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alstry (35.33)

What has value in a world of fraud....real estate is worth LESS than worthless

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October 21, 2010 – Comments (4)

I told you three years ago that real estate would be worthless if we maintained Zombulation.....

Right now in Michigan, you can get FREE land....AND tax abatements if you simply agree to start a business.  That means for the private person....land is worthless, actually LESS than worthless because he can't offer tax abatements.

My guess is this will spread to housing as municipalities will give away housing they have acquired as long as you are willing to maintain it and pay property taxes.  And if the municipality is willing to give a break on property taxes just to get cash flow.....for the private citizen trying to sell his home in such an environment, houses will be worth LESS than worthless.

It appears that we are well on our way for Real Estate becoming worth LESS than worthless.

Expect stocks and bonds to head down that same path at some point..either relatively or absolutely..the primary issue  is when, as right now, the only reason why the system functions is due to banks lending public companies and government money that really doesn't exist......WHILE cutting off credit to the private sector at the same time........at what point will the bridge collapse?

it is the combination destroying the private sector and supporting the public sector that establishes Zombulation....and because most of America currently functions in the private sector....as the private sector continues to shut down from the Zombulation effects....the people will eventually react and the way we value things will change dramatically.

We remained silent when we exhanged liberty for perceived security with the passage of the Patriot Act....the irony is few of our elected officials have even read it.....

We remained silent when government allowed banks to apply Enron type fraudulent accounting essentially exchanging Freedom/Democracy for Fascism simply so we could maintain our perception of wealth....

In life, in order to maintain private property and the rights attendent with such a system....you must maintain responsibility for the property and the system, or inevitably it detetiorates and collapses.

Trying to sell financial advice in a fraudulent system is like a broker trying to sell Enron shares based on consistent earnings growth.....all is fine until the fraud is revealed.  I am still amazed how we threw away a system that took hundreds of years to build....and for what?.....for peception....when it was so easy to see everything around us was shutting down......

Too Big to Fail?......Bail Out Wall Street and NOT Mainstreet?......give insolvent bankers billions in bonuses and kick out insolvent citizens from their homes?....so few said anything......

and now otherwise insolvent cities, counties and states are seizing the property of the insolvent citizens they represent while those doing the seizing are only getting a paycheck because their employer can borrow and the citizens employer can't?

SHAME ON ALL OF US....especially the lawyers who should have known better...the politicans and bankers by their nature are greedy liars anyway...as it is now clear that most real estate in America will be worth LESS than worthless.....

 

4 Comments – Post Your Own

#1) On October 21, 2010 at 1:23 PM, alstry (35.33) wrote:

The numbers will keep getting bigger and BIGGER......

Xerox - 2,500

Nokia - 1,800

Update: Los Angeles Unified School District - 1,000

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#2) On October 21, 2010 at 1:40 PM, mtf00l (45.13) wrote:

"Right now in Michigan, you can get FREE land....AND tax abatements if you simply agree to start a business."

What business are you starting in Michigan?!

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#3) On October 21, 2010 at 2:20 PM, TMFCrocoStimpy (95.92) wrote:

 

 

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#4) On October 21, 2010 at 3:00 PM, alstry (35.33) wrote:

It is only doom for Motley Fool and traditional thinkers......

there will be a new system....there always is.....just not the crap most Motley Fool employees are selling.....

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