Article:
Spain delays and PRAYS that ZOMBIES repay debt
mortgages.
WHAT
THE HECK??????? (I just HAD to read this article!!
Hey, if "real people" in the United States couldn't repay
THEIR mortgages....I won't bet much on these
ZOMBIES????? LOL....)
http://www.bloomberg.com/news/2012-05-28/spain-delays-and-prays-that-zombies-repay-debt-mortgages.html?cmpid=yhoo
Excerpt:
Before the Crash
Before Ireland’s real-estate crash, banks including Anglo
Irish avoided getting appraisals to avoid bringing them before
audit committees, according to four people familiar with the
matter, who declined to be identified because the information
is private.
Anglo Irish gave developers capital to finish projects in
2008 using personal loans. That way, the bank’s primary loan
would continue to appear as performing, Irish developer Simon
Kelly, who together with his family owes banks 800 million
euros, said in a phone interview.
“The Irish property market had to collapse like the
Spanish one because the economy was collapsing,” Kelly said.
“Spain is looking like a re-run.”
My comments:
Isn't it AMAZING that Real Estate, of all possible assets,
brought down the US, Ireland, and now may bring down
Spain......and probably MORE contries as well!!!
So,...... Everyone is HOPING China is going to keep
coming to the table to help out in Europe.
Hmmmmmm.....IS EVERYBODY JUST NUTS!!!!!?????????
GOSH.....
Look at these 2 photos...
One is of Spain's EMPTY Housing Projects..and the other is
of....
CHINA'S EMPTY Housing Projects..
So.....just let me get THIS straight....
EVERYONE IS BUILDING EMPTY HOUSING PROJECTS......THAT THEY
CAN'T SELL...THAT THEY CAN'T GET OCCUPANTS FOR....(BTW, who
the heck knows why Chins is building EMPTY CITIES!!??)
Anyway..... and europe is going to HOPE and PRAY that
China will bail them out..
HAVE WE ALL JUST FALLEN DOWN THE RABBIT HOLE.......AS IN
ALICE AND WONDER LAND!!!!!!!!!!!!
TICK TOCK.........
YFIC,
Randy
Oh......is the Rapture set for THIS September????? I HOPE
SO!!
