davelj
It’s not my statement but hows a bout we change it to:
In many/most cases, either way unprecedented, many forms of debt can no longer be sold as an asset for more than a fraction of the previous determined value of said asset, to the extent that the event is historical?
Happy?
You are not saying anything everyone here does not already know, people have a filter that enables them to look at a statement and perceive the most logical intent of the statement maker. In this case I don’t think so many people see it the way you do.
Sd Realtor.
Well said. Believe it or not I don’t disagree with you so much. I’m in between the “defensible land” and “things will be fine” folks, leaning toward things will be worse than 80% of the population can imagine today. But I look at Japan and in most people’s eyes that’s a 20 year complete train wreck, but not Mad Max by any means either.
Temecula being the exception. It’s gonna be the Detroit of CA and is already showing signs. I am already afraid to walk around the new mall without escort (plus it smells funny). New homes are bulldozed, entire new condo complexes are now weed farms with nasty broken chain link gates blocking entry. Schools are closing and MS13 is looking into making an offer to occupy and open a strip club. Beautiful Orange groves are now mowed down stumps or paved over abandoned dreams of more stucco palaces, eerie, surreal places with streets, yards plotted and two foot high block walls, ghostly empty.
RE I think will be the biggest shocker to JSP psyche. And you are right, gloomer news is much easier to find and post about.
