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View Diary: Resurrect and Energize and Modernize the Conservation Corps (209 comments)

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  •  Were going to need it... (4+ / 0-)

    The Dubai news is the beginning of Credit Crisis Round II. Commercial real estate in the US is imploding and will continue to do so and defaults are rising considerably. China is also exposed to the issues surrounding Dubai. Too many links to follow in the unfolding disaster but suffice it to say we are not even close to turning a corner. Were going to need something to put people back to work because the problems in the economy are going to get worse not better in the near term....

    The era of procrastination, half-measures, soothing & baffling expedients, & delays, is coming to a close. We are entering a period of consequences - Ch

    by PrometheusUnbound on Mon Nov 30, 2009 at 10:37:43 AM PST

    •  Commercial Real Estate in Japan... (4+ / 0-)

      fell 87% at the beginning of the 1990s, giving back all the gains of the bubble that had built up over the previous decade.  The US could easily face a similar drop.

      •  Absolutely true...commercial real estate (2+ / 0-)
        Recommended by:
        Kimberley, A Siegel

        has already fallen 42.9% in the US and the default rate is rising quickly. Suffice it to say that the sector will have as much or greater impact on the economy as a whole as the retail real estate sector did when defaults went through the roof. This is like we hit the iceberg and now we are seeing the bulkheads give way...

        The era of procrastination, half-measures, soothing & baffling expedients, & delays, is coming to a close. We are entering a period of consequences - Ch

        by PrometheusUnbound on Mon Nov 30, 2009 at 10:51:39 AM PST

        [ Parent ]

      •  Oh no. We have.... (0+ / 0-)

        all those checks and balances, remember?  Even the cretin Phil Gramm couldn't undo them all.  Grrrrrrrrrr!

        "Have a beginner's mind at all times, for a beginner knows nothing and learns all while a sophisticate knows all and learns nothing." - Suzuki

        by dolfin66 on Mon Nov 30, 2009 at 11:05:51 AM PST

        [ Parent ]

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