[Rhodes22-list] Politics: Upping the Ante

Wed Dec 24 17:14:48 EST 2008

Brad,

Glad you're home safe and sound.

My view of the future is not as rosy as yours.

The Chinese can't afford to call in their markers, and they know it.  
They also know they will need new markets to sell into, because, no 
matter how you slice it, we won't ever be able to sustain the level of 
imports vs. exports in the future we papered over in the past.

They are also smart enough to know what happened to the Saudis and 
Japanese when they started buying swampland in Florida and skyscrapers 
in NY.  That strategy goes nowhere.

Everyone outside the high-density housing markets knew what was going on 
with high density tract homes on almost worthless rural land.  Now there 
are no jobs, no services, no governments, no schools, and no interest in 
ever again living in those homes.  All that wealth will one day be 
bulldozed into the ground.  The sooner the better.

And, how about that Ray LaHood appointment as Secretary of the Pork 
Barrel?  I never realized he was an Arab.

Talk about the foxes guarding the hen house...

Bill Effros

Brad Haslett wrote:
> Bill,
>
> First, some personal notes:  dragging ass after a grueling early
> morning six hour drive, the last hour into Memphis was extremely heavy
> rain - time for a nap.  Gulfport is not short of bars and I made the
> rounds to catch-up on old friends.  The bar business is down.  The
> working men aren't working but the usual suspects were there - retired
> military, retired municipal workers, folks drawing disability (lots of
> them around), and just plain retired.  Nothing against those people
> (except the "disabled" who ask me for part time work) but you're not
> going build a vibrant work force and an economy with that crowd. Our
> client "found" some more money after I explained to him that I
> understood his cash flow issues, I just needed to stop by the
> courthouse on the way out of town and file a lien, nothing personal,
> just business.  Everyone is trying to "lean-on-the-trade".  I learned
> that game 30 years ago with New York based clothing manufacturers with
> plants located in Arkansas before everything was shipped to China.
> Homie don't play!
>
> Obama's alligator mouth promised more than his sparrow ass can
> deliver.  Bush 43 was a profligate spender and Obama's plan to
> double-down on spending won't work.  The Chinese aren't interested in
> loaning more money.  The best we can hope for is that they don't call
> in their markers.  He may  very well crank-up the printing presses and
> we know where that leads.  The basic problem here is that real estate
> went through a government sponsored bubble and until the excess is
> sucked-up, few markets will recover.  Asian investors are buying, cash
> laden investors are buying, lots of energy in the real estate
> marketplace is sucking-up the excess inventory but Congress feels they
> need to bailout "the little guy speculator".  People are starting to
> fall behind in payments just so they'll qualify for 'gubment' dictated
> re-financing. The building we tore down this week should have come
> down three years ago but the owners (pretty wealthy) didn't want to be
> the dumb asses that missed out on some 'gubment' program.  Markets
> work but they take time.  The One knows nothing about markets, he's
> never participated in one himself.  What he has done is steer tens of
> millions of dollars to friends in housing projects that were
> eventually condemned or taken over by the 'gubment'.
>
> I don't see anyway around a major government crisis.  Fitz has the
> goods on The One.  Maybe if they just say "forgetaboutit" with Blago
> they can spare The One but their crimes are the same.  The NYT's will
> either save themselves by putting down the crack pipe and the Kool-Aid
> and acting like a newspaper or they'll go bankrupt - which is my bet.
>
> Back to personal stuff: my retirement is waaaay off in the future and
> off schedule.  My boys both have strong backs and good work ethic -
> they'll need both.  This ain't gonna be our father's economy.
>
> Brad
>
>
>
> On Wed, Dec 24, 2008 at 8:22 AM, Bill Effros <bill at effros.com> wrote:
>   
>> Brad,
>>
>> Did you see Buchanan's line:
>> Oear old hangs on to believing in Santa Claus because the
>>     
>>> alternative is just too painful.  Most of the MSM is near bankruptcy,
>>> and soon enough they'll realize that short of a bailout, actually
>>> printing news and doing investigation sells. I'm trying to find the
>>> happy ending to this scenario but don't see it quite yet.  Barry is
>>> already severely crippled and folks are waking-up.  I'm betting this
>>> drags on until 2010 and so does the lackluster economy.  How's that
>>> for Christmas cheer?
>>>
>>> Brad
>>>
>>> On Tue, Dec 23, 2008 at 9:23 AM, Bill Effros <bill at effros.com> wrote:
>>>
>>>       
>>>> Brad-Iloveit!Weshouldsendallmessagesthisway--it'slikeusingthesecretdecoderringallthetime--onlyMJMwillbeabletounderstandwhatwehavetosay,andmaybeRummy.MerryChristmas.BillEffross/vLittleQueenie
>>>>
>>>> Brad Haslett wrote:
>>>>
>>>>         
>>>>> Bill,stuckatcorporateheadquarterswithabadspacekeyonthekeyboard-maybespilledbeer-willgetnewkeyboardandrespondlater-blagotookplay-to-paytothenextlevel-thegreatOcan'thidepastdeeds-nowinsituationforeveryone-wegetBiden-countrycontinuestolisteconomically-gottogocollectsomemony-timesarehardandmoneytight-somyclientstellme-homeydon'tplaythatgame-customerwaiteduntilwemobilizedtotellushiscashflowproblems-itmaybeChristmasbutI'mnotinChristmasmood-lateifIdon'tgetshot!
>>>>>
>>>>> Brad
>>>>>
>>>>> On Tue, Dec 23, 2008 at 7:59 AM, Bill Effros <bill at effros.com> wrote:
>>>>>
>>>>>
>>>>>           
>>>>>> Brad,
>>>>>>
>>>>>> It just got a little tougher for Obama to fire Fitz.
>>>>>>
>>>>>> Fitz let Obama know who "in the administration" he taped, but he didn't
>>>>>> let Obama know what they said.
>>>>>>
>>>>>> So the whole country will learn some of the people Fitz is investigating
>>>>>> are part of "Team Obama".
>>>>>>
>>>>>> There is an obvious conflict of interest if you try to fire someone who
>>>>>> is investigating you.  Ask Nixon.
>>>>>>
>>>>>> Please note, Blagojevich was part of "Team Obama" until just a few weeks
>>>>>> ago.
>>>>>>
>>>>>> Let me ask the question again..."Why did Obama resign his Senate seat
>>>>>> early?"
>>>>>>
>>>>>> (Background: this is not "traditional" -- Hillary did not resign her
>>>>>> seat; Biden did not resign his seat; Rahm Emanuel did not resign his
>>>>>> seat; etc.  Their votes were needed for the "lame duck" session--in
>>>>>> fact, the automaker "bail out bill" might have passed if Obama hadn't
>>>>>> thrown away his vote.  The ONLY beneficiary of an early resignation was
>>>>>> Governor Rod Blogojevich, who could no longer barter the seat according
>>>>>> to Illinois law after 1/1/09.  So Obama threw him a bone.)
>>>>>>
>>>>>> Bill Effros
>>>>>>
>>>>>>
>>>>>>
>>>>>>
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>>>>>>
>>>>>>
>>>>>>
>>>>>>             
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>>>>>
>>>>>           
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