rmptr
Silver Member
Foreclosure & Economy
Recently I was taken to task for supposedly doing little more than spreading gloom & doom.
That's never been my intent. There's no percentage in that!
It never pays to wallow in misery.
I call it as I see it, and am not bashful about spreading information.
If people have proper information, they make better choices.
They have a better life. We all benefit.
Here is a foreclosure in Kalifornia.
Obviously a distressed property.
It's actually far worse than what you see, in my professional opinion.
Someone actually bought it!
They paid 4 times what I feel is it's actual value.
Why?
If they knew what I do, about our economic situation, why would they do such a thing?
Perhaps they are oblivious to what is really going on?
Here is information I've found today. I feel it's an indicator of how things shall be for at least some period of time. I hope all of you can benefit somehow, from this information.
I see no evidence of economic recovery.
This is from George Ure at www.urbansurvival.com
In April, the Port of Tacoma up in Washington took in 17.9% less foreign containers than landed in the same period a year ago.
If you want evidence of why there's no recovery, you don't have to look very far to find it.
Similarly, the Port of Los Angeles reports being down 15% on the loaded inbound sheet.
Even worse? Over at Long Beach the year-on-year decline is 22.9%.
True, while the Baltic Dry Index closed over 2300 for the first time since October 10 of last year, the BDI is not a wholly accurate way to read foreign trade. What matters is what's going on at America's West Coast Ports. And, by the look of things now, I'd say there's not nearly as much action as usual, despite recovery happy talk.
And Bill Bonner contributes...
So how are the teamsters doing?
If you’re hoping to hear that the downturn is ending, don’t ask questions at a truck stop. In the first quarter of this year, 480 trucking companies went out of business. Last year, the total was 3,000 companies…representing 7% of all the nation’s trucks. The more the economy contracts, the more trucks get run off the highway. Eventually, the number of trucks still on the roads is sufficient, but not excessive, for the volume of goods they have to move. Until that happens, the slump continues!
This is not just another recessionary pause, in other words. This is a depression. And depressions bring changes, not just a rest. The trucking industry needs to adjust to the new levels of consumer spending. That means fewer big rigs on the road.
It's my hope you are able to review the information I've presented and apply it judiciously as you make your own decisions regarding safety and prosperity of your family.
Best
rmptr
Recently I was taken to task for supposedly doing little more than spreading gloom & doom.
That's never been my intent. There's no percentage in that!
It never pays to wallow in misery.
I call it as I see it, and am not bashful about spreading information.
If people have proper information, they make better choices.
They have a better life. We all benefit.
Here is a foreclosure in Kalifornia.
Obviously a distressed property.
It's actually far worse than what you see, in my professional opinion.
Someone actually bought it!
They paid 4 times what I feel is it's actual value.
Why?
If they knew what I do, about our economic situation, why would they do such a thing?
Perhaps they are oblivious to what is really going on?
Here is information I've found today. I feel it's an indicator of how things shall be for at least some period of time. I hope all of you can benefit somehow, from this information.
I see no evidence of economic recovery.
This is from George Ure at www.urbansurvival.com
In April, the Port of Tacoma up in Washington took in 17.9% less foreign containers than landed in the same period a year ago.
If you want evidence of why there's no recovery, you don't have to look very far to find it.
Similarly, the Port of Los Angeles reports being down 15% on the loaded inbound sheet.
Even worse? Over at Long Beach the year-on-year decline is 22.9%.
True, while the Baltic Dry Index closed over 2300 for the first time since October 10 of last year, the BDI is not a wholly accurate way to read foreign trade. What matters is what's going on at America's West Coast Ports. And, by the look of things now, I'd say there's not nearly as much action as usual, despite recovery happy talk.
And Bill Bonner contributes...
So how are the teamsters doing?
If you’re hoping to hear that the downturn is ending, don’t ask questions at a truck stop. In the first quarter of this year, 480 trucking companies went out of business. Last year, the total was 3,000 companies…representing 7% of all the nation’s trucks. The more the economy contracts, the more trucks get run off the highway. Eventually, the number of trucks still on the roads is sufficient, but not excessive, for the volume of goods they have to move. Until that happens, the slump continues!
This is not just another recessionary pause, in other words. This is a depression. And depressions bring changes, not just a rest. The trucking industry needs to adjust to the new levels of consumer spending. That means fewer big rigs on the road.
It's my hope you are able to review the information I've presented and apply it judiciously as you make your own decisions regarding safety and prosperity of your family.
Best
rmptr
