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alstry (35.76)

And Benny The B calls this a Recovery?????

Recs

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January 23, 2010 – Comments (5)

A year after changing owners and 10 months after changing names, Cincinnati Mall is fading again.

Treehouse Kids Co. and the Guess Factory Store this month joined a growing list of tenants closing up shop in the region’s largest shopping center, formerly known as Cincinnati Mills and before that, Forest Fair Mall. Local real estate brokers say anchor tenant Bass Pro Shops is exploring options as its lease nears expiration, too.

“It’s a bad situation there,” said Treehouse Kids owner Scott Jasper. “It’s just about empty now.”

Beyond the leasing woes, the property is one year late on payments required under a 2004 bond deal. Forest Park Finance Director Harlita Robinson said the mall’s new owners missed a $1.2 million payment last February. Another $1.3 million is due in a few weeks. The money is needed to cover debt service on $18 million in revenue bonds, used to finance a parking garage and road improvements.

http://cincinnati.bizjournals.com/cincinnati/stories/2010/01/25/story2.html

Store after store, center after center, mall after mall, city after city..........America is simply shutting down......

When Benny The B raised interest rates on borrowers, lowered interest rates on savers, and made it much harder to get a loan in an economy where he and Alan The G engineered into a credit dependent domestic consumption based economy......any Fool could figure out that America would simply shut down into a Concentric Contraction......well most Fools.

Look what is happening to very affluent Georgetown near Motley Fool's headquarters.....

Article: More Than 50 Georgetown Shops Fall Victim to Recession 

And as revenues decline......taxes and prices will be compelled to rise until few will be able to afford anything.........

South Central Connecticut Regional Water Authority - Customer to see 9%  Water Bill Increase

None of this was hard to see.....and you knew it would happen in 9.09.......feel it by 11.10.9.....and accelerate rapidly after 1.01.10......

As Benny the B told you the recession was over?????????????????????????????

You wonder if they teach basic math principles at Princeton...........

5 Comments – Post Your Own

#1) On January 23, 2010 at 12:26 PM, alstry (35.76) wrote:

The BIG problem will arise when revenues to government become so low that the fiscal soverignty of our nation is called into question.....

At that point, what will government be forced to take from its citizens when government needs money and its citizens are not paying enough to support government.

The interesting part is that this has NEVER been an issue in
America before.....even during The Great Depression when government was running a surplus.

If you don't think this is going an issue going forward....you are not thinking.

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#2) On January 23, 2010 at 1:20 PM, alstry (35.76) wrote:

IT IS NOT JUST ALSTRY ANYMORE.......

Rep. Ron Paul warns that if the country continues along the course it is on, we will witness a three stage slide into social and political chaos, beginning with the current financial crisis, a coming dollar crisis, and culminating in mass unrest.

“We are rapidly moving toward a dangerous time in our history. Society as we know it is vulnerable to political and social unrest. This impending crisis comes as a consequence of our flawed foreign and domestic economic policies, a silly notion of money, ignorance about central banking, ignoring the onerous power and mischief of out of control intelligence agencies, our unsustainable welfare state and a willingness to sacrifice privacy and civil liberties in an attempt to achieve safety and security from an inept government.”

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#3) On January 23, 2010 at 1:35 PM, topsecret10 (< 20) wrote:

#2) On January 23, 2010 at 1:20 PM, alstry (99.32) wrote   Rep. Ron Paul warns that if the country continues along the course it is on ,Society as we know it is vulnerable to political and social unrest................        I do not believe that we have seen the worse of this crisis. Real unemployment Is over 17%,and I do not see It getting better any time soon. We have shipped all of our manufacturing jobs overseas,and while companies are able to (abuse) cheap labor,It still really does not help their bottom line when nobody here In the United States has a job to be able to purchase their products or services. What kind of jobs do college graduates look forward too once they complete their degree? Everything that we used to manufacture has gone overseas. We are now a service based economy,and nothing more.    TS

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#4) On January 23, 2010 at 1:41 PM, topsecret10 (< 20) wrote:

North American Free Trade Agreement (NAFTA)   NAFTA promoters - including many of the world’s largest corporations - promised it would create hundreds of thousands of new high-wage U.S. jobs, raise living standards in the U.S., Mexico and Canada, improve environmental conditions and transform Mexico from a poor developing country into a booming new market for U.S. exports.  

Remarkably, many of NAFTA’s most passionate boosters in Congress and among economists never read the agreement. They made their pie-in-the-sky promises of NAFTA benefits based on trade theory and ideological prejudice for anything with the term “free trade” attached to it.

Now, over a decade later, the time for conjecture and promises is over: the data are in and they clearly show the damage NAFTA has wrought for millions of people in the U.S., Mexico and Canada. Thankfully, the failed NAFTA model - a watered down version of which is also contained in the World Trade Organization (WTO) - is merely one among many options.      http://www.citizen.org/trade/nafta/        ts    

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#5) On January 27, 2010 at 11:32 AM, LeverageSurfer (< 20) wrote:

Thanks for the Georgetown article.  That really hits home.  One sentence caught my eye:

While home real estate is holding its own in the neighborhood, the commercial side is in ruins. A number of store fronts are dark and empty.

How much longer do you think home real estate will "hold its own", when more and more store fronts go "dark and empty" and vandalized and turned into crack houses.

Really sad.

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