From the October 6, 2009 PBS “News Hour.”
One sees this every day. Storefronts on Park Avenue South where overpriced restaurants sat two years ago are empty with “For Rent” signs, something one never saw in such neighborhoods. Traditionally in NYC, property changes hands in private deals, never through the posting of rent signs. With 1% down payments, commercial real estate makes the subprime meltdown look outright responsible.
Duration : 0:5:53
[youtube 1VcyxmF89ns]
May 21st, 2010 at 12:25 am
We haven’t seen …
We haven’t seen anthing yet . . . it get’s far, far worse.
So much greed, so much excess, so much hubris . . . now it all hits the trashcan.
This is a DEPRESSION . . . and there is no recovery in realestate.
May 21st, 2010 at 12:25 am
I clean floors for …
I clean floors for a living and serve french fries in an Indian casino. I’M not smart. In 2007 I was aware that the economy was collapsing. and these people didn’t know, to the tune of 7 billion? How can this be?
May 21st, 2010 at 12:25 am
@hurchel
But …
@hurchel
But ron paul needs to announce to save the united states of america.
May 21st, 2010 at 12:25 am
I would have last …
I would have last time if he hadn’t quit..
May 21st, 2010 at 12:25 am
@hurchel
and …
@hurchel
and nobama is just as bad too, the two party system are two wings of the same bird
Vote Ron Paul in 2012.
May 21st, 2010 at 12:25 am
WAKE UP
Saddam …
WAKE UP
Saddam Hussein
Barack Hussein Obama
Osama Bin Laden
Joe Biden
Its a Game. A Spiritual Game…
Either win and go to the 4th dimension where it is Service to Others (STO) or…
Lose and stay in the 3rd Dimension of Service to Self (STS)…
You need to Cross The River….
May 21st, 2010 at 12:25 am
So what would you …
So what would you say is next in line for us?
May 21st, 2010 at 12:25 am
@LordoftheKaty
…
@LordoftheKaty
I said this was going to happen
IN 2007
and Gerald is a friend of mine
May 21st, 2010 at 12:25 am
I KNEW THIS WOULD …
I KNEW THIS WOULD HAPPEN
and I said it would happen
and its GOING TO GET ALOT WORSE
and I am happy about it
YOU RICH that never cared about anyone BUT YOURSELVES
and now YOUR BABLYON IS FALLING
ITS GREAT JESUS IS THE LORD
May 21st, 2010 at 12:25 am
I thought this last …
I thought this last year when thousands of us got laid-off from my company. No jobs equals no revenue.
May 21st, 2010 at 12:25 am
Either wall street …
Either wall street dosent understand that without jobs people can’t buy things and is purly focused on the short term benefits of laying people off. Or they know that there crashing the system and they have some grand plan of mass economic destuction we are just not privy to. Come on people, you can’t keeping buying that the people who own and run america are idiots that don’t know what there doing. There causing unimployment and system crash on purpose. There evil and it’s obvious.
May 21st, 2010 at 12:25 am
Bush defrauded …
Bush defrauded america, and until he is prosecuted his whole group, the US is suiciding itself. we can’t stand what our government is doing
May 21st, 2010 at 12:25 am
Tough? lol
WE can …
Tough? lol
WE can buy cheap for once
May 21st, 2010 at 12:25 am
So Gerald Celente …
So Gerald Celente was right! There was a commercial realestate collapse in 2009!
May 21st, 2010 at 12:25 am
Greed from top to …
Greed from top to bottom.
May 21st, 2010 at 12:25 am
Terrorists, …
Terrorists,bush.chinese with 2.3 trillion dollars in Treasury securities
May 21st, 2010 at 12:25 am
The shareholders of …
The shareholders of the federal reserve and the ECB
May 21st, 2010 at 12:25 am
Who brought America …
Who brought America down to its knees? Iraq and Afghanistan? Terrorists? Bush? Who is the main culprit?
May 21st, 2010 at 12:25 am
For some mysterious …
For some mysterious reason, the PBS News Hour (McNeil-Lehrer News Hour when I was growing up) has a very good economics reporter , one of the better ones on TV. Go figure.
May 21st, 2010 at 12:25 am
Excellent piece by …
Excellent piece by the News Hour. Thanks for posting this Marcus.