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| Image from HuffPost |
I don't mean to bum you out, but what we're going through might just be foreshadowing to what you might see soon. I hope not. I've always been a glass-half-full kind of guy (despite the evidence presented on this here blog thingy). But I've also been a "hope for the best, expect the worst" kind of guy. So plan ahead folks. Tighten the belt, pull the lap bar down, hold on for the ride, and try not to fall out.
[Excerpt]
Nevada's Economic Misery May Be America's Future
So many homes in Las Vegas have been foreclosed upon that banks rarely bother to hang a "For Sale" sign on the front lawn anymore. Instead, visitors identify bank-owned properties by the brown grass and the 8.5 x 11-inch sheet of paper taped to the front door or the garage. . .
Read more at: Huffington Post
Thanks to Tracy for the story idea.
I don't think it will be as bad around the country as here. We just over built and now we have empty store fronts, houses and other buildings.
ReplyDeleteI don't see that happening around the country. We were just more greedy and more stupid than other parts of the country.
I dunno, Dan. It seems like nobody has a contingency plan in case something bad happens. When times are good, we seem to think it will always be so. When Vegas was booming, we just kept getting bigger and bigger, did you see some of the projects that were planned but shut down? Of course Echelon got stopped halfway through.
ReplyDeleteBut look at the car companies. When gas shot to $4.50, they were still building mostly big SUVs with terrible mileage. No wonder some of them needed bailouts and mergers. It's like that in a lot of industries (banking, Wall Street), all over the country. You have to wonder why CEOs get paid so much when they have zero ability to change direction when something changes.