[VanMorrisonFan]

Today’s NY Times had an interesting article on Goldman Sachs. They were actually pretty shrewd in that they got out of the way, while Merrill Lynch, Citicorp, etc., did not. Goldman Sachs was getting out of the mortage-backed-securities business a while back and hedging the few investments they kept. As a result they do not believe they will have ANY losses on their MBS portfolio.

Gotta hand it to Goldman Sachs…they saved their shareholders some grief.

[VanMorrisonFan]

Today’s NY Times had an interesting article on Goldman Sachs. They were actually pretty shrewd in that they got out of the way, while Merrill Lynch, Citicorp, etc., did not. Goldman Sachs was getting out of the mortage-backed-securities business a while back and hedging the few investments they kept. As a result they do not believe they will have ANY losses on their MBS portfolio.

Gotta hand it to Goldman Sachs…they saved their shareholders some grief.

[VanMorrisonFan]

Today’s NY Times had an interesting article on Goldman Sachs. They were actually pretty shrewd in that they got out of the way, while Merrill Lynch, Citicorp, etc., did not. Goldman Sachs was getting out of the mortage-backed-securities business a while back and hedging the few investments they kept. As a result they do not believe they will have ANY losses on their MBS portfolio.

Gotta hand it to Goldman Sachs…they saved their shareholders some grief.

[VanMorrisonFan]

Today’s NY Times had an interesting article on Goldman Sachs. They were actually pretty shrewd in that they got out of the way, while Merrill Lynch, Citicorp, etc., did not. Goldman Sachs was getting out of the mortage-backed-securities business a while back and hedging the few investments they kept. As a result they do not believe they will have ANY losses on their MBS portfolio.

Gotta hand it to Goldman Sachs…they saved their shareholders some grief.

[VanMorrisonFan]

Today’s NY Times had an interesting article on Goldman Sachs. They were actually pretty shrewd in that they got out of the way, while Merrill Lynch, Citicorp, etc., did not. Goldman Sachs was getting out of the mortage-backed-securities business a while back and hedging the few investments they kept. As a result they do not believe they will have ANY losses on their MBS portfolio.

Gotta hand it to Goldman Sachs…they saved their shareholders some grief.

[VanMorrisonFan]

The last few years in Southern California have felt unreal to me, especially the closer one gets to the coast. It seems as though the malls are full, the BMW’s are new, and the money is flowing like water in a rainy climate.

I doubt we will have a recession, but even “normal” economic growth and consumer spending will seem like a slowdown to those parts of the country that have been appreciating like crazy the last few years. Technically, a recession is at least two consecutive quarters of negative economic performance (decline in GDP, I believe). By that standard I doubt we will have one, but it will feel like one to many people who have been living in unreality for a while.

[VanMorrisonFan]

The last few years in Southern California have felt unreal to me, especially the closer one gets to the coast. It seems as though the malls are full, the BMW’s are new, and the money is flowing like water in a rainy climate.

I doubt we will have a recession, but even “normal” economic growth and consumer spending will seem like a slowdown to those parts of the country that have been appreciating like crazy the last few years. Technically, a recession is at least two consecutive quarters of negative economic performance (decline in GDP, I believe). By that standard I doubt we will have one, but it will feel like one to many people who have been living in unreality for a while.

[VanMorrisonFan]

There are some signs of slow consumer spending…of course, some of it is directly related to home sales. I understand that Home Depot is having a rough patch, and Macy’s and Target have reported leaner-than-expected sales figures. The anecdotal evidence is generally positive – the malls I have been to recently have been crowded, but it’s hard to tell if people are buying things.

[VanMorrisonFan]

If the dollar truly does decline by 50% (quite a depressing scenario) it will be interesting to see the social and political effects of this. As everything becomes less affordable, and as we have to live with less, whom will we blame for our lower standard of living? Will political leaders have the courage to say, “If you want someone to blame, look in the mirror. We’ve overborrowed and overspent for years and years…now it’s time to reap what we have sewn.”

I suspect that the hunt will be on for a great scapegoat – someone else to blame for the new austerity. I have no answer…but it will be interesting to see the answer.

[VanMorrisonFan]

I really like the use of the word “forced” in the article title. It makes it sound like the people had no choice…they just had to get into that business.

What would people think of this headline…

“Wife’s relentness nagging forces husband to hit her?”

[VanMorrisonFan]

Consider quality of life…

Downtown San Diego is a paradise compared to Downtown LA. San Diego is right on the ocean. You can stand in the Gas Lamp District and smell the salt of the ocean air. I have done it. Downtown SD has movie theaters, great restaurants, Horton Plaza, Border’s Books, a Ralph’s Supermarket, and a lot of other neat things. It’s a great place to walk around – or at least much better than Downtown LA. Traffic is bad, but not nearly as bad as Downtown LA. If I had to live in a downtown, San Diego would be way higher on my list than Downtown LA.

Downtown LA is a hell-hole of a place. High-rise and concrete hell, and there is no other way to say it. On hot summer days the ocean may as well be 100 miles away, the smog is unbearable, and there are almost no amenities to speak of. The high rises block out almost any breeze, and all the asphalt and concrete reflects the heat back up. They are just now getting a supermarket. It’s no accident that both the men’s and women’s jails are in Downtown LA. It’s an excellent deterent to crime because the only thing criminals fear more than being in jail is being in a jail in Downtown LA.

[VanMorrisonFan]

I work for a company that does a lot of business with builders. I spoke with a guy who has a lot of day-to-day contact with builders and he told me flat out, “These guys who build homes are in total denial. It’s sad. I talk to them all the time and I tell them, things are only going to get worse before they get better. Drop the prices and clear out the inventory. But they don’t want to do it.”

[VanMorrisonFan]

I work for a company that does a lot of business with builders. I spoke with a guy who has a lot of day-to-day contact with builders and he told me flat out, “These guys who build homes are in total denial. It’s sad. I talk to them all the time and I tell them, things are only going to get worse before they get better. Drop the prices and clear out the inventory. But they don’t want to do it.”

[VanMorrisonFan]

I work for a company that does a lot of business with builders. I spoke with a guy who has a lot of day-to-day contact with builders and he told me flat out, “These guys who build homes are in total denial. It’s sad. I talk to them all the time and I tell them, things are only going to get worse before they get better. Drop the prices and clear out the inventory. But they don’t want to do it.”

[VanMorrisonFan]

For crying out loud, Downtown LA doesn´t even have ONE supermarket yet. It supposed to get one this summer…supposed to, I have heard. Why would anyone live in a place without even a supermarket? It makes no sense at all to me..to say nothing of other conveniences.

I live near the corner of Lake Ave. and Del Mar in Pasadena, short Gold Line ride from Downtown LA. From the front door of my apt. I can be at movie theaters, drugstores, supermarkets, restaurants, bookstores, etc., all in ten minutes or less…AND I feel perfectly safe walking the streets. HELLO! Does anyone in Downtown LA feel safe walking the streets much past 6:00 PM?

[Author]

Posts