Posted by Kenneth Hocking on September 29, 2008 at 06:05:50:
James if you really want to pick up speed… Watch what the world is doing CNBCASIA DOT COM . Europe just nationalized Biggest Non UK or French Bank FORTIS.
I am very concerned about the Economy in your Market… Industry does very very poorly in Recessions even worse than you have seen so far cause if small business credit ends how do the business make payroll there were no conditions in the 25 Billion loan to the big three striking out that the Big Three Must spend the loans on Jobs and Plants based only in the US. Nope the Big three can use it to support there Business However they choose. So the Guarateed support of the Industrial Areas of the US where not Guarateed by the Loan just assumed… They kinda flew that one under the radar while we were all focused on the 700 Billion while they passed a 634 Billion “spending” bill… yep just watch the right hand not the left said the fortune teller.
This is very real and very scary we are watching Free market capitalism be served up on a socialist platter for the great good of all???
They only way to solve this is left the Armageddon come and the chips fall were they may… if not we have signed up to be socialists to protect our own arses… and most have already made that choice.
But when financial transaction in many countries were 2-3 times REAL GDP then it is not much different then the number of 500K condos in Miami that really supports 180k condos for those that live there. lots of pain still to come… ALl of the world economy is over leveradged.
Ed and Terry’s Training on working with Small Bank has opened a great number of relationships for me and these will help in the days to come…
This sucks and is likely to get much worse before better… you values are not as much at Risk in Michigan as the propect that Small businesses that Managed to survive may not have the Credit lifeblood they need to even out the seasons… should be an interesting winter
