"Newly printed dollars are being used to replace the capital losses of America's corporations. If it were possible to replace wealth simply by printing money, humanity would have eliminated poverty shortly after discovering the printing press.
"Instead, it always results in the same fate – destruction of the currency through the process of hyperinflation."
Mike Hewitt, editor of www.DollarDaze.org, December 2008
Soot & Ashes Favourite Blogs
PerpWalkWatch - # of Hours New AG Eric Holder Has Let Angelo Mozilo Run Free
Eric Holder and Barack Obama
Failure to
Arrest
Angelo Mozilo
2862 Hours
(countdown suspended 6/21/2009)
ERIC HOLDER - YOU ARE A COWARD
DO YOUR JOB
(UPDATE 6.4.09 - SEC CHARGES MOZILO WITH INSIDER TRADING. YET ERIC HOLDER STILL SITS ON HIS ASS AND DOES NOTHING)
Posts
Comments
15 comments:
If jobs lost continues at this rate for next several of years then be prepared for a Depression.
Remember when the market crashed in 1928, the unemployment rate didn't just go to the 25 percent range one month after the crash, it took period of three years before jobs lost reached it peak in the Great Depression.
Things to look for now is rent price falling and not just commercial but also residential as unemployed workers move back in with family members in hard times.
http://www.guardian.co.uk/
business/feedarticle/8112056
Job losses hurt demand for office space, retail and hotel space, so if the United States lost more jobs in November, it could mean a hard knock for U.S. commercial property.
U.S. commercial real estate, which includes office buildings, shopping centers, apartment buildings, hotels and warehouses, has been grappling with tight credit markets, and heightened pressure on rental and occupancy rates as job losses mount and the U.S. recession deepens .
So far this year the U.S. economy has shed 1.2 million jobs, with about 40 percent of them having been office workers.
Commenting on high number of lost office jobs, Ken McCarthy, an economist with real estate services company Cushman & Wakefield, said: "What this is telling us is what we're in is a white-collar recession."
At least with the market crash you are not seeing inflationary pressure on rent in New York.
http://www.reuters.com/article
/domesticNews/idUSTRE4B36Z620081204
The data is more evidence New York City is finally experiencing the kind of pain in its housing market that the rest of the United States has been dealing with for years.
November rents fall in Manhattan
Vacancy rates rose in Manhattan in November according to data compiled by Citi Habitats, a New York City brokerage.
Citi Habitats does not factor into its data the incentives, such as a free month's rent, that landlords might offer tenants, spokesman Christopher Dente said.
Checkmate.
I wonder how much more worthless US debt the chinks will buy?
Are they really that stupid and desperate to sell their tainted leaded childrens toys to America and get nothing but Bernanke Bucks in return?
Why don't the American Pharma companies make drugs in China? Big Profits I hear. Low labor costs and nonexistant health requirements for factories and worker drones...
AMERICA IS DEAD
There is no way now that a severe "white-collar" recession, and perhaps depression, can be prevented at this time.
We're reaching "critical mass" across companies now, where the elimination of just a few employees means production drops so drastically that the company can no longer function property.
The automotive industries are now on the brink of complete failure.
Even if they're given a big wad of devaluating currency, it will do nothing for the workers of the company - THE "BIG 3" ARE FINISHED.
We need to focus on the remaining solid companies left in this industry, and stop wasting more money on companies that are going to fail anyways.
Mean while, back here in Southern Ca. along the coast, conditions are getting much worse. More foreclosures, and bank owned properties.
The problem is hitting everyone now, and it's of a systemic nature.
No amount of money thrown at this problem will fix it, and the debt we're saddling future generations with is a crime against humanity.
If job lost continues at this rate for next several of years then be prepared for a Depression.
Remember when the market crashed in 1928, the unemployment rate didn't just go to the 25 percent range one month after the crash, it took period of three years before jobs lost reached it peak in the Great Depression.
Things to look for now is rent price falling and not just commercial but also residential as unemployed workers move back in with family members in hard times.
http://www.guardian.co.uk/
business/feedarticle/8112056
Job losses hurt demand for office space, retail and hotel space, so if the United States lost more jobs in November, it could mean a hard knock for U.S. commercial property.
U.S. commercial real estate, which includes office buildings, shopping centers, apartment buildings, hotels and warehouses, has been grappling with tight credit markets, and heightened pressure on rental and occupancy rates as job losses mount and the U.S. recession deepens .
So far this year the U.S. economy has shed 1.2 million jobs, with about 40 percent of them having been office workers.
Commenting on high number of lost office jobs, Ken McCarthy, an economist with real estate services company Cushman & Wakefield, said: "What this is telling us is what we're in is a white-collar recession."
Anonymous Anonymous said...
Checkmate.
I wonder how much more worthless US debt the chinks will buy?
Are they really that stupid and desperate to sell their tainted leaded childrens toys to America and get nothing but Bernanke Bucks in return?
Why don't the American Pharma companies make drugs in China? Big Profits I hear. Low labor costs and nonexistant health requirements for factories and worker drones...
AMERICA IS DEAD
December 7, 2008 4:43 PM
Why do you feel the need to call the Chinese people a racially derogatory name?
Listen up folks, we are Americans. We are the wealthiest nation on the face of this earth. We are number one in everything. We will experience a small bump in the road. But mark my words, by the fall of 2009 things will pick up. Real estate, stocks, etc.... will start going up. NEVER BET AGAINST AMERICA!
The Economy is like a battle, and not every battle can be won or worth winning.
http://www.washingtonpost.com
/wp-dyn/content/article/2008/12
/06/AR2008120601388.html
Manny Pacquiao fought a lot bigger than he looked. Oscar De La Hoya simply looked old. Pacquiao dominated his bigger and more famous opponent from the opening bell Saturday night, giving De La Hoya a beating and closing his left eye before De La Hoya declined to come out of his corner after the eighth round.
The fight was so lopsided and De La Hoya looked so inept that it could spell the end for boxing's richest and most marketable star.
Money is a measure of Unit Labor Worked, but when there is no WORK then who will keep track of the money.
http://news.yahoo.com/s/nm/
20081207/us_nm/us_autos_ports
From pricey luxury sedans to popular hybrid cars, automobiles made overseas are stacking up at ports and parking lots around the United States as supplies far outstrip demand amid the nation's worst auto market in more than 25 years.
Instead of printing more US Dollar would it be better to give every American a new flat screen TV.
This would help with Falling Demand
http://mdn.mainichi.jp/mdnnews
/news/20081206p2a00m0na012000c.html
Flat screen slump forces Toshiba to pause production for first time since 2001.
Electronics manufacturer Toshiba Corp. has announced that two of their main semiconductor production lines will be shut down over the New Year holidays, due to a slump in demand for flat panel TVs and other electronic devices.
Wouldn't hyperinflation be a benefit to large U.S. companies with massive dollar debt such as GE and GM? Dollar goes down 10 fold so do the debt obligations.
There is a BIG hole to fill before that "printing" will start hyperinflation. The hyper-printing is meant more to off-set the hyper-deflation.
Just my 2c
"Wouldn't hyperinflation be a benefit to large U.S. companies with massive dollar debt such as GE and GM? Dollar goes down 10 fold so do the debt obligations."
Benefit some, yes, but probably less than you might think. The problem with big swings in inflation rates is that companies get caught off guard. If you have no idea how much your supplies will cost and how much your customers can afford to pay next month, your business suffers. To manage a big company you need to have metrics that you can rely on with a certain degree of certainty and inflation/deflation swings just screws everything up. Imagine trying to run an airline right now - what the heck do you put down for projected costs when oil is your biggest expense?
Anonymous -
Despite the chanting, we are not number one in everything. There are quite a few areas where we are not number one. Very important areas. Try infant mortality, literacy, life expectancy, voter turnout, and education. There are many others.
This is a great place, and we have a lot going for us. But the kind of blindness and hubris you are demonstrating is what got us into this mess. We could solve a great many of our political and military dilemmas abroad if we would just be more humble and stop pretending that we're too superior to deal with them.
If we want America to be the greatest nation on earth, it will take ethics, forbearance, and sacrifice to get there again. We have a lot of work to do.
P.S. I'm making stupefying returns betting against America right now. I expect that to continue so long as we have people in power (elected or otherwise) who don't believe that government can or should help people; people whose express goal is to destroy our faith in the ability of the government to act in our interests. But you should never bet for or against a place based on your ideology. That's just asking to lose money.
funny. all weekend i've been searching for apartments in The Village, Soho, Chelsea - to be closer to work. 1600-1800 for a studio. 1700-2k+ for a 1 bedroom - depending on the neighborhood of course.
subway fare is going up. service is being cut. paying a few hundred $'s more a month in rent is worth not having to ride the R train, N train or D train.
i'm thinking i should just wait. a couple of months at least.
any ideas out there ?
What job losses? My company just hired 5 more H1-B visa workers in I.T.
IS THIS A GREAT COUNTRY OR WHAT?!
Post a Comment