Pension Funds Propping Up Worthless Homebuilders
Calpers investing over $1 Billion into LandSource only to go bankrupt a year later giving Lennar desperately needed cash and Calpers seeing its investment wiped out???? Private equity investing over $600 million into Standard Pacific yet company is worth much less after run up in homebuilders.....
Is it all one big Ponzi Scheme destroying well run private companies in America as public companies... no matter how poorly run or poor finanicial condition, seem to have an endless supply of capital.
Profit in America has evaporated by propping up companies like the above....and tax receipts are evaporating......and millions have lost jobs......AND ALL OF THIS WAS FORESEEABLE!!!!
IT IS SIMPLY THE OUTCOME OF A ZOMBULATION POLICY.....A POLICY DESIGNED TO DESTROY A TRADITIONAL CAPITALISTIC ECONOMY. When you only bail out worthless Wall Street companies and worthless Wall Street banks, and let the rest of the economy die....pretty soon you have no economy.
We are now in the third and final phase of Concentric Contraction...the government and health care crash. Do you Fools really think we can continue to borrow over $3 trillion dollars per year, between Wall Street and government, and not destory our economy?
You are about to find out what happens when you bail out worthless companies and let the well run fail....actually, if you have been reading this blog, you have been witnessing it in bits and pieces for the past couple years.
St. Joseph’s General Hospital - 30
Town of Morristown - 14
Monroe School District - At Least 22
The Princeville School- 4
City of Tampa - 16
The Payson Unified School District - 9
Knoxville School District - 11 Aides
Pretty soon, the layoffs will stabilize....as at that point, there will be very few to layoff.