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alstry (< 20)

Money Money Everywhere....Not a Drop to Spare



December 20, 2008 – Comments (7)

Sure the banks have lots of money being thrown at them......but everyone else.....get ready for the Hot and Juicy Holiday Injection.  Did you send your holdiday card to Bendover Benny.

I found this interesting from The Sacremento RE Blog with some excerpts from Craigslist:

The Fed lowers rates to zero, but people still can't find any money. Here's a few examples from craigslist:

LADIES PLATINUM ANNIVERSARY BAND - $1900: "Every girl loves to sparkle and this ring does! BEAUTIFUL ring that goes well with any engagement ring or alone... Asking $1900 but willing to negotiate so we have Christmas money."
1999 Dodge Ram 1500 Extended Cab Pick Up - $4000: "Need to sell quick for Christmas money."
3/4 kt. diamond ring in white gold. Unique band: "My soon to be ex-husband and I purchased this ring 5 years ago from Aquamarine Jewlers in Sacramento. I need to sell asap for Christmas money & to help being laid off."
Thomas Kincade - $200: "wanted to list before the weekend in hopes to sell for Christmas money."
Full sized Oxygen Acetelyn set with cart - $280: "Must sell for Christmas money. Tanks are about half full."
vita mix 5000 blender - $275: "just lost my job so i need extra christmas money asking 275. will accept any reasonable offer."
Buik Regal 83 coupe lowered price - $1200: "we got a n 83 buik regal that we have just dropped the price on it runs great looks great has crome spokes all the way around it... i am trying to collect some more christmas money for my kids."
2004 Ford F-250 - $7300: "Need money for Xmas and looking to downsize is reason for selling."
Air Jordan Spizike "OG Cement" - $150: "shoes do not smell... brand new these go for $250... i need money for xmas so please help a guy out..."

I know printing printing printing printing............just none for you unless you are a bank.  And if you are a bank.....we will pay you to take it.

Now get ready for a new hit song...."These Deeds are made for Walking" by Alstry and the Nomics.

Hoping to avoid drawn-out foreclosure proceedings, BayWalk owner Fred Bullard said Friday he is negotiating a deal to simply surrender the deed to the downtown entertainment complex and walk away.

Under the proposal, a bank would take control of the retail and restaurant portion of BayWalk and appoint a trustee to run the complex until a suitable buyer is found.

From CalculatedRisk....

Let me tell you....there are a bunch of these in the pipline.  I can't tell you how many commercial deals are failing and have still not hit the radar screen.....just yet.  I am helping negotiate a modest size deal right now and it is clear that I am not the only one at the party.

My guess is that over 100,000 small business located in shopping centers and commercial buildings will fail in 2009.

And some people are suggesting go buy gold?????  It may be a good suggestion..........but I am not sure people are going to have any money to buy it.


7 Comments – Post Your Own

#1) On December 20, 2008 at 11:42 AM, alstry (< 20) wrote:

My guess is that we will be hearing a lot of stories like the following in upcoming days and weeks......JUST DON"T READ BUT THINK!!!!!!

Think about the consequences to the thousands of individuals and lives that depended and benefitted from this fund.  Think about the economic contraction that will occur from the closing of this fund alone.  Now think about the others that will be affected and their spillover effect.

NEW YORK – One of the nation's leading educational philanthropies announced that it would close in the coming months, brought down by the alleged financial fraud orchestrated by Bernard Madoff.

Barbara Picower, who along with her husband, Jeffry, established the Picower Foundation in 1989, said in a statement on Friday that the foundation's grant-making would cease "effective immediately" and that it would "close its doors in the coming months."

She wrote in the statement that Madoff's "act of fraud has had a devastating impact on tens and thousands of lives as well as numerous philanthropic foundations and nonprofit organization."

Madoff is accused of swindling investors of $50 billion in a massive Ponzi scheme. He was ordered on Friday to remain in his Manhattan home under 24-hour surveillance and to hire security guards for protection.

The Picower Foundation has given millions to the Massachusetts Institute of Technology, Human Rights First and the New York Public Library. It also funded diabetes research at Harvard Medical School. It is based in Palm Beach, Fla., and has offices in New York.

The foundation, whose assets were managed by Madoff, said in its 2007 tax return its investment portfolio was valued at nearly $1 billion.

The foundation is by far one of the largest national philanthropic organizations to become mired in the financial mess created by Madoff's alleged scheme.

Demon, this is an excellent example of Velocity.

This fund had a billion dollars in the bank and spent it stimulating the economy all over the place.  When we print a billion and give it to a bank with interest to hoard has absolutely zero economic stimulative effect.

This is why so many are being misled by the "expert" pundits' growth and inflation nonsense.  You are much better off focusing on common cents and Alstrynomics.  If the banks ain't lending, the economy is crashing....plain and simple.

Wouldn't the nation and the ecomomy been better off giving the fund $1 Billion dollars versus a bank?

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#2) On December 20, 2008 at 12:02 PM, HansHauge (42.10) wrote:

Did you send your holdiday card to Bendover Benny


Yeah, this huge deflation now will be an even bigger inflation later. It's an inverse leverage type of reaction. The worse the deflation gets we're going to see at least 3x time the reversal.

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#3) On December 20, 2008 at 12:31 PM, BradAllenton (31.53) wrote:

Here are some numbers from the first depression. There was some heavy deflation for about 6yrs in and after. The only x-factor is that there was no printing press. The inflation/deflation question is a tough one. Both sides have merit. More than likely we will have a deflationary period followed by hyperinflation/stagflation. All the world will race to make their money the cheepest and that will push oil back up. Inflation will follow, but it will take a while.

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#4) On December 20, 2008 at 12:33 PM, alstry (< 20) wrote:


You are probably right.....the problem arises in trying to live through the deflation to make it to the inflation.  Many will economically die before they get to the inflection.

You know what they say, a dead lawyer is still a dead man no matter how much he argues to the contrary.


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#5) On December 20, 2008 at 7:46 PM, iamamartin (96.95) wrote:

water water everywhere and not a drop to drink,

water water everywhere and still the boards did shrink...

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#6) On December 20, 2008 at 9:02 PM, nuf2bdangrus (< 20) wrote:

We're seeing lots of retirees sell off all of the rolls of state quarters they were buying.  thousands of dollars of them!

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#7) On December 21, 2008 at 9:46 PM, Mary953 (83.45) wrote:

You mean turning in those $10 rolls of quarters that they collected over the last decade to get the entire series - that kind of state quarter collections turned in for face value?? That's just sad.

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