Posted on 12/22/2008 1:08:22 AM PST by do the dhue
With a record amount of commercial real-estate debt coming due, some of the country's biggest property developers have become the latest to go hat-in-hand to the government for assistance.
They're warning policymakers that thousands of office complexes, hotels, shopping centers and other commercial buildings are headed into defaults, foreclosures and bankruptcies. The reason: according to research firm Foresight Analytics LCC, $530 billion of commercial mortgages will be coming due for refinancing in the next three years -- with about $160 billion maturing in the next year. Credit, meanwhile, is practically nonexistent and cash flows from commercial property are siphoning off.
(Excerpt) Read more at online.wsj.com ...
GWB: worst.president.EVER.
Can you say, Greater Depression?
No end to the Beg-O-thon list.
Yea, I am sure Georgie could have done a lot more, but it is not all on him.
I believe to save capitalism, we must get back to our Christian roots.
If we do not have our Christian roots to fall back on, we become Darwinian Survivalist. Greed sets in and the greed will destroy our way of life.
> GWB: worst.president.EVER.
I think it is way premature to draw that judgment on GWB. I happen to think he was a great war-time President and that History will be kind to him.
Do you remember Carter, or were you too young?
Clinton at his best was worse than GWB at his worst.
And BHO has yet to impress us with his term in office.
Beg-O-thon.
That is good. We need a Jerry Lewis for this show!
I’m trying not to think in terms that harsh, but it could well be the case. :-(
| Selling Apples in the Depression |
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| A jobless man sells apples on the streets of New York City in 1932. More than 15 million people, nearly one quarter of the United States work force, were unemployed by 1932, three years after the stock market crash that signaled the beginning of the Great Depression. |
http://encarta.msn.com/media_461539855_1741500823_-1_1/selling_apples_in_the_depression.html
For a narcissist, that is one heck of a accomplishment.
I just hope he keeps talking. The more he says, the more he can hang himself with.
If we do not have our Christian roots to fall back on, we become Darwinian Survivalist. Greed sets in and the greed will destroy our way of life
That will be happening automatically with this severe downturn
Church and synagogue attendance will be up
When the gods of materialism desert them there is great empty space for the real God to come in
Wow, I need to go save her! You know, she digs me. You should see the way she looks at me when she is on the TV.
I do miss her.
Well, Maybe something good will come from something bad. I think it would be best to continue to pray for the will of God.
If you think “we’re” headed for tough times, you’d better start checking your own rear view mirro.
IF he were smart, he would shut up.
* Note: see big IF
That’s me she looking at!
I’d be on her like a Lilliputian (she’s 6’3”)
At any time, we can take this outside! That is my Lady, bud! It is I she is smiling at, not you. You need to get that straight.
Dang, why do people like you think she is looking at them? How foolish you people are!!!
;-)
Dodd, Franks, et al, authored this scenario. Bush and others sounded the alarm but were rebuffed; Congress thumbed their nose at those who were calling for regulatory oversight. I place the blame squarely on all who created this morass, which seemed to instantly appear right after McCain said that the economy was sound. Those who are trying to fix it are only responsible for making the wrong decision about the aftermath.
> If you think “we’re” headed for tough times, you’d better start checking your own rear view mirro.
We’re old hands at having our Gummint ruin our economy for us: we’ve had lots of practise at that!
To be sure, it’s not marvelous here, and it will get worse before it gets better. Whenevr the US sneezes we catch a cold. On the upside (if there is one), it takes less to turn around a tiny country of 4 million people than it does a huge country of 400 million.
Still, we’re doing our best: we elected a conservative gummint on November 8, and by his early signs he’s going to run a prudent operation.
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