. If you're lazy like me, you can enjoy your beautiful new home. But, if you are one of these 60 hour a week guys, maybe just find a cubicle to sleep in. Whatever, turns you on.

Real Estate Round the World

It is nice to think about owning real estate around the world. Real estate can be a nice investment if it is not overpriced. With the bubble popping that should be easy to get a hold of. You can get vacation rentals in places like Cabo Saint Lucas. Which can be a lot cheaper than renting rooms in an ultra-expensive hotel.

Florida vacation homes can be anything from sumptious villas to a little condo near the beach. Yes, there is a real estate crisis and an economic crisis, but hopefully life will go on, and working 60 hour weeks in the financial district can really bash you up. So why not try one of these vacation opportunities? If you want, you can take your laptop computer with you, most of these places have internet connections, or even wireless, and you can be out in the sun. Like a fantasy picture I saw, you could be the guy laying down in his swimming trunks and blogging for bucks.

New York Talking Heads Losing It

Looking at the NY Times complain about home prices declining is such a joke. Let's look at the ridiculous arguments, and the "Crimes of the Times". First of all, the financial system is coming down soon, or else they will hyperinflate out, and the whole price structure will deteriorate rapidly. But let's take a looksie:

Drop Foreseen in Median Price of U.S. Homes (What not enough people enslaved and suffering?)

Economists say the decline, which could be foreshadowed in a widely followed government price index to be released this week, will probably be modest — from 1 percent to 2 percent — but could continue in 2008 and 2009. Rather than being limited to the once-booming Northeast and California, price declines are also occurring in cities like Chicago, Minneapolis and Houston, where the increases of the last decade were modest by comparison.
(That means they are urging the Fed Res to hyperinflate as soon as possible).

If you want the rest of the drivel, it is here at: Really Long Link

Crash Baby Crash- Beyond Real Estate

I know you don't want to read about the financial crash. Tough! With Citibank, Bank of America, J P Morgan Chase and Wachovia getting "helicopter drops" of money from the Federal Reserve, it's a little hard to ignore. But, for the doubting, here's a bit more evidence, from the latest Fortune Magazine.

It seems the Federal Reserve made another desperate lunge forward this week, sending letters to both Bank of America and Citigroup on Aug. 20 allowing them to "blow through" the legal limits on how much they are allowed to lend to their own brokerage firms, it was revealed today by Fortune. Fortune comments: "This unusual move by the Fed shows that the largest Wall Street firms are continuing to have problems funding operations during the current market difficulties, according to banking industry skeptics. The Fed's move appears to support the view that even the biggest brokerages have been caught off guard by the credit crunch and don't have financing to deal with the resulting dislocation in the markets."

Fortune also notes that the other big banks have probably received the same exemption, which allows each to lend $25 billion to its brokerage (i.e., Citibank can lend $25 billion to Citigroup Global Markets, its brokerage), which is about 30% of their capital, as opposed to limits of 10% under the regulations.

This move is linked to the Fed's reduction of rates on their discount window last Friday. "This is just a technicality to allow us to use our regular channels of business with funds from the Fed's discount window," said Bob Stickler, spokesperson for Bank of America, to Fortune's Peter Eaves.

The Fed even claimed to be acting in the "public interest," because it allows Citibank to get liquidity to the brokerage in "the most rapid and cost-effective manner possible," they told Fortune.

Financial and Real Estate Crash on the Brain

A lot of people are getting hip to the fact that the system is finished. The real estate collapse has intensified to the point that the biggest real estate company, Countrywide, had to be bailed out to the tune of $11.5 billion. This has not totally escaped the population, as in the run on the Countrywide Bank, owned by the real estate giant, in California, and possibly other places. But, the word from the geezer is that unless we have a bankruptcy reorganization by October, the whole bloody international monetary system is coming down by October, for real.

However, to be clear, there are some other interesting blogging voices out there, that I am happy to link to. Here are some: dcfred, preciousmetalzone, aradicalwrites and a British political voice..

I hope this helps, together with impeaching and dumping W Bush's brainwasher, Dick Cheney. Have fun.

Republicans and Real Estate

In the face of the real estate collapse and so on, the Republicans are crascking up. Milt Romney, the so-called leading Repub. Candidate is a right-wing lunatic. Of course, John McCain is virtually washed up. What is even more interesting is the high dropout rate from the Republican leadership in Congress. Maybe they can't stand Dick Cheney any more, and are dropping out of politics. Of course with the collapse of the real estate bubble, the Republicans seem set to take the blame, with their wild rhetoric for "free enterprise" and cheering on the biggest bubble in history, including the real estate bubble. Ironically, the free enterprise gang is now demanding to be bailed out by the Fed Reserve and the Treasure, to the tune of the Fed Reserve buy up of hundreds of billions of MBS and ABS. (Mortgage Backed, Asset Backed Securities).

Eight-term Republican Congresswoman Deborah Pryce (R-OH) announced today in Columbus, that she will not seek re-election, citing family considerations. Pryce was the fourth-ranking Republican when the GOP controlled the House before the 2006 elections. She is the third House Republican to make such an announcement recently, as the GOP chances in the 2008 election move closer and closer to zero. The others are former Speaker Denny Hastert and Ray LaHood of Illinois.

Somewhere in New York City

After a day politicking in New York City, that was the strongest sentiment about the presidential candidates. Guiliani really stinks. Yes, but the debates have been so artificial. Now, the financial system has disintegrated. What are the candidates going to do about that?
As for Guili, let's see. There's his organized crime linked former Police Commish, Bernie Kerik. And then there's his former wife's (Ms. Hanover) involvement with the "Vagina Monologues". Sure the fundis will love that.

It was a beautiful day, if anything too sunny and a bit hot, but bearable. Frenzied tourists got on little bicycled operated people carriers, also known as (aka) rickshaws. Nearby, a man, wearing only shorts, who was at least 40 years old, was recovering from running, covered in sweat.

Some one stopped a passerby, "You Heard about Dick Cheney and the Queen of England? She wanted to use a condom, because she was protecting Dick", I guess from her royal diseases. Prince Phillip was not amused.

What's the big news? Lyndon LaRouche, the American gadfly, and (apparently) former Presidential Candidate warned that the global financial system would collapse and seize up, and now it is! Perhaps it is time to have the 9/11 Commission really ask Dick Cheney some questions too. Such as: 1) Do you know anything about the Queen of England? 2) About Saudi Prince Bandar? 3) About Ya-Mamah? In case you didn't know, Yamamah (dove in Arabic) refers to the 20 years and $200 billion dollar arms and covert ops funds generated by Saudi Arabia and the British Aerospace Company (BAE), which may be involved in every political and military op in the book, from 9/11 on down.

To top all this off, we now have (sing the song) U.S. Bridges falling down, My Fair Lady!! (there's more from where this came from).

Financial Foreclosure is a Bummer

Mortgage foreclosure is a scary process. Many people are not sure why there are so many foreclosures, but they have definitely accelerated. I guess people were getting loans without background checks and all that funny stuff. Anyway, try to get a good foreclosure resource.

You should find out the foreclosure laws in your state if you are in, or going into this type of situations. Sometimes you could be kicked out of your home in days, but often, with a little knowledge, you can create months to hold on and try to solve your situation, with some foreclosure information.

You should get as much help as you need. Find out if you can get free foreclosure help, or at least cheap foreclosure help. If you are in this situation already, you don't need to have any more bills to pay. With the ongoing problems in the financial system, a lot bigger players are biting the dust than you, but of course if you lose your home, that is little consolation.

The Republicans Don't Even care about the Falling Bridges

With some of the neo-cons letting it all hang out, will the Republican Candidates for Pres. like McCain, Romney and Guiliani tell you to jump off a bridge? Like the Minneapolis bridge that fell apart? It seems that despite protests of "caring" about this, if we go back to these people's ideological controllers, such as the Fox TV, Rupert Murdoch crowd, they just don't give a damn. Our infrastructure is collapsing faster than the real estate market.

Appearing on the Fox News Sunday program, Neo-conservative Bill Kristol said "we're spending an awful lot of money" already, "mostly state money, not federal. That's the tradition in America and it should probably stay that way. You know, I don't think this symbolizes any great failure of our infrastructure. Once every twenty-five years, some bridge falls down unexpectedly due to engineering problems, and it is unfortunate, obviously. But the idea that the whole country is crumbling is not, I think, credible."

You see the callousness, the total shamelessness of it! It's amazing that the whole Republican crew is not tarred and feathered.

Dead Hedge Funds Don't Take Care of Themselves

How do you tell a naked hedge fund on a swim? When the tide rushes out. Or when the money dries up. While most of the press internationally is in full cover-up mode, the near collapse of the German "industrial credit bank" IKB has shocked some in Germany into recognizing the situation (see accompanying article). Jochen Sanio, head of the German banking regulatory agency Bafin, admitted, minutes before the IKB crisis was declared to be out of control, that this amounted to the "worst banking crisis in Germany since 1931." According to the Sueddeutsche Zeitung, the "whole German banking system" was in danger, which was obviously the reason for a temporary rescue action for the IKB by the German government and the State Credit Bank for Reconstruction, at the tune of 8.1 billion euro (over $11 billion).

But this is only the tip of the iceberg; more U.S. mortgage bankers, such as American Home Mortgage, are in serious distress. One reason for that lies in the practice of so-called "adjustable mortgages," a procedure whereby the buyers can acquire real estate, which is more expensive than their ability to pay, and in which, for a certain period of time rather low interest rates on the mortgages fall due, but then, after a prescribed period, at most two years, are automatically raised. If the higher rate goes into effect, the payments rise in the range of hundred of dollars (per month). This subprime mortgage market went into full swing in the spring of 2005, therefore an avalanche of increases in the rates has been unleashed precisely at the present time.

All in all, increases in the interest rates on adjustable rate mortgages affect 12 percent of all mortgages in the United States, raising mortgage payments by a trillion dollars, on at least 12 percent of all mortgages in the United States. In October alone mortgages will be jacked up by over 50 billion, at which point the bloodbath, which has already occurred in the subprime mortgage market, will be a proverbial picnic, and eventually all categories of mortgages will be threatened to be affected. According to Moody’s Economy.com, between 1995 and 2005 about 3.2 million householders bought houses on the basis of the secondary mortgages or similar credit-terms, and thus it is expected that about two million of these houses will be lost in the next months--as long as you consider only the situation in the housing market itself. The flood of housing sales has led to a dramatic collapse in real estate prices; because of the exposed position of the financial institutions, it will become considerably harder to get new mortgages, and the effect on the real economy, including jobs in the construction sector, will be catastrophic.

Much more dramatic than this situation itself is the fact that this collapse has been accelerated by another process with very much more far-reaching consequences, namely the drying-up of the paradise of cheap credit as a result of the end of the Japanese yen-carry-trade. With it dried up the wonderful source of liquidity, which permitted investors for years to borrow advantageously in yen at a zero interest rate, in order to invest in higher interest rate sectors around the world. The flood of liquidity from this source amounted to 500 trillion dollar, which has been as good as cut off. In the face of rising interest rates, now speculators who have contracted cheap yen-credit and were met with losses in the American mortgage market and in the hedge funds, have sought desperately to turn their investments into cash in order to pay back their yen-loans, which has led to an up-valuation of the yen. Again this raises the losses of the speculators. The reverse leverage leading to the collapse of the speculative pyramid is in full swing.

Europeans Fear Global Financial Crash

The fear has hit europe in the crash and rolling crash of Mortgages and more important, of mortgage backed securities. This could be the big crash.

For example, Handelsblatt, Germany's leading business daily, noted that because a standard mortgage firm defaulted now, not a firm of the sub-prime scene, a spill-over to the rest of the market is feared, and "a profound economic crisis in the USA could result from that." The same article quotes a German market analyst as saying "the financial markets fear that unlike the crisis of the hedge fund LTCM, this time it is not one big bomb that causes damage, but that behind every door, there is a hand grenade (ready to go off)."

Also, Liberation, one of France's leading news dailies, pointed out that the American Home Mortgage case signals what the IKB collapse in Germany already indicated, namely that the crisis has turned systemic. And since one third of jobs created in the USA since 2001 hang on the real estate market, the crisis will hit badly in the States, but not only there, due to this globalized, highly-interconnected world.

Berlingske Tidende, a leading Danish news daily, added some sarcastic notes to its report on the American Home Mortgage disaster, saying that the "fin-spins," the financial market spin-doctors, still create the impression that nobody here on Earth has to worry, as if the losses will be taken by someone from outer space, in case of a crash.

A crisis symptom of the first degree in Europe was furthermore, that the Governor of the European Central Bank, Jean-Claude Trichet, broke the taboo that no press briefings be held in the holiday month of August, when he went to the press yesterday, trying to deliver the message that "calm blood" allegedly was appropriate in this crisis, that things were under control.

A Typical Wall St High Flyer

People on Wall St., and even in the companies that service them don't want to face that the bubble is (nearly) over. Take Beatrice, a successful woman who runs a temp services company:

When I had Howard write a sketch autobiography for me, I didn't know what to expect. It was for an article for the newsletter of AARP, of anecdotes about interesting and usually successful people. For him it wasn't a particularly high paying job, and about 1000 words long.
I have to admit, I have been quite successful. Not too many girls go from being a single mother, in the slums of Brooklyn, to owning and operating a multi-million dollar a year Secretarial and Office Skills Agency in Downtown Manhattan. And look at my huge apartment today. I have a ballroom fit for a queen, and who would imagine that I can dance like I do. I could see the incredulity on Howard's face when my dance instructor came over and he and I proceeded to dance. Oh yes, I love Mozart and Beethoven, and Strauss Waltzes, but what I can really sink my teeth into is a good tango. If I would have remembered to buy a rose, I could have literally ended with it clinched between my teeth, as I did the last dance dip.
Howard is not a bad operative, but I really don't understand him at all. When he starts babbling about politics or related stuff, I could just slap him.
Anyway, it was nice to meet him at one of my little luncheons for my friends and employees. Lunches with my workers are highly amusing. And, by keeping on friendly terms with the employees, more of the good ones can remain on my payroll.
I know that my business is beginning to run down, and I have to take some measures to rev it up again, but by September, when I hire a new salesperson, things should start moving, and the fun has just begun!!!

Does Hillary Clinton Got What it Takes?

We have to find someone with guts to stop the fall into the Malstrom. With the real estate and leveraged buyout markets on the knife edge, we may be running out of time.I had a conversation with an old woman, of at least 80-years old, about whether it was worthwhile to continue to be political. She complained that no one actually cared what the Bush administration did, that she DID care to a large extent, but there was really nothing you could do about it. That was why, what my friends were talking about was a totally ridiculous idea, and why bother to do anything about the situation, why bother to invest any money in it. She explained that she was a poor person, and that no one care what she said or thought.
I thought this was slightly ironic in that Estelle, a widow, lived a rather comfortable existence in a quiet haven of luxury amid the urban jungle. She in her usual resentful and humorous way would refer to the same as, "a dump in Riverdale (Bronx, NY)".
That may be the case, yet I personally would stick with the first description. I answered her that at the time of the U.S. Constitution, that might have seemed to be a somewhat ridiculous document. But, Estelle asked, "it talks about life, liberty and the pursuit of happiness. What hapiness is it to me whether anything changes with these bums in Washington". On the other hand, " I could try to change something, and see if it actually made me happy. If it does, perhaps I'll like it, and try to do it again..."
Now we have to get Hillary Clinton to think that way about demanding the impeachment or ouster of Dick Cheney, Bush's controller, now.

Forget about Global Warming, It's a Financial Frost

Yes, folks, the financial frost has hit. Reading the financial press, it is obviously something big going on. Chrysler buyout has frozen up. Alliance Boots is scoffed in the UK. Schweppes has been schwiped. Remember some of the big guys like to have a big crash every 20 years or so. True we have had some mega crashes already, like the fall of the Y2K bubble, but something much bigger seems in the air.

Unlike the idiocy in the Yahoo Finance, or the evening news, different financial events ARE actually connected. And that is not a conspiracy theory, it is just the way life is.

First, the housing market, especially in places like Florida and San Francisco, Cal. went kerplunk, as much as one-third down. Then the mortgages that were sold bundled together as MBS (Mortgage Backed Securities) went down, starting with the subprime stuff. Then the hedge funds, like those of Bear Stearns collapsed, that were heavily invested in the MBS, collapsed to nothing. Then the CDO (Collateralized Debt Obligations) began to collapse, since these are, apparently, a form of insurance for some of the other stuff. And now, da da, the same banks financing the hedge funds are running out of money and credit for the bit LBO deals (Leveraged Buyout. What a small world.

Virtual Offices- What's It All About?

Are you starting your own business and need to save cash? Do you want to avoid committing yourself to large rental and start-up expenses for an office? In Memphis, Tennessee?



By using Memphis Executive Suites, you can decide how much office space you need, and not be saddled with huge startup costs. But, what if you want to run your business from your home and through cyberspace? You can still have the advantage of having an official looking mailing address, and other services which project the image of a real office, including conference rooms to meet clients. Your Virtual Office can be run from the same places that maintain Executive Suite arrangements, so you can shift to a real-world office on short notice.



Your mail is received and picked up from an official looking downtown address. Your phone calls are answered by a receptionist, and upon your instructions either forwarded to you, or basic caller information is emailed or text-messaged to you. You have the option to rent a conference room, or the included option to use one several times a month when you need to meet clients. This has become very attractive to the new home-business and internet business wave. The Web 2.0 is now hitting the entrepreneurs of America.



The virtual company is the company with no office to commute to. These companies give new opportunities to entrepreneurs to get started. But a virtual business also gives you the opportunity to avoid wasting hours in commuting to work and have more time for personal use to be with your family. Internet and communication technology has leveled the playing field. Someone who doesn't have a lot of resources can create a Web site that looks professional. Retail businesses can be virtual-business, either working through eBay or Amazon.com, which handles inventory and shipping needs, and then pays you for fulfilled orders.



Some computer-related companies encouraged people to telecommute. Of course, many people working this way have realized that they could also just start their own business with a virtual office. You can have your phone calls screened by a receptionist. Alternatively, you can have calls answered, with notes about the call for follow-up emailed or text-messaged to your cell phone or blackberry. The benefit of working this way is flexibility, efficiency, and little overhead. Many days such entrepreneurs are involved with instant messaging, text-messaging and emails with clients. You can use Skype for free calls around the world through the Internet, PC to PC. For many younger people who have grown up in using chat rooms and blogging it is not weird to work with people you rarely see. For some people, virtual companies present a lifestyle where their work day is mixed with their personal and family life in a pleasant stream of consciousness. Learning to do this properly can be tricky. By working with an office center that can monitor your calls when you are not available for business makes this so much easier. The Executive Suite center also has rentable office space with full technology and administrative back-up, so you have the option to switch to an office-based business if your business starts to outgrow your living room. Alternatively, you can use conference rooms and possibly a desk cubicle if you want to maintain a minimal “on the ground presence”. Executive Suites are pretty cool.

More Executive Suite Links- How Sweet it Is!!

If you would like to read some of my articles on Executive Suites and virtual offices, the links are below:

1. Executive Suites and Easy Business Start-ups in Memphis
Executive Suites 1
Executive Link 2
Executive Link 3
Executive Link 4

2. Executive Suites Can Help Your Memphis Business
Memphis Executive 1
Memphis Executive 2

3, Your Changing Career in Memphis
Memphis Virtual Office 1
Memphis Virtual Office 2

Other links are: to real crash and to
real estate crash now and
green debate.

This may not be a very exciting post, but part of my job is to build links for various business. If you want me to build some links for your business, drop me an email or a comment.

At a Funeral...

My Uncle’s Funeral
By Howie Copywriter

I ended up going to the funeral of my uncle, John Doe. John actually is my aunt's second husband, and not the father of my three cousins. He seems to have been a nice guy, though my recollection of him is more as a phantom, then someone concrete. Oddly enough, I remember his son more (from his first marriage). That is probably because his son Steven was at the funeral and alive to remind me of him. Perhaps I saw Uncle John dancing at some parties, or smiling in a family photograph. Too bad, you don’t get to be at your own funeral, at least consciously.

The funeral was at a large cemetery in New Jersey, with a neo-classical domed building in the center, which vaguely reminded me of an airport lounge. You take off, but you don’t come back. This was the mausoleum, where families had a service for their departed loved ones, and then the departed was quickly put into one of the hundreds of compartments along the wall. To me it was a new practice. I'm used to having a big service in a funeral home and then making a long trek to a cemetery, where a 6-foot hole is dug and there is a sensuous feeling of digging the earth, and putting the body in the ground. We go from ashes to ashes and dust to dust. But in this place, after our service, another group of mourners could be ushered in under the dome to have another burial.

The service was brief, with the high point being the eulogy by John's son Steven. He told the story of John's early life. John had been born in Poland and after the initial attack on Poland during World War II, he and his mother and father ended up in Siberia someplace, like unwanted nomads. John was sent to an orphanage in the city of Tehran by his parents, who wanted to have him escape their desperate conditions. Later his father and mother also escaped to Tehran, in Iran. His father soon after died and it took years for his mother, Elsa, to find John in the orphanage, where he was under an assumed name. Later Elsa and her son John moved to America, where she found a job as a bookkeeper in a small business in New York City. Elsa and John were comfortable, except for the fact that her boss Stanley was very temperamental, always yelling at Elsa and giving her a hard time. Once, after a long day, Elsa asked Stanley, “Why do you yell at me, and make my life miserable”? “Because I love you”, was the answer. Soon after they married, and that is how John, who was adopted by his new father, got the last name Doe. When John was in the US Armed Forces in the early 1950s, he wasn’t even a citizen yet.

Later, John went on to become a legendary successful businessman and a leading player in the department store business. He and my aunt retired to a posh resort in Southern California. And yet, when my aunt came back East, with the body of her husband, there seems to be something missing. There were only about 35 mourners, small for such an illustrious businessman. This happens when you retire, people forget about you so fast.
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Crowd Pleasing Bronx Dominican Day Parade

Sunday July 22nd was the day of the Great Dominican Day Parade of the Bronx, which marched down the Grand Concourse from E 184th St down to E 166th St, in front of over 1 million spectators. There was live TV transmission on Bronx Net and Channel 74 NYC and other Spanish TV stations here and throughout the Americas.

Of the many loud and colorful parades, this is probably the loudest and wildest in New York. Young people waved Dominican flags and strained to cheer on and watch the different musical, commercial and political floats celebrating Dominican culture and the Dominican Republic. There were lots of people dancing in the street and in the buildings on the Grand Concourse waving flags out their windows, watching the parade. There were people out of all races and ages, but especially young people.

There used to be only a Dominican parade in Manhattan, but now, for the 18th year there is a regular parade in the Bronx. Due to heavy immigration since the 1970s and 1980s, the Bronx has become the borough with the largest Dominican population. Dominicans represent 26-percent of the Bronx Hispanic population, and are the second largest Hispanic group, over 200,000 people, after Puerto Ricans.

Stars out on the street included Bachata singer Andy Andy on the Daily News float, and other merengue performers including Joseíto Mateo, Los Toros Band, Mala Fe and José Peña. There were floats representing businesses and different political parties, which are very important due to the large number of Dominicans who cast votes in their homeland, who live here in New York. Floats included singers, orchestras and the Diablos Veganos (the Vegano Devils), people in carnival costumes. The beauty queens had their own float. Ms. Fransheila Ortega, from the Province of Moca, aged 15 was the Duartiana Queen. Cristabel Diaz, aged 17, of Santiago Province was the Queen of the Parade.

There was a dance troupe from Santiago, the second largest city in the Dominican Republic. Among the floats you could see were: Mega 97.9 FM, “El Vacilon de la Manana” (Teaser of the Morning) Program, El Aguila Restaurant, other floats with live meringue music and dancing girls, Well Care of New York, Inc., Cibao Meat Products, Coca Cola, Vitarroz, Miguel Vargas, P.R.D. politician, and Aristy Amable “Presidente de los Pobres” (Poor People’s President).

Adults and children were dressed up in costumes as devils and other mythical creatures, from the Carnival annually celebrated in the Dominican Republic. The Honorary Grand Marshall of the Parade was Michael Max Knobbe, ex-director of Bronx Net, the cable TV station. The directors of the parade were Felipe Febles and Rosa Ayala. Mr. Febles was the founder of the parade in 1989, after working on the Manhattan Dominican Parade. His organization has also created the Dominican Cultural House of the Bronx, and is involved in student scholarships and sports activities. They also participate in humanitarian activities in the Dominican Republic. For more information, please see, http://www.paradadominicanadelbronx.org/.
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Crash is Getting Ugly

The post-Hedge Fund collapse, of Bear Stearns, etc, some things like CDOs are hitting 41-cents on the dollar. Sounds like a good deal, but what if you paid the dollar, and now the thing is only worth 41 cents!!! This is why the "hesitation" is hitting the leverage buyout deals like those of Cerebrus and so on. It's the thick ketchup that is getting really "slow good".

The London Financial Times reports (July 24 2007) that the basic index of European corporations' high-yield bonds (i.e., "junk bonds," now a very large fraction of the total corporate bond market) has deteriorated by 100 points in a week, and is now close to its level when both Ford Motor and GM were downgraded to junk in May 2005. That $300 billion worth of collapsing debt caused a deep shock throughout corporate debt markets at that time; but now the debt deterioration is much more widespread, the Financial Times reported.

The index measures the cost of insuring a 10 million euro bond against default; it has leaped up from 250,000 to 350,000 euro in the past week. If it goes over 400,000, credit market experts fear a sudden slide to 500,000 and a "domino effect via forced unwinding" where everybody wants to sell their junk bonds at once. This is why so many corporate takeovers which were "done deals" have been postponed or are coming undone in the financing stages, including some of the largest takeovers by KKR, Blackstone, Cerberus, etc.

The other key index, which tracks the value of high-interest Collaterized Debt Obligations (CDOs) or mixed bonds based on mortgage loans, is falling even further. It has reached a level of 41 cents on the dollar of face value of the debt, from 97 cents only six months ago.

Fun in the Bronx- Car Free Sundays on the Concourse

With lots of fun events in the Bronx, maybe they can get the real estate boom going there too.

Bronx Borough President Adolfo Carrion Jr., is sponsoring Car-free Sundays on the Grand Concourse. The first Car-free Sunday was enjoyed by children and their parents on July 15th, and will happen again Aug 12, September 16th, and tentatively October 7th, from 12 pm to 4 pm, between 170th Street & Mt. Eden Avenue (rain or shine), with free admission. Then on October 21st will be the Tour de Bronx bicycle ride, the city’s largest free bike marathon.

A Play Mobile was out on the Concourse play area, brought there by the City of NY Parks and Recreation Dep’t. One of the NY Parks officials there, Ms. Rosemarie Madrid, described some of the activities for kids on these Sundays on the Concourse. She showed me the kids playing on a sort of hopscotch board that was electronically connected to a video screen that kept track if they won or lost the game. About 50-75 children were out, many with their parents, from ages 2 to 15. Some of the older children were playing chess and checkers. There was a Baggo Bag Toss Game and Knock-Hockey out to play with too. Power walks are scheduled to be led by Health People, Inc. in the future. There is also going to be dance workshops instructed by Contemporary Ballet Theatre, and roller skating and other kids’ activities, and free health screenings.

The Transportation Alternatives Organization was out this Sunday as well. Trans-Alt promotes the use of bicycles for transportation and is also sponsoring the NYC Century Bike Tour. They are a non-profit organization, with their website, www.transalt.org . I spoke with a staff member, a young man named Wiley Norvell, the Volunteer Coordinator for the Transportation Alternatives Organization, who was happy to be outside. He was concerned that these car-free Sundays have not been happening since the late 1990s and that there are not enough parks in the neighborhood. As we spoke, he was fixing kids bicycles and pumping up their tires. For more information, see www.ilovethebronx.com or call (718)590-3989.
.
Then there is an upcoming event, the 2007 Tour de Bronx, New York's Largest Free Cycling Event. It’s the 13th Annual Free Event Sponsored by Transportation Alternatives and The Bronx Borough President, Sunday, October 21st, starting in the morning, with a rain date of October 28th. This year the 25-mile route will take riders onto the Sheridan Expressway, which will be closed for the Tour de Bronx. And the Tour De Bronx is free, with lunch & power snacks provided by TransAlt. There will also be a Tour de Bronx Festival & Jazz Concert. To register over the phone or for more info, call Rich Gans at 718-792-2138 or register online at www.TourdeBronx.org . There will be feeder routes coming from Riverdale and from the Botanical Gardens, meeting at the Bronx County building, at 161st and Grand Concourse. Riders can choose from the fast pace 40-mile route, or the more leisurely paced 25-mile route. Free helmets will be given out to the first 150 kids (13 and under) to check in at the registration sites.
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Real Estate Collapse--- From the Bronx on Down: My Links to the Latest Hot CopyWriting

Real Estate Collapse--- From the Bronx on Down: My Links to the Latest Hot CopyWriting

Subway Days and Nights in New York

Subways- Days and Nights
By Howard Giske

“Will you move over”, you could saaaay excuse me” she said in a vaguely threatening tone. I felt a large hand squeeze on top of mine. The heat and sweat from the mitt oozed onto the back of my hand, in the midst of the crowd, only lessened by the blast of air from the icy refrigerator overhead. It’s just a big 30ish guy grabbing the riding pole.

It makes me wish that I had become a big- CEO and had a chauffeur drive me everywhere. Other days, after rush hour, riding the subway is like sitting in someone’s living room, or a train dining car, with lots to see and listen to. After rush hour, a group of four young men and a young woman get on. They all seemed to be Puerto Rican in appearance, speaking English with a New York accent. The men had short hair, and all were well groomed. The woman was dressed in a creamy white blouse and well-fitting dark pants. As the group bantered about their daily activities, it was the loose sort of loud conversation of men bragging about their exploits, slightly restrained by the knowing eyes of the woman. Several of the men had razor short crew-cuts that made me think they were in business or in the military. Being in the subway isn’t so bad, it can be an experience to see people relaxing and talking.

Then, one day, I entered the subway from downtown at 4am. An odor of garbage or of putrefying fish hit me. She was wrapped up in a heavy brown coat, although it was the late spring. Yellow brownish streaks in the front of her coat seemed to be an advertising sign for adversity. She was about 70 years old or more and she was trying to get some sleep. Her companion, quite possibly her daughter, seemed OK from the waist up, but I saw the lobster claws sticking out from the cheap torn rubber sandals. You had a sense that the pair’s destination was none other than eternity.

I moved to the other end of the car and saw some rather dirty young men. They gyrated in their seats from an unknown beat, vaguely dancing. Small white seashells in their ears with silver threads took them on a voyage to an unknown country.

I closed my eyes, drinking in the steady beat of the rolling train, the low thunder exploding every instant. I drifted off for some time, then, thought I smelled something. I looked down and saw a small river slowly rolling underneath, carving out small bits of new territory to its wet empire.

I looked over in the corner at a young man, holding his head between his knees. The white youth had reddish unruly hair, and wore a green tee shirt, with the emblem of an unknown rock band. As he took another spasm that rolled through his chest and to his throat, he heaved more sour juice on the floor, creating a pooling river bed. Directly across from me, a 40-ish man in a business jacket gave me a knowing look and a smirk, which I answered in kind. What can you expect at 4am on a Saturday night?
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Bear Stearns is Beat

July 18, 2007 New York Post, etc. --In a still-breaking development, Bear Stearns bank notified investors late on July 17 that the assets in its two leveraged hedge funds, nominally worth about $9 billion a month ago, are effectively worthless, shocking the dollar into a renewed fall and threatening the wipeout of hundreds of billions of dollars worth of mortgage-based securities (MBS) and derivatives like those held by these two hedge funds. The dollar fell to historic lows of $2.05 against the British pound, $1.39 to the euro, and a still-more rapid chaotic fall might be triggered after Fed Chairman Ben Bernanke's Congressional testimony today and tomorrow. "Its almost as if there's some risk aversion developing against the dollar," a Bank of America executive warned to Reuters news service.

The Bear Stearns announcement means that what was considered very bad news for international credit markets three weeks ago--that MBS and related derivatives which the Bear Stearns funds creditors were trying to sell, were worth only 30-50 cents on the dollar--would have to be considered the "good old days" as of now. Bear Stearns said that "during June, the funds experienced significant declines in the value of their assets, resulting in losses of net asset value"; that there is "effectively no value left" in the so-called Enhanced Fund, and "very little value left" in the so-called High Grade fund which it tried to bail out with $1.5 billion of its own capital in late June.

Bear Stearns called this a difficult development for investors, in a whopper of an understatement which could quickly start applying not just to its investors, but to investors in the entire several trillion-dollar mortgage-based CDO market, and then the $6 trillion market in MBS based on U.S. residential mortgages. The loss of value implicitly applies to any of the securities in those markets which hedge funds, banks, or other holders try to sell--or even without trying such sales. The threatened losses on credit markets are in the hundreds of billions.

The New York Post on July 18 cited three hedge fund managers reporting that in the last week, large investment banks like Lehman Brothers, Merrill Lynch and Bear Stearns have ended the "leverage party" for MBS investments, whereby hedge funds borrowed up to 15:1 of the capital they used to buy MBS. Leverage is down to 5:1, at maximum. A partner of an $850 million mortgage arbitrage fund said he received a "margin call" or "repo" demand for almost $50 million of additional collateral within 48 hours from Lehman and Bear Stearns early last week. The result: forced sales of other assets, and more losses.

Real Estate Woes this July

Bloomberg.com (July 12th)reported a statement today by RealtyTrac (which sells foreclosure data), that mortgage foreclosures rose 87% in June, over the number for June 2006, and that foreclosures for the first half of 2007 are 56% higher than the figures for that period in 2006. Total numbers of disclosures were highest in California, Florida, Ohio, and Michigan.

In terms of rate of foreclosures, Nevada had the highest in June, with one filing for every 175 households, four times the national average of one for every 704 households. Following Nevada were California (1 per 315), Colorado (1 per 317), Florida (1 per 347), Arizona (1 per 383), Ohio (1 per 403), and Michigan (1 per 420). RealtyTrac further reports that 58% of properties that are in the disclosure process are linked to borrowers with sub-prime loans, and that they expect U.S. foreclosures to reach 1.8 million by the end of the year.

Meanwhile, Bloomberg reports, the National Association of Realtors said that the supply of unsold homes hit a record 4.43 million in May. In a press release yesterday, the NAR said that home prices will drop by 1.4% this year, and housing starts will drop in 2008 due to higher mortgage rates and a glut of properties available. NAR also projected 865,000 new-home sales this year and 878,000 in 2008, compared to 1.05 million in 2006.

Let's Talk About Real Estate

I wish I could get some better adsense ads for real estate. Anyone know how? Yes the Florida condo market is collapsing, but that doesn't mean we can't continue to sell a couple of them just for fun. And the real estate on the Jersey Shore is not going to be wiped out by a tsunami, when the Greenland Ice overland, slides into the water like an overflowing North Atlantic Martini. So, buy some. Yes the prices are inflated but who cares. Buy a Florida condo now!!!

With the Alaska Bering Strait tunnel coming soon, to Siberia, the real estate in Alaska itself is bound to get a lot more expensive fast. So cheer up, and get me some nice real estate adsense ads.

Get My Links Up to Technorati and my Blogs

It seems difficult to get up all my links. Why do I want all these links to all my other blogs? Because the real estate crash is continuing and as many people as possible need to know about it.

Real Estate and Global Warming

The Russian Dep Foreign minister commented that there might be a lot more damage to real estate and everything else, if people continuing to go cock-eyed about global warming- to the UN ECOSOS in Geneva.

July 12th, Interfax- "A new global agreement on joint action may be drafted under the United Nations' aegis before the end of 2009 with the participation of not only developed countries but also key emitters of greenhouse gases in developing states."

"...We believe that there is no reason to submit to panic and to apocalyptic scenarios of the effects of climate change. We see such changes in a long-term context that rules out emergency measures and tight restrictions on emissions of greenhouse gases that would run against the interests of economic growth and development," Yakovenko said.

"The shaping of responsible long-term approaches to climate change should not amount to hasty selective actions that may ultimately inflict much greater damage on the economy and environment than the national cataclysms that are forecast."

So the Greenland ice field is not going to slide off next year, and make a Giant Northern Atlantic Martini, drowning all the condos in Florida?

You Want Me to Pay Taxes? Get Out of Here!

The billionares on the hedge fund and private equity circuit are outraged. Are they going actually have to pay 35% taxes, as income taxes, or will they continue to get away with murder. By the way, the REITs Real Estate investment trusts, should also be taxed as income. Here some junk from the NY Times

Henry R. Kravis, the billionaire founder of the corporate buyout movement, has been involved in hectic lobbying on Capitol Hill, hoping to kill legislation that would raise his taxes and those of other investment fund executives.

The buyout titan met two weeks ago with Representative Sander M. Levin - a senior Democrat who is proposing to more than double the amount of tax that the industry now pays - and mustered his best arguments. Kravis said that firms like Kohlberg Kravis Roberts play a central role in the US economy, citing the example of how his firm had produced many jobs in Levin’s home state when it turned around a troubled electricity company in Michigan. He asserted that an increase in tax rates would harm American competitiveness abroad.

In recent weeks, lawmakers have had visits from industry leaders including Blackstone chief Stephen A. Schwartzman and David M. Rubenstein, a senior executive and co-founder of the Carlyle Group.

Real Estate Prospects in Siberia and Alaska

If the deal that President Putin offers is taken, it could mean a lot more than "peace in our time". It could mean the development of Alaska and Siberia around rail projects linking the hinterlands of Russia and Alaska, through the Bering Straits tunnel. Then we could have a real estate bubble in a good sense, in creating towns and mines and development prospects out of nowhere, with infrastructure development.
Of course, that may not save your real estate investments in Coastal Florida, or the Carbon futures market around the so-called man-made greenhouse effect.

The invitation to President Putin for the meeting in Kennebunkport was offered
already on April 25, when former U.S. Presidents Bush Sr. and Clinton participated in Moscow at the funeral of Boris Yeltsin, and in this context conducted intense discussions with Putin.

Exactly in this timeframe there also occurred the dialogue between Lyndon LaRouche and leading Russian scientists on the realization of the Bering Strait Tunnel as a conscious war avoidance strategy. The conference on this great project, that forsees, a nearly 100 km long tunnel under the sea, as well as 6000 km long rail connection between Siberia and Alaska, occurred on April 24, and at the same time, Putin led intensive discussions on it in his cabinet. Several days later, on April
27, Putin called for the creation of a new "strategic working
group" with the title: "USA-Russia, a Look into the Future,"
whose members included, among others, Henry Kissinger and
ex-Prime Minister Yevgeni Primakov.

The Real Estate of Greenland Not Opening Up

There seems to have been a report from the Global Warming folks, that in about 20-50 years, the Southern Greenland Ice Mountain was going to slide off into the sea. It doesn't seem that this is going to happen, by latest reports. So all that Southern Greenland real estate will not open up. And there will not be a flood of 20-feet hitting all the coastal real estate, at least not in Florida.

A Greenland Martini on ice, wouldn't it be nice. That is when the whole Southern Greenland ice mountain sloshes off into the sea and causes sea levels to go up 20 feet. What a nightmarish, fantastic vision. Except, it's not happening. Bopping Greenies, before you go off to your Green Genocide Baby! concert, read this.

One other correction. The Global Warming thesis is not the brainchild of Al Gore, anymore than the Internet was. He is just the poster boy and a leading hedge fund, carbon money crunching operative. Global Warming is the re-implementation by the Anglo-Dutch oligarchy of the genocidal Nazi race science of Hitler, Goering, Goebbels, et al, and their friends like New York's Averell Harriman of the Museum of (Un) Natural History, which had the 1934 Conference on Racial Eugenics. It is a series of excuses and ever-changing directives to starve to death and otherwise eliminate 5 billion people, while impoverishing 90-percent of the populations of the advanced sector, Europe, N. America, Australia, etc.

Actually, this post has gone so long, that I will post the evidence of "No Greenland Martini" on the next post.

There are some Good Blogs- even on Economics

I got turned on by www.angrybear.blogspot.com . It seemed a refreshing blog. Not my stuff, but still stuff I could respond to. With the real estate bubble poppoing , and Bear Stearns having their hedge funds crash, it's like, apres moi, le deluge? You know what I mean? Like, were the real men in Black the BAE (British Aerospace )guys? I mean $2 billion in bribes to prince Banda-thieves of Saudi fame is bad enough, but a $200 billion slush fund?

Has anyone out in Blog land wondered, if somehow this "Free enterprise, globalization deal" got out of control, could anyone actually "buy" the planet?

After all, with $200-billion in cash with the "Men in Black", over 20 years if they have inside deals with people in New York, Chicago and London, they could multiply that many times over. If some governments like Iran, or Russia or China don't want to kowtow to the cash, why not just nuke em.

If nationalistic Americans don't want to do it, why not have a nice little 9-11 mega-terr disaster? Then they will get along and go along. Think about it.

Can't Bear it No More-- Hotel Reservations?

Yes, it is going to be a mess. The real estate collapse in the subprime market has now hit the hedge funds. Bear Stearns hedge fund will hit everything, and the collapse will get ugly, when the CDOs (Collateralized Debt Obligations) blow. Which may mean it is time to go on a good vacations.

What would make a vacation more beautiful than Hotel Discounts? Not much I guess. This website I was looking at, hotelreservations.com, it really has a nice organization. You hit the little ads on the side bars, and they look like the usual google adsense nonsense, but they take to a more specified part of the site. Say, after you look at the opening page hoopla for a while, next you look at what you like. In my case that was bed and breakfasts. Low and behold you hit the button, and you get a list of cities in which to get reservations for a bed and breakfast. Would you like to go to a bed-n-breakfast in Anaheim, California, you got it! Or how about Belmar, NJ, on the Jersey shore, which is actually more appealing. It is only $129. One room for two (consenting) adults, per night, not bad.

And then the site has these little sidebars answering all your little questions. Like what is the "special internet rate"? Well, the answer is that it is the rate that saves you a lot of money. Then they have a question, "What do the stars mean"? That's very important, because I knew that five stars was the best, but then I thought that one star was "chookah". But, no, not at all. One star means a smaller, often more personable hotel, which may not be a Las Vegas style showplace, but could be a perfectly good place to stay.

Also, you have to see the site for yourself, but they do promise Hotel Discounts. They also have condo rentals, if you want to go on a nice long vacation. And you will definitely have to check out the Hotel Reservations "Club"... sounds neat. Discount club membership. In case you are on the Bear Stearns hedge fund management, and you have a sudden need to travel....like around the world!

Time of the Financial Vultures

It's the time of the vultures.... when the blood runs hot. The hedge fund Bushies have no culture, and they don't care if you rot....The Carlyle group.... Chiseling the Seniors....Tell you why- they really need the cash! It's the time of the season for scandal....!

And of course there are Bush family connections...These vultures and creeps have no business taking over Manor Health, to chisel senior citizens. Acording to the financial press of July 3rd, Manor which has more than 500 nursing homes and rehabilitation centers, assisted living facilities, outpatient rehabilitation clinics and hospice and home care agencies announced that it has accepted the Carlyle take over bid.

It seems that the continued existence of Manor's clients is an obstacle, because part of the prime buy-out booty is the owned real estate that the nursing homes sit on. The Carlyle group is literally borrowing against the property to steal the company and the loot.

Fortune online, describes it as an all cash transaction valued at about 6.3 billion. According to Fortune, the acquisition will be financed through a combination of commercial mortgage-backed securities, other debt financing and equity provided by Carlyle. Manor's financial advisor is JP Morgan.

According to the Wall Street Journal account, the latest in a series of nursing-home transactions, was driven by its attractive real estate portfolio; since Manor owns, rather than leases most of its 500 facilities in 30 states, clearly indicating Manor's prime looting potential. The deal, the Journal reports, involves borrowing against the property to finance the buyout. The Journal reports that another aspect that makes Manor an "attractive" acquisition is that about 73% of its revenue comes from "higher-paying Medicare and private-pay patients, compared with as little as 53% at some competitors". See June 29th article "BAE, Baroness Symons In Black Operations Against LaRouche" on the LaRouche Pac website for the Bush Family Carlyle Group connections to the unfolding BAE scandal.

I signed up for Pay for Post

I signed up for pay for post, and I think it was a good move. Anytime you promote anything, or talk about any real estate deal, you are helping somebody. There are so many products to talk about in our modern world, and you can make money blogging while you do it. So that is generally a good deal. I may have to get a not blogger blog soon, since many of their advertisers do not accept blogger blogs. It is certainly something to think about. I don't think they have many real estate advertisers, but there are alot of movies and that kind of stuff. I'll try it for a while and let my real estate crash now friends find out how it goes. so why not make money blogging? That's at make money blogging

I am posting this link, but why?

55%How Addicted to Blogging Are You?

Mingle² - Online Dating

Was i brainwashed to post this link. I don,t know.

Indianapolis Indiana Under the Hedge Fund Gun

Hedge funds and equity funds have been seizing large parts of the real estate bubble. Cereberus Fund bought GMAC, the real estate arm of General Motors. Now the Carlyle Group has financial grabbed the Indianapolis based transmission company of General Motors, known as Allison Transmissions.

June 28, 2007 (LPAC)--Carlyle Group, -- the private equity group closely linked to British BAE Systems, which is in the middle of the "scandal of the century" and multiple U.S. and foreign investigations,-- has announced a takeover of a division of General Motors. Both BAE Systems and the Swedish Bofors Defence Group which BAE bought from Carlyle, are accused of bribing government officials on a large scale all over the world, to get big defense contracts, and building up slush funds for political use, through these contracts.

On the same day Carlyle announced the planned takeover of GM's Allison Transmissions division for $5.6 billion, Carlyle had to cut back a scheduled IPO of a bond investment fund, because of increasing liquidity problems on the speculative junk-bond markets on which Carlyle plays. Many financial analysts are now fearfully forecasting the failure of some large private-equity "leveraged takeover," bringing on a general junk-market collapse--and Carlyle's GM takeover could well be the one to fall apart.

Carlyle Group in 2005 sold BAE Systems a large chunk of its U.S.-based military contracting corporate group, until then known as United Defense Industries. It also sold Bofors to BAE that year. BAE is now trying to add to that, Armor Holdings, the firm which makes armor for U.S. Armed Forces' Humvees.

For the U.S. auto industry, the takeover, if it goes through, will mean seven more technologically productive and well-tooled plants, and 4,000 employees--all in the Indianapolis, Indiana area--going under the control of speculative private-equity funds and hedge funds, along with Chrysler Corp., GMAC, Delphi Corp., and scores of smaller firms. Allison Transmission also has 1,500 distributors and dealers in 80 countries.

Carlyle has a junior partner in the planned takeover, the Canada-based private-equity group Onex Corp.

Freeze hits Mortgage Backed Securities (MBS)

Traders in the crisis-hit mortgage-backed securities
(MBS) market have begun reporting a freeze-up, a near halt in all generation
of the securities known as collateralized debt obligations (CDOs), a week
after the two collapse of two big Bear Stearns hedge funds trading in CDOs. So, the attempt to isolate the collapse in real estate prices has failed, so it seems.

This can start to have a big effect on the MBS market as well. With
paper creation in this $2.6 trillion market having sunk to a couple of
billion dollars last week, the vice-chairman of Loomis Sayles in Boston
warned, "If investors start dumping them, oh, boy, watch out for some
massive credit widening," using market slang for a sharp interest in
interest rates, a credit crunch in the market. Interest rate premiums
on CDOs jumped 1.5% last week.

The specter of this disintegration of markets based on mortgage
securities threatening the whole financial system, raised its head in a
Congressional hearing June 26. Rep. Carolyn Maloney (D-NY), waving that morning's
{Wall Street Journal}, asked SEC Chairman Christopher Cox if he agreed that
CDOs and related securities are risky, dangerous to the financial system,
opaque in value, and should be regulated? With journalists and aides suddenly
taking furious notes, Cox said he lacked the authority because these
securities are not registered under the 1933 Securities and Exchange
Act; but that if Congress changed that, "Absolutely," they should be
regulated due to that risk. And he announced that the SEC has opened an
investigation of the Bear Stearns hedge funds and 12 other cases that relate
generally to sub-prime.

You give Cash a bad name

I guess I'm shot in the heart, baby you're to blame. You give cash a bad name. As the financial system and the real estate bubble crash more and more.

1998 was a turning point in the economy, with the Russian bond collapse and the collapse and bailout of the LTCM hedge fund. It was also the beginning of inflation in oil prices and commodities. Look at the wave of inflation and collpase since 1998- the year of VP Gore's move to bomb Iraq and the Sudan.
In fact, the dollar can be said to have already collapsed on the order of 50-percent or more. Of course, this is an old stroy. The house that my father bought for $25,000 in 1960 is now on the market for $600,000 and more. That is an inflation, or a devaluation of the dollar by 20 times!!! However, the American public has been in a big sleep on this because food prices have been cheap, the cheap import of clothing and other household goods and low raw materials prices.
With the "wall of money" policy of Federal Reserve Chairman Alan Greenspan, to keep the collapses of September 1998 under control, the money has been more and more slushing around, looking for a place to "invest". One of those places has been the real estate market. As in the collapse of Bear Stearn's hedge funds, this is coming from the collapse of sub-prime CDOs, collateral debt obligation (financial instruments).. And this is just the beginning of the disaster, unless we reorganize the bankrupt financial system like Franklin Roosevelt did in the the 1930s and 40s.

Real Estate Bubble since 1998

The real estate bubble, with its associated REITs and other investment vehicles, like the CDOs, are taking a fall now, but when did the bubble start? 1998 was a turning point in the economy, with the Russian bond collapse and the collapse and bailout of the [LINK=http://hedge-fund-investing.com/?gclid=CLSRoZuw_IwCFSMKGgod8iY7EA]LTCM hedge fund[/LINK]. It was also the beginning of inflation in oil prices and commodities. Look at the wave of inflation and collpase since 1998- the year of VP Gore's move to bomb Iraq and the Sudan.
In fact, the dollar can be said to have already collapsed on the order of 50-percent or more. Of course, this is an old stroy. The house that my father bought for $25,000 in 1960 is now on the market for $600,000 and more. That is an inflation, or a devaluation of the dollar by 20 times!!! However, the American public has been in a big sleep on this because food prices have been cheap, the cheap import of clothing and other household goods and low raw materials prices.
With the "wall of money" policy of Federal Reserve Chairman Alan Greenspan, to keep the collapses of September 1998 under control, the money has been more and more slushing around, looking for a place to "invest". One of those places has been the real estate market. As in the collapse of Bear Stearn's hedge funds, this is coming from the collapse of sub-prime CDOs, c[LINK=http://www.reuters.com/article/bondsNews/idUSN3045916020070501]ollateral debt obligation (financial instruments).[/LINK]. And this is just the beginning of the disaster, unless we reorganize the bankrupt financial system like Franklin Roosevelt did in the the 1930s and 40s.

Home Sales Collapse and Bear Stearns

The home sales slump will hit other financial instruments, as we see in the Bear Stearns Hedge Fund collapse. Home sales (existing homes) are lowest in four years.

June 25--U.S. Sales of existing homes fell in May to the lowest level in four years, while the median home price dropped for a record 10th consecutive month. The National Association of
Realtors reported June 25 that sales of existing single-family homes and condominiums dropped by 0.3% to 5.99 million units in May, the slowest pace of sales since June 2003.

The median price of a home sold last month dropped to $223,700, down 2.1% from a year ago. This marked the 10th straight price decline compared with a year ago, the longest
stretch of weakness on record. The sales declines were heaviest in the South, where sales dropped by 3.4%, and the West, where sales were down by 0.8%.

The inventory of unsold homes rose by 5% to 4.43 million units in May, a level that would take 8.9 months to clear out at the May sales pace. That is the highest inventory level since
the last deep slump in housing in 1992.

Note, the crash is slowest hitting New York City and other metropolitan areas on the Northeast coast.

Real Estate Collapse--- From the Bronx on Down: Bear with me, Sinking by the (bear) Stearns

Real Estate Collapse--- From the Bronx on Down: Bear with me, Sinking by the (bear) Stearns

Bear with me, Sinking by the (bear) Stearns

We have a huge amount of inflation in the economy. With all the bailouts, now of the Bear Stearns hedge fund, this goes on. This is directly linked to the down turn in the real estate market and the sub-prime CDOs (Collateral Debt Obligations). Raw materials are going up, but not as "the market" but as a historically controlled and FORCED PROCESS. The way commodities have gone up is ridiculous.

Over the last few years everything from nickel to copper to gold and silver and of course black gold- oil has gone up. Why should people pay $60 a barrel for oil that cost $5 a barrel to produce in Saudi Arabia?

Next we have the issue of food production. With ADM, Cargill and the other grain cartels getting in on the act, the price of food is finally going up, do to the bio-fuels scam. This is after regular food has been cheapened by lack of price production, driving millions of farmers out of business.

Should the oh-so righteous greenie environmentalist be proud of themselves? They get huge government subsidies for their pet projects-- not for feeding or helping people-- but for literally destroying the food of hundreds of millions. Just so a few fat cats will continue to have gasoline and or diesel, even under conditions being created of virtual or actual world war!

Real Estate, Subprime CDOs and Bear Stearns

The real estate market is about to hit the hedge funds with their collapse. The connection is the Bear Stearn's little hedge fund, and the $3 billion bail out of it. Why the desperation? Because, the CDOs are about to hit the market. That, plus the housing market collapse is going to be another black hole for the financial system. You can see why they need a Nazi dictatorship and endless war and genocide. That's how to keep in "business". Right now, they seem to be caught with their pants down. Then there is the BAE (British Aerospace) affair...

Peter Schiff, president of the Connecticut-based Euro Pacific Capital, warned about a potential "catastrophe" in the CDO (collatoralized debt obligations) markets, due to the Bear Stearns hedge funds collapse. "As long as these CDO bonds stay off the market, as they universally have, asset managers have the luxury of 'marking them to market,'"
Schiff wrote in a research note, reported by Dow Jones. "Not surprisingly, using this method the vast majority of these bonds are valued at par or greater." But if the Bear Stearns bonds were auctioned in the open market, their real values would be exposed. "This would force other hedge funds to similarly mark down the value of their holdings. Is it any wonder that Wall street is pulling out the stops to avoid such a catastrophe?," Schiff wrote. Worse than the impact of hedge fund losses, would be the impact of an open market auction of subprime CDOs. "Their true weakness will finally reveal the abyss into which the housing
market is about to plummet," Schiff wrote.

Carbon Trading More Fun than Real Estate

If the real estate market and the foreclosures are getting you down, how about getting into the Carbon Exchange? Like carbon kisses in the wind, some people like to make money on nothing, as in $24 billion. That's what this Carbon Dioxide racket is about, just breathe and you are polluting! They would make money off the rain, but mother nature might need permission to take a leak! Of course Al Gore’s British controllers are making a killing already.

The City of London intends to reinforce its role as the world’s carbon-trading capital, a favorite policy of Chancellor of the Exchequer Gordon Brown, who takes over from Prime Minister Tony Blair on June 27. A report from International Financial Services shows that the City of London is taking an ever-bigger share of this rapidly expanding market, as banks and brokers become more heavily involved, the {Daily Telegraph, June 19th} reported today. Already last year—even before hedge fund operator Al Gore weighed in with a worldwide propaganda campaign to push the “global warming” hoax,” London’s ICE (electronic energy) Futures market accounted for more than 80% of trading tied to the European Union’s Emissions Trading Scheme (ETS). Europe’s ETS is the biggest “emissions-swapping” swindle of its kind in the world. Total ETS volume tripled in volume and value terms to $24.4 billion, and is predicted to grow another 50% in 2007.

Remember, humans emit CO2, so the above may want to kill the reader and several other billion people for this crime. And then there are those evil rice fields belching methane. If only 3 billion people could stop eating, it would help the carbon count. Oh what a beautiful climate we have now!!!! We can't let it ever change, even if billions must die, but if it's by 2020, people have time to plan and write their will. That's not Nazi! It's just the will of Mother Nature, as interpreted by the acolytes of Margaret Mead and Bertrand Russell.

West is Maybe not the Best - in Real Estate

Housing Industry Continues To Tank

Bad news continued to plague the housing industry in recent days. The Commerce Department’s Census Bureau reported today that in May, U.S. housing starts fell for the first time in four months—down 2.1% from April’s figures, and down 24% from figures of May 2006. The largest drop is in the Western region, which is about 40% below its May 2006 level.

On the subject of foreclosures, a third firm which tracks foreclosures (Foreclosures.com) released their data for May, reporting the highest rate so far. Several stages in the sequence of the foreclosure process are monitored, and notably, although actual final sheriff’s sales of properties are up 42% from a year earlier, the pre-foreclosure stages have gone up 96%, which presages future disaster as those transactions move to the final stage.

All of this is having a predictable effect on home builders. Their trade association, the National Association of Home Builders—which in late 2006 happily agreed in a conference-call with other industry groups that a recovery would begin by the second half of 2007 -- yesterday announced the results of its latest survey (with Wells Fargo) of “builder confidence.” The survey showed a drop in confidence in June, hitting its lowest level since February 1991. “Builders continue to report serious impacts of tighter lending standards on current home sales as well as cancellations, and they continue to trim prices and offer a variety of nonprice incentives to work down sizeable inventory positions,” NAHB quoted its President, Brian Catalde. NAHB’s chief economist said they don’t expect any recovery in their sector ‘til 2008. [GRC]

War Could Blow the Real Estate market up

Yes war could make things down in Florida a lot worse. After all, you need a lot of gasoline to get down there. And the bells are tolling for the builders Toll Brothers. Maybe Cheney will be forced out first:

Is Cheney Blocking Rice's Testimony on Yellowcake Hoax?

June 19, 2007 (LPAC)--Despite having been served with a subpoena, Secretary of State Condi Rice is still refusing to testify in front of the House Oversight and Government Reform Committee about the Niger yellowcake hoax and how the infamous "16 words" got into the President's 2003 State of the Union Address. Rice was President Bush's National Security Advisor at the time, and frequently trumpeted Vice President Dick Cheney's propaganda line that Saddam Hussein was on the verge of obtaining nuclear weapons.

Rice's appearance before the committee has been scheduled a number of times, including for today, with the White House stalling, and even using the excuse of Rice's trip to Moscow, to postpone her appearance. Observers believe that it is Dick Cheney who is insisting that the White House refuse to permit Rice to testify. The next step would be for the full House of Representatives to vote to find Rice in contempt of Congress.

Committee chairman Rep. Henry Waxman disclosed last week that committee investigators are continuing to interview witnesses and examine documents relative to the Iraq/Niger claim. In recent weeks, the committee has taken depositions or conducted interviews of former CIA Director George Tenet, Tenet's deputy John McLaughlin, and former CIA anti-proliferation official Alan Foley; plus retired Army Col. Larry Wilkerson (Colin Powell's former chief of staff); and the former head of State Department intelligence, Carl Ford.

The Hill reports that committee member Rep. Carolyn Maloney (D-NY) also wants to talk to Rocco Martino, the shadowy Italian businessman who allegedly passed the forged Niger documents to an Italian journalist.

Seaside Real estate is back in, Al Gore is Out

The good news is that seaside real estate is back in. Al Gore is out of style, and his theory of manmade global warming exposed as a total fraud. so, hit the beach boys and dont worry about the floods of mmgw.


Reid Bryson is citing man-made global warming as a cult, has some mighty fine credentials. But, he is also citing the evidence that educated school children used to know. Like they called it Greenland cause it was green, and the Norse raised grapes in Newfoundland. Of course, if they want to brainwash Americans into being a bunch of Nazi nutcases, that's another story. On being asked about the Al Gore movie, an Inconvenient Truth, he said "don't make me throw up".

Man-Caused-Global-Warming Is Not Science, "Almost a Religion," Says Father of Scientific Climatology


June 18 (LPAC)--The man known as the father of scientific climatology, considers global warming a bunch of hooey. Reid Bryson, a University of Wisconsin-Madison professor emeritus, says, "There is no credible evidence that it [the Earth's warming] is due to mankind and carbon dioxide. We've been coming out of a Little Ice Age for 300 years. We have not been making very much carbon dioxide for 300 years. It's been warming up for a long time," Bryson said. The Little Ice Age was driven by volcanic activity. That settled down, so it is getting warmer, he said.

In a interview published in the June 18 Capital Times of Madison, Bryson said that humans are polluting the air and adding carbon dioxide to the atmosphere, but the effect is tiny.

"It's like there is an elephant charging in, and you worry about the fact that there is a fly sitting on its head. It's just a total misplacement of emphasis," he said. "It really isn't science because there's no really good scientific evidence."

The so-called consensus in the scientific community that global warming is man-caused proves absolutely nothing, Bryson said. "Consensus doesn't prove anything, in science or anywhere else, except in democracy, maybe."

Bryson, 87, was the founding chairman of the department of meteorology at UW-Madison and of the Institute for Environmental Studies, now known as the Gaylord Nelson Institute for Environmental Studies. He retired in 1985, but has gone into the office almost every day since, without pay.

Why are thousands of scientists promoting global warming? "There is a lot of money to be made in this," Bryson said. "If you want to be an eminent scientist you have to have a lot of grad students and a lot of grants. You can't get grants unless you say, `Oh, global warming, yes, yes, carbon dioxide.'" Speaking out against global warming is like being a heretic, Bryson noted.

"There is very little truth to what is being said, and an awful lot of religion. It's almost a religion, where you have to believe in anthropogenic global warming or else you are nuts."

Bryson didn't see Al Gore's "An Inconvenient Truth." "Don't make me throw up," he said. "It is not science. It is not true."

Rentals are Looking Good, for Vacations

Rental of apartments, etc. is looking a lot better than buying anything these days. Why commit huge financial resources when the market keeps falling and there is no bottom. On the other hand, real estate is still, well real.

And a beautiful vacation in Maui is damn right real. I was impressed with the idea of renting a 3 bedroom vacation home in Lahaina Baby Beach Hale, except I don't know what a hale is. Anyway, that is alot of space for "only" $500 a day, but does the maid come with it or extra? Anyway, that is only one block from the beach.

If you are a total cheapskate like me, there is the one bedroom cottage 3 blocks from the beach, and who cares, cause once you get to the beach, man, you stay there all day, right? In Maui, in the state of Hawaii, you will be on vacation.

Real Estate Bubble Down, New Carbon Bubble

Even with the real estate bubble going down more and more, there is an attempt to create a new bubble around the carbon swindle. You have to buy the right to burn coal, etc. and create carbon dioxide. This is supposed to ease global warming, which is a total fraud, at least as a man-made phenomenon. In fact, over the last 10 years, the actual phenomenon of global warming has gone into a global cooling phase. That may help your real estate in Florida, though hurt it in Newfoundland (its too cold)!

An abbreviated and edited German version of the BBC film was finally shown for the first time in public on German TV to a broad audience. The private, widely seen RTL-TV station stressed explicitly, that for reasons of relevancy, the program was being aired after the just concluded G-8 summit in Heiligendamm, which had put the climate hype into the center.

The program ran most of the main elements of the BBC film, followed by a discussion between former Green environmental minister Trittin, a "leading" German meteorologist, an 'environmental economist' from the German Institute of Economics (DIW), a known Bavarian cabaretist, a leading journalist from Stern magazine, a futurologist and a Dutch climate scientist in the audience. What was completely left out of the German version however, was the whole question of genocide in the Third world as a result of the dictate to reduce CO2 emissions – and thus the moral and civilizational dimension, which is at stake. However, otherwise the whole program was quite straight forward and created a useful psychological shock in an otherwise completely brainwashed discussion in Germany.

The moderators started off by saying, that the show was put on the air "for reasons of relevancy," due to the just concluded G-8 summit, where again the fight against global warming was declared to be a priority. But, if this is just one big swindle, what then? From there, the show went through the different questions: Is this just one big swindle, what is causing global warming then, why are politicians lying to us, who is profiting from it, etc, showing most of original BBC-film clips. The discussion in the TV studio with guests, was opened by a statement from the futurologist, who exclaimed how much he liked the fact, that with this evening, "a discussion finally has been opened", and how dangerous it was to dogmatize such a discussion, playing on people's fears. Former environmental minister Trittin freaked out in the beginning, when asked what he thinks about the film's documentation. He "answered" by saying, that there were also reports in the internet, which claimed that the Americans themselves organized 9/11! After some unscientific remarks by the other two proponents of global warming, cabaretist Lisa Fitz surprisingly stated, that first and foremost, she has now had it with hysteria, reminding people of previous 'catastrophe scenarios,', lumping everything into one bag: AIDS, dying of the forests, dead birds. One would have to ask always who is profiting from these scares, referring to those "big profits," which Rumsfeld and his company made with the sale of Tamiflu. At that point, it would have been more than appropriate, to mention the Green hedge funds, Al Gore and his German friends.

The 'environmental economist' of the DIW exposed herself, speaking about what the effect would be, if "the population develops" as before, without elaborating further. She also explained, how scientific 'scenarios' are developed, which then lead to political decisions. The Dutch scientist Labohm was asked about global warming and stated plainly, that there has been a global cooling of temperatures, not a warming, in the last ten years. On this, the official meteorologist completely exposed himself, when confronted by Labohm, that he was basing himself entirely on "German warming data". Labohm ridiculed him: "You as a meteorologist must know, that this is completely irrevelant, it's the global climate, which matters!" This was a point scored, which even the most ignorant viewer could understand, who still might have been confused up to that point.

In the end, there was a vague discussion about how it does not hurt to save energy, since coal and oil will come to an end. While it was pointed out, that the 'alternative energies' are also not liked by everybody (for example, those disturbing windmills), nuclear energy was kept out of the equation completely – with frequent remarks throughout the show, that "as the film documented", it was really the nuclear industry behind the scare… This seems to be prepared as a fall-back option for the public debate. However, the moderator closed by saying that he relies on human ingenuity, which always has found solutions to previous problems. This is true – through a global Eurasian development perspective, and the massive use of nuclear energy. It is again the BüSo, which is already creating the public environment for that with an initial run of 100.000 pamphlets on the Eurasian development perspective, counterposing it to the Malthusian nature of the CO2 swindle.

Improve Real Estate with Great Projects

Is Russia a target of the GWOT? Tired of following Al Gore and the lust after polar bears set. How about following a series of conferences that have taken place in Russia recently. They are even about a new U.S.-Russia Alliance. This doesn't mean the war danger has gone away, if anything it has been heightened.

One conference in May was to celebrate the 80th birthday of the famous Russian econmist Prof. Mikhavich Menshikov. A few weeks later, in early June was the Russian conference on the Bering Straits tunnel project, to connect a railroad project through Siberia and Alaska to Moscow and Washington DC. A key speaker at the conference was former Gov. Walter Hickel of Alaska. Lyndon LaRouche the political gadfly had a paper read too, and showed up in Moscow a week later.

More to come on a series of articles in the Russian press on the historic US-Russia friendship, and the target of this relationship, the perfidious British!!!

BAE Systems Scandal will hit Real Estate Grab in the Middle East

In a way, the endless war drive in the Middle East is a giant real estate grab. And of course a lot of money and bribery is involved.
There is a big scandal about $2 billion or so in bribes to Prince Bandar of Saudi Arabia. Prince Bandar is a leading collaborator of Cheney in the White House and the war. Then there is the wolf in sheep's clothing, Lord Woolf.

In fact Prince Bandar is notorious for pushing an Iran war, and a Sunni-Shiite war. But I think there is a lot more than money involved in this corruption in Great Britain, and involving the Blair Government, and the incoming PM as well.

June 11, 2007 (LPAC)-- In the firestorm around its multi-billion dollar covert slush-funds, the giant British arms company BAE Systems has chosen Lord Woolf, former chief justice of England and Wales, to head the company's review of its own practices, according to British Broadcasting Corporation.

Lord Woolf is currently in the tiny oil-rich emirate of Qatar, which borders Saudi Arabia on the Persian Gulf. Lord Woolf retired from his British post in October, 2005. A few months later Qatar announced it was appointing him President of the Tribunal over the newly created Qatar Financial Center, a projected paradise for global speculators, explicitly modeled on the City of London.

In the same (May 22, 2006) announcement, Qatar designated British attorney William Blair -- older brother of Prime Minister Tony Blair -- as chairman of the Financial Center's Appeals Body, making Woolf and Blair the Center's highest legal authorities. William Blair is a top international banking representative.

Woolf and Blair flew to Qatar last month to set their operations in motion.

Meanwhile back in London, the same Woolf-Blair Qatar entity is sponsoring a strategy session on the long-term relationships between the emerging money centers in the Persian Gulf and the City of London financial center. Baroness Symons will co-chair this June 28 meeting, hosted by the Middle East Association, of which she is Vice President. The meeting was arranged jointly by the City of London and the Gulf Cooperation Council, created in 1981 by Saudi Arabia.

Baroness Symons is a leading figure in the UK-US-Saudi financial and arms relationships behind the BAE scandal. She was Minster for Defense Procurement from 1999 to 2003, and has since served as Tony Blair's special envoy to Saudi Arabia and to the Middle East. Her husband, former Blair aide Phil Bassett, helped run the falsification of intelligence that led to the Iraq war.

Baroness Symons herself has organized the Blair regime's management of the slander campaign against Lyndon LaRouche in the case of Jeremiah Duggan.

Executive Intelligence Review is updating its 1997 investigation of Armor Holdings, the U.S. defense contractor that was acquired this year by BAE Systems for $4.1 billion.

the Carry Trade and the Real Estate Bubble

The carry trade has entered into the real estate bubble. Individuals are getting loans in other currencies than their home country, and hoping that their own currency does not collapse in value.

Reports are that:

Millions of people throughout the world, especially in Eastern Europe, are using the carry-trade, usually the preserve of big-time gamblers, to take out home mortgages. In the carry-trade, an investor borrows money from one country, where the borrowing cost is low, and invests it in another country, where investments yield a high rate of return (see yen carry trade). Now, households are insanely engaging in this risky practice, taking out a home mortgage in a foreign currency at low interest rates, sometimes half the rate of interest charged in their home country.

The May 29 Wall Street Journal reported the case of Tamas Bencze, of Budapest, Hungary, who took out a foreign-currency mortgage loan at 5.75%, whereas if he took out that same mortgage loan in Hungary, the interest rate on the loan would be 14%. However, if the Hungarian currency, the florint, were to sharply depreciate, then Bencze's mortgage would become suddenly unpayable.

The mortgage carry-trade is the latest craze. In Poland, one-third of all mortgages are contracted in foreign currencies. In Hungary, half of all the mortgage loans are foreign currency-denominated, according to the country's central bank. The Swedish bank SEB reports that 70% of its lending in Latvia, is in foreign currency, rather than the local currency, the lats.

The mortgage and regular carry-trade have created an immense danger. In countries throughout Eastern Europe-- Poland, Hungary, Latvia-- the foreign currency debt coming due now exceeds the reserves of those countries' central banks. Were foreign investors to pull out funds from those countries-- which prop those currencies up-- the currencies would crash. This would intensify ungovernability in Europe.

The U.S. has also jumped aboard the mortgage carry-trade bandwagon. According to the Journal, an individual bought a 7-bedroom house in Kissimmee, Florida, by borrowing the equivalent of $240,000 in yen from Britain's Lloyds Bank. Some giant banks are making such loans with the same fervor that they had made with subprime mortgages. This added element of insanity will make the housing market explosion a once-in-a millennium event.

Real Estate Crash

There is a whole lot of real estate crash going on.
And it won't go away by trying to pretend that everything is OK. Commercial real estate will crash along with sub-prime mortgages. We need an FDR style reorganization. Mortgages, and Mortgage Backed Securities will be history. Repeat after me.

There is a whole lot of real estate crash going on.
And it won't go away by trying to pretend that everything is OK. Commercial real estate will crash along with sub-prime mortgages. We need an FDR style reorganization. Mortgages, and Mortgage Backed Securities will be history. Repeat after me.

There is a whole lot of real estate crash going on.
And it won't go away by trying to pretend that everything is OK. Commercial real estate will crash along with sub-prime mortgages. We need an FDR style reorganization. Mortgages, and Mortgage Backed Securities will be history. Repeat after me.

There is a whole lot of real estate crash going on.
And it won't go away by trying to pretend that everything is OK. Commercial real estate will crash along with sub-prime mortgages. We need an FDR style reorganization. Mortgages, and Mortgage Backed Securities will be history. Repeat after me.

I think you get the message, Blackstone, UBS, and Blackrock and Citigroup?

Commercial Real Estate Bubble, what is next?

There is a lot of gossip around. Even though the home buying and selling market is down totally, a huge amount of hyperinflationary funny money is going into the commercial real estate market. As a proof reader you see the mega-deals (like I do) coming through the law firms every night.

This shows how the system needs a bankruptcy reorganization. Huge amount of money is issued, and then the money has to go someplace. If one bubble collapses, Blackrock, Blackstone, Bears and Stearns, UBS, Citigroup etc, must create another one. And they do, and they do, and they do.