« USA And India: World's Top Two Gold Buyers | Main | Bernanke Talks About Our Dying Banking System »

Comments

Cato

The statements from the Beige Book are laughable. Bullish assertions about commercial real estate are now contradicted by industry insiders.

From the WSJ: "Lenders are becoming a lot more careful about the borrower," says Phil Feder, a real-estate attorney at New York law firm Paul, Hastings, Janofsky & Walker LLP. "... I have seen approval for new loans slowing and it's generally becoming more difficult for real-estate funds and other investors to get financing for their projects." & "It's going to bring the price of real estate down," says Gary Mozer, principal with George Smith Partners, a Los Angeles-based commercial real-estate finance firm. The "meltdown" in the CMBS market has caused a "sea change" in the amount that real-estate investors can borrow."

And to the claim that manufacturing was up strongly in most district indexes; maybe a few pictures to accompany your statement that "our cities are dying" will hit home. Here's a link offered on Jim Kunstler's site this morning: http://www.growingchicago.com/images/other/mypicsVI/

Elaine Meinel Supkis

Correct, Cato. Thank you for the link. Kunstler and I have had arguments in the past. Heh. But he is a good man on one topic (he is a Zionist).


The Beige Book did its magic. For one more session, we got a bull market as the average Joe and Jane kept their money in stocks and didn't run on the dollar.

gehi

nike store,air max shoes,dunk sb shoes,nike shox shoes

angel

puma sheos

angle

tiffany jewerly

discount


air max 2003

angle

nike ir max

discount

air max 1

discount

air max 2

angle

nike sb dunks

discount

airmax

discount

nike sb dunks

men mid dunk

The comments to this entry are closed.

Blog powered by Typepad