Las Vegas is to the real estate bubble what Detroit was to the US automobile industry – Empty condo projects, apartments poorly built to face the desert sun, and the collapse of commercial real estate.
If Wall Street is the hub of American finance then Las Vegas was the manifestation of credit dreams going viral. Las Vegas, the beating heart of Nevada had a tremendous boom with the real estate bubble because it played into the narrative of making it big. Where else can unknowns strike it big and have […]
The red queen race of debt – US public debt set to pass US annual GDP. The 100 percent GDP to public debt threshold is quickly approaching.
People may not even realize that during the Great Depression, US Federal debt as a percent of GDP did not even reach 40 percent. Part of this was because the size of government was much smaller in military, public services, and entitlements. The only time in history that the US as a whole spent more […]
The growing chasm between rich and poor in America – Latest data shows that 500,000 people were added to the food assistance program in one month. 6 million Americans added over the last year. Those that buy diamonds versus those that barely have enough to buy soup.
The shrinking of the American middle class is painful to watch. Shopping at the grocery store I’ve noticed more and more people with unique debit cards that don’t look like your typical debit or credit card. These are actually the modern day food stamps and help to take away the stigma of pulling out a […]
The shadow bailout of the commercial real estate industry – bailing out the Ritz, failed million dollar unit condo projects, and buying empty shopping malls. Why the Fed wants to destroy the US dollar and continue the failed bailouts of the banking sector.
It is amazing that so little information about commercial real estate has made it onto the mainstream media. Few in the public realize that commercial real estate (CRE) has actually fallen harder than residential real estate yet 99.9 percent of all media coverage has been strictly on residential real estate. The CRE market is enormous […]