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Hiding Bear

B4 The Bell, Thursday May 20

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Guest yobob1
On Housing there are bigger implications than the damage rising rates will do. The Bubble has increased the assessed value of homes to record highs which has driven up property taxes which in turn has provided cash starved Cities, Counties, Provinces etc with windfall revenue to keep them afloat. Now when prices fall and assessed values fall so does their tax revenues. That will Bankrupt local Government or reduce services drastically. Garbage pick-up once a month?? Coming to a theatre near you!

I posted those very thoughts, gawd who knows, maybe as much as a couple of years ago here in Stoolville. Of course that was before the parabolic blow off in prices. so now we have a situation where the local governments have adjusted their budgets to the current housing prices. Therefore the coming adjustments in future local government, who by and large are not allowed to run deficits and will run smack into a major wall of "no money" if they try and pass bonds, is going to be much worse than it might have been just a few short years ago. Throw in property defaults resulting in non-paymnet of taxes and Ka-Boom!

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A dull day like this triggers a vivid image of what these stock markets may look like in a few years after a wipeout. desolate, meaningless - like the last slot machine in a bar in a one horse town.

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Tonight on Capital Report with Allen Murray at 7:00

 

The "Republican Civil War"...featuring John McCain.

 

I told you he was up to something.

 

He's going to run for President. He's got all the Democrats talking about what a great guy he is...asking him to run as Kerry's VP...and what he's really doing is positioning himself to replace Bush.

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Watch the sox. GS just cut numbers on NOK intraday.Very unusual and usually means they wer tipped off. Should take less than 1 hour to make the mainstream.

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Tonight on Capital Report with Allen Murray at 7:00

 

The "Republican Civil War"...featuring John McCain.

 

I told you he was up to something.

 

He's going to run for President. He's got all the Democrats talking about what a great guy he is...asking him to run as Kerry's VP...and what he's really doing is positioning himself to replace Bush.

Constitutionally can a republican challenge the icumbent republican?

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Minimal Change

 

Fed Update is now posted! Know what Al and his crew are up to, and how it's likely to affect the markets. Take a subscribatory and download your daily Fed Report.

 

 

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