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alstry (36.32)

It is ALL starting to HIT THE FAN!!!!!

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April 21, 2009 – Comments (13)

COMMERCIAL RE

RETAIL

NEW YORK (CNNMoney.com) -- Strip malls, neighborhood centers and regional malls are losing stores at the fastest pace in at least a decade, as a spending slump forces retailers to trim down to stay afloat, according to a real estate industry report.

The consequence for consumers: Fewer stores to shop and less product choice.

In just the first quarter of 2009, retail tenants at these centers have vacated 8.7 million square feet of commercial space, according to the latest report from New York-based real estate research firm Reis.

That number exceeds the 8.6 million square feet of retail space that was vacated in all of 2008.

OFFICE

U.S. employers fired more than 650,000 workers during each of the past four months, pushing the unemployment rate to 8.5 percent in March, the highest since 1983, according to the Labor Department. The first-quarter vacancy rate was the highest since the first three months of 2006, when it was 12.6 percent.

“This will be a very difficult year for commercial real estate and for office markets in particular,” said Maria Sicola, executive managing director and head of Americas Research for Cushman & Wakefield, in a telephone interview.

CREDIT CARDS

We expect further increases in U.S. card charge off rate through 2009 as the economy continues to weaken. It is likely that will our U.S. card charge off rate will increase at a faster pace than the broader economy as a result of the denominator effect and our implementation of OCC minimum payment requirements ... We expect monthly U.S. card charge off rates to cross 10% in the next couple of months.

PRIME RESIDENTIAL MORTGAGES

The tables show that the number of prime 60 days+ delinquent rose to 743,686 in January, from 497,131 in December. This is an increase from 1.93% in December to 2.89% in January.

Info gleaned from CalRisk and Mish's Blog.

13 Comments – Post Your Own

#1) On April 21, 2009 at 8:13 PM, dwot (45.74) wrote:

Lol, I just did a post same topic...

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#2) On April 21, 2009 at 8:21 PM, whereaminow (< 20) wrote:

"Every month that we do not have an economic stimulus package, five hundred million Americans lose their jobs." - Nancy Pelosi

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#3) On April 21, 2009 at 8:29 PM, alstry (36.32) wrote:

DWOT,

Just to add something since it seems we swim in similar waters.

IS JAPAN CURRENTLY IN A DEPRESSION?????????

Japan's imports fall almost 37% in March vs. year ago

Japan's exports fall almost 46% in March vs. year ago

Remember, a Depression is a 10% decline in GDP and Japan is an EXPORT based nation.

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#4) On April 21, 2009 at 8:56 PM, alstry (36.32) wrote:

UN FUing BELIEVABLE

Here is the headline from Bloomberg.......

Japan Exports Fall at Slower Pace, Indicating Slump Is Easing

Here is the first three paragraphs.......

April 22 (Bloomberg) -- Japan’s exports fell at a slower pace in March, ending a four-month streak of record drops and adding to signs the recession may start to ease.

Overseas shipments slumped 45.6 percent from a year earlier, compared with February’s unprecedented 49.4 percent plunge, the Finance Ministry said today in Tokyo. Economists predicted exports would drop 46.4 percent.

“It’s nothing to celebrate, but at least exports stopped going down,” said David Cohen, director of Asian economic forecasting in Singapore. “Leveling off is a first step towards improvement.”

at least exports stopped going down???????   Who the F*%K do you think you are kidding Mr. Cohen????????

EXPORTS WERE DOWN ABOUT 46% IN MARCH!!!!!!!!!!!!!!!!

THEY WERE DOWN ALMOST 50% IN FEBRUARY!!!!!!!!

FOR AN EXPORT ECONOMY.....YOU ARE GOING TO HAVE TO RELEASE A HUGE PERCENTAGE OF YOUR  WORKFORCE WITH THOSE KINDS OF DECLINES MONTH AFTER MONTH!!!!!!!!!!

Is it just Alstry...or has Atlas Shrugged?????

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#5) On April 21, 2009 at 9:32 PM, tfirst (25.42) wrote:

The big picture I see is a couple hundred billionaires that control most EVERYTHING, being protected from their own screw ups that were caused by their operating to the limits of the law and sometimes way over the law. These people need to fail and be washed out of the system. Taxing this, or not taxing that, is not the tool to use for regulation. Taxes are for raising funds for government to operate in the benefit of the overall population, not to protect fraudulent business people from defaulting on their debts. The big LIE that EVERYONE will suffer if the leading banks or corporations fail is just that, a LIE. Those with the most, will suffer the most. Last I looked, we have a large failing middle class. Which means they pay thier bills, have money to eat on, and that's it. Go ahead and skim some more from them to where they can't pay their bills any more. I dare you!

 These banks are still failing and are going to fail. As for unemployment, the people, when they get hungry enough, will get out and beat the bushes finding new or different ways to survive. As long as these old crooks can keep their ill gotten gains and not lose their wealth, the capital necessary for the productive people to build real wealth can't happen. When the common folks get hungrier and hungrier, they will do what they need to do to survive.

So, sooner or later these people that control most everything will have to make good on their misdeeds. I hope now they realize they will lose some, or most, of their wealth. My question to you hundreds of billionaires is this. Are you going to do the right thing and get out of the way of the productive people who want produce? Are you going to pay your debts and give up your high paying fraudulent jobs? Or are you going to hold on to it as long as you can, until the really hungry show up on your doorstep with torches and pitchforks?

I'm hearing a lot of grumbling bellies lately. The government can't protect you much longer...

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#6) On April 21, 2009 at 9:43 PM, zversyp (< 20) wrote:

LMAO!!!

Where did you find that quote, whereaminow?

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#7) On April 21, 2009 at 9:46 PM, alstry (36.32) wrote:

At least MarketWatch has some integrity tonight....

HONG KONG (MarketWatch) -- Japan's trade surplus shriveled by 99% in March from the year-earlier month as exports tumbled even more rapidly than the sharp decline in imports, official data showed Wednesday.

vs.

(Bloomberg) Japan Exports Fall at Slower Pace, Indicating Slump Is Easing

Pretty amazing comparison on the same data....now start applying this to other news events that are no so easy to mathematically quantify.....

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#8) On April 21, 2009 at 9:54 PM, whereaminow (< 20) wrote:

zversyp,

Type that exact quote into YouTube and prepare to be dazzled by Mrs. Pelosi's tremendous insight.

David in Qatar 

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#9) On April 21, 2009 at 10:09 PM, alstry (36.32) wrote:

David.....

Between Dems and Republicans........who drops the bomb first???

"We like war! We're a warlike people! We like war because we're good at it! And it's a good thing we are, we're not very good at anything else anymore. Can't build a decent car. Can't make a TV set or a VCR. Got no steel industry left. Can't educate our young people. Can't get health care to our old people. But we can bomb the shit out of your country alright!" 
 
- George Carlin

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#10) On April 21, 2009 at 10:56 PM, whereaminow (< 20) wrote:

LMAO that's awesome. Carlin was always a favorite (I wonder why), and from what hear he was a great dude off the set.

Uh, to answer your question, I have no idea but I do know this: Government is only good at exterminating other humans and landscaping, and I'd appreciate it if they stuck to the latter.

David in Qatar

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#11) On April 21, 2009 at 11:14 PM, alstry (36.32) wrote:

NOW THIS IS GENIUS!!!!!!!!!!!!!!!!!!!!!!!!!

LOS ANGELES (MarketWatch) -- The Ministry of Finance on Wednesday downgraded its overall assessment of Japan's regional economies for the fifth straight quarter, saying that conditions worsened steadily in the January-March period, the Nikkei reported. The downgrade came after the heads of MOF's 11 local finance bureaus met earlier in the day to report on conditions in their regions, the report said. The ministry lowered its assessment of 10 regions, with only Hokuriku avoiding a downgrade, it said.

JAPAN'S ECONOMY IS NOT WORSENING....WITH EXPORTS DOWN AROUND 50% AND IMPORTS NOT FAR BEHIND.....JAPAN'S ECONOMY IS IMPLODING!!!!!!!!

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#12) On April 22, 2009 at 1:20 AM, awallejr (77.67) wrote:

Quoting Carlin always gains "points" from me.

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#13) On April 22, 2009 at 1:23 AM, awallejr (77.67) wrote:

P.S., a Carlin clip always gets a rec from me

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