Archive for March, 2009
At the height of the real estate boom, people were advising to buy my own condo. I had the wisdom to say “No”. I stated that housing prices would decline and this would result in a bib.
After reading this article , I guess that I was correct. According to the article, the average rate of decline was 19%.
However, I lived in Southern California where where the prices decline by 40%. My little prediction came true. What I did not expect near-collapse of the entire US economy. In conclusion, my foreknowledge saved me from fiscal disaster and not buying property at the height of real estate frenzy.
It looks like Rich Wagooner has quit GM. The Obama adminstration has stepped down as part of the GM’s restructing process. Obama has promised GM to have additional aid but with significant strings attached Reuters rreports that Canada will help GM coordinate with some aid
My bet is that General Motors will not last for the year. My solution is let GM go into bankruptcy and let it spin off the profitable divisions and wind down the segments that are losing money. A much smaller company would emerge but I think that it is best strategy to ensure the company’s survival.
I just got my tickets for the Joshua Tree Musical Festival. The lineup looks to be hot this year
I saw a poll that states there should be a million man march of White men. I look at the results and I was shocked. The majority of the people stated “Yes” and the website devoted for discussion of the news. And I stated to myself “Jim Crow is still alive in this country”
As Madoff sits in a cell in the Metropolitan Correctional Center, his empire is mere shadow of what it used to be. From being worth $823 Million Dollars to spending the rest of your life in small jail cell, how the mighty have fallen.
And his firm. What is the valuation. Only a mere $500,000. He will be remember as the biggest conman in history. Madoff will always be an example to those who worship the idol of material and the consequences of that. Do not take solace in money. Take solace in the spiritual prinicples of this world whatever your faith.
$500,000 that is it. Mr. Madoff, may God have mercy on your soul. And oh yes, if the Christian God is real, you still can get saved.
It is tired and my brain is fried. More thoughts on the news and life tommorow. And oh yeah, I got the phone assignment at my On the Couch meeting.
It seems that CNN does a lot of these time. Sob stories and lots of them. It seems like everyday that they have a new story about this epic recession.
What we must learn from these stories? To feel empathy for the suffering and be grateful for things that we have now.
It looks like the governor is going to county jail. Is Kelso smoking crack thinking that he is going to send the Governator to the county jail. (http://tinyurl.com/cny4dy)