Andre J. Peschong

Yes, an odd name for an article but one that has true meaning in this particular case.  The following piece came out about a week ago and it distills down the essence of the “white elephant.”  First of all, what is a white elephant?  Well, in the deal business and in “Wall Street speak,” it is a term that refers to a glaring problem or issue (the white elephant) that everyone clearly sees but no one wants to acknowledge.  The subject matter in the article, “The Looming Crisis Kiss the Bride ipod Network movie download The Story of Abraham and Isaac According to Richard Dawkins download ,” is just that.  There will be serious repercussions when the hammer falls and people realize that all of the money being pumped into the economy, the feel good Obama 100 days, and especially the media blitz that Obama has been conducting trying to calm the markets, will not stop, slow down or even be a speed bump in the commercial real estate melt down. 

For instance, Manhattan, regarded as the safest and most valuable real estate in the world is currently seeing commercial vacancy rates over 12% and experts believe that will go to 19% by the end of this year!  That is not a crack in the dam, that is a complete hole. The second largest real estate shopping center owner, General Growth Properties, just filed for Bankruptcy protection.  That is another serious white elephant.  The markets continue to shrug off this bad news because we “choose” to focus on the positive things.  What is positive?  Did I fall asleep for 2 years and wake up and now the recovery is happening?  No, the fact that the markets, the administration and now the public are looking on the bright side is doing nothing but setting up the economy and the markets for another confidence shattering reality check to investors and Main Street.  Read the full article here.

Caveat Emptor…

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