Posted on 04/02/2009 3:05:14 PM PDT by Notoriously Conservative
This is some scary stuff. Celente has a history of being right in his predictions. Video on site
(Excerpt) Read more at notoriouslyconservative.com ...
This isn’t rocket science to predict though. Given Zero history with ACORN as nothing but an agitating protest group - they were the catalyst for the Sub Prime meltdown, after all, “riots” like this are no doubt paid agitators of the World Wide Left. I mean, who else riots but people on the Left?
And now that ACORN and all of their subsidiaries got a taxpayer cash infusion of over $2 Billion in the Porkulus Bill, you can be guaranteed that we’ll be seeing plenty of Street Theater here at home. Bank on it.
"CRE (Commercial Real Estate) has its own vicious cycle. Unemployment increases, demand for office space decreases, rents fall, and then commercial property prices fall. CRE prices have already fallen and the next leg down could make the subprime crisis look like a cakewalk."
Celente has been calling for this stuff for 2 yrs now though when everyone was calling him a KOOK. He is ALWAYS right.
I always love to hear whatever Gerald Celente has to say.
Already under way in jOakland.
Celente it was said
If Nostradamus were alive today, he’d have a hard time keeping up with Gerald Celente.
Have you seen his Bank Holiday video? 2009 Run on Banks obama 08-Depression 09 Not Just A Bumper Sticker Anymore
http://www.youtube.com/watch?v=i4KsZPgTehk&feature=related
Commercial is falling unbelievably fast. Rental rates are collapsing. In some cases there are cut in half already. Lots and lots of commercial buildings up for sale in the Inland Empire of Kalifornia. In fact sometimes, its hard to find one that is not up for sale. The owners all know they wont generate enough revenue to pay the mortgage. We have so many empty commercial units in my complex that the owner is letting his biggest renter use whatever open units he wants for storage. They just booted two more failed business renters out this month.
My son has two residential rentals in Glendora...so far so good.
My son has good renters. I told him it would be in his best interest to maybe take the initive and approach his renters with a reduction. He said he'd think about it.
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