I couldn’t help but think of that scene when I saw this post. I think 2010 will either be somewhat of a blood bath or a lead up to it. My gut and the numbers tell me that we have long been living on borrowed time and money for a LONG time, and a correction should come sooner rather than later. But then my realistic side says that the PTB will do absolutely anything they can to keep the music playing.

I posted a few months back that this was 2005 all over again…in the sense that the fundamentals are telling us one thing and the PTB are telling us another. The employment situation will get much bleaker in 2010 – and watch for commercial real estate to go through a sub-prime-like crisis, with another obligatory bailout for the banks. I can’t make a move here in Carlsbad without seeing a “For Lease” sign outside some office building. Oh, and Carlsbad’s TOT revenues were down 20% in 2009. Not good.