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San Diego Single Family Home Prices Have Now Plunged 30 Percent from Their 2005 Peak
It's a strange world we live in, when bonds are the most 'exciting' financial instruments there are. I long for the good ol' days, before the smartest guys in the (financial) room hijacked us. Given that credit card borrowing is the debt of last resort for most people, is it true that the overall bank exposure might be greater than that of subprime loans, should unemployment and the recession get worse?— August 28, 2008 11:23 a.m.
San Diego Single Family Home Prices Have Now Plunged 30 Percent from Their 2005 Peak
I always thought there would be two gauges to predict the bottom of the housing market: one objective and the other subjective. The objective bottom will be when house prices have dropped sufficiently so that, as a landlord with a moderate down payment, the rental amount would cover your monthly mortgage, property tax, HOA fees etc. The subjective criteria is more straightforward - it's when everyone you meet says: "You can't make any money investing in real estate!" By either criteria, housing prices are still too high in San Diego, and nationwide.— August 27, 2008 6:04 p.m.
It's Official, If a Bit Silly: We Have a Bear Market. More Disturbing: General Motors Could Go Bankrupt, Says Analyst
Response to post #14: I'd have to agree that this "War in Iraq" is indeed all about oil, otherwise it wouldn't make any sense at all. Post #11 mentioned something about what we'd need to do to win the war in Iraq. If indeed the war was simply about our securing/stealing their oil, then maybe it's time to simply declare victory and leave, especially with the recent awarding of the no-bid Iraqi oil contracts this past week. Much of the financing for this war depended on cheap oil and borrowed money from abroad. Now, cheap oil is no longer available, and our new bankers (no, not Citibank, think China) are probably no longer willing to extend credit for such preemptive, expeditionary wars. With oil rising to $144 per barrel, it's like a huge mound of grit has been thrown into the the U.S. economic engine. More sensibly, we should pull in our horns, and focus on what we can do to get us out of this recession.— July 4, 2008 7:14 p.m.
It's Official, If a Bit Silly: We Have a Bear Market. More Disturbing: General Motors Could Go Bankrupt, Says Analyst
Albert Einstein once said: "I don't know what kind of weapons will be used in the third world war, assuming there will be a third world war. But I can tell you what the fourth world war will be fought with -- stone clubs." If the price of oil stays at ~$145 per barrel, the U.S. won't have to worry about keeping GM solvent to fight the next war. We simply won't be able to afford anymore conflicts, like the present Iraqi "incursion". When Erwin Rommel, one histories best military tacticians, ran out of oil, so too did his Panzer Divisions in North Africa. I don't see why our military would fare any better.— July 4, 2008 6:12 a.m.
Yes We Cannes! The Yacht That Tells a Lacht -- Everything, Actually -- About Copley Newspapers
Re: David Copley and the San Diego Union Tribune One can't but help but think of the following quotation from William Blake: "A dog starv'd at his master's gate predicts the ruin of the State".— June 11, 2008 10:09 p.m.
U-T, North County Times Lose Circulation, but LA Times, Orange County Register Do Worse
Reply to post #11: I would have fewer objections to Tony Perry's positions if he would have been a columnist, along the lines of Steve Lopez of the LATimes. Instead, Perry assumed a range of positions of "reporter", "editor" and "columnist" in his San Diego coverage for the LATimes. No doubt this was partially caused by the short-staffing of the LATimes in SD, but even so... And his pimping for the San Diego Padres in a promotional film certainly accounts for why he missed out on some of the biggest corruption stories in San Diego history. Whatever happened to those reporters we watched in "Front Page", who would sell their soul for a good scoop?— May 1, 2008 7:41 a.m.
U-T, North County Times Lose Circulation, but LA Times, Orange County Register Do Worse
Reply to #9: I must be blocking: The reporter for the LA Times based in San Diego is "Tony Perry". Good thing I'm not working for any of the newspapers - they'd already be history!— May 1, 2008 6:04 a.m.
U-T, North County Times Lose Circulation, but LA Times, Orange County Register Do Worse
A newspaper is only as good as its troops on the ground. I found Tony Green on the LA Times to be a marginalized at best, alternatively cheerleading for the SD establishment, sports teams and moving the airport to Miramar. After reading his SD pieces for ~20 years, I can't recall a single major story that he broke.— April 30, 2008 10:08 p.m.
SEC Charges Five Former City Officials with Fraud for Roles in False Municipal Bond Filings
One can hope that discovery actions under the civil trial might uncover evidence that is helpful in criminal prosecutions. Of course, it wouldn't hurt to have a new President and DOJ willing to go after these crimes.— April 9, 2008 7:16 p.m.