Posted by Bill on January 22, 2008 at 12:12 am
Hi folks. If you are like me, you are watching the economic news get worse by the day. And on this MLK holiday, I want to share some of my thoughts regarding the near term future of the United States. In particular, I want to share with you my thoughts on the economy and the perfect storm that is approaching.
As you know, I live in Ohio. Ohio is home to two of the poorest major cities in the nation. Ohio is also highly regarded as the epicenter of the home foreclosure mess. So as you read this post, keep in mind that I have seen the mess a bad local economy leaves behind. However, my fear is that our nation’s economy is going to quickly fall to pieces. Some say we may be headed for a recession, and I’m starting to believe it may become even worse and lead to an all out depression.
First, I think you may find it useful to read a book titled, “The Second Great Depression.” The author of this book, Warren Brussee, clearly believes an economic depression is on the way. His book predicted that a depression would start in 2007 and last until 2020. He may be slightly off on the start of the depression, but his book clearly shows you why we all need to be prepared for potentially one of the worst economic disasters in United States history.
From my point of view, an economic perfect storm is approaching. We have the following signs that significant economic turmoil is near: Read the rest of this entry »
Archived under Economy
Posted by Bill on January 12, 2008 at 1:53 am
In a shocking move, the City of Cleveland actually got its act together and is suing 21 banks for improper sub-prime lending practices.
The problems created by vacant homes is indeed a major issue in Cleveland and its surrounding suburbs. Vacant homes not only are magnets for crime but tax revenue is lost because the home is not occupied. Another major problem with vacant and abandoned homes is maintenance.
Vacant homes are indeed costly for cities to maintain. After the proper resolutions are passed, city crews can take over maintenance of the properties. Many of these workers earn $20 an hour or more and have perks only dreamed about in the private sector. So it is costly for a city to take these workers off of other duties (road maintenance, etc.) and have them maintain private properties. As a result, their other duties get placed on hold. Each city eventually gets its money back after the lien on the home is satisfied. Read the rest of this entry »
Archived under Cleveland
Posted by Bill on January 6, 2008 at 3:55 pm
If Cleveland area residents don’t have enough to be upset about, those seeking great product deals at the IX Center instead became bait and switch victims (even if it was not intentional).
If you read this article, it will bring you up to speed on the troubling ordeal.
Living in the Cleveland Ohio market, I recall seeing all the hype on TV regarding the great deals on televisions, computers, and more. It turns out that the vendors selling these products were no shows at the sale. Needless to say, some people were just a little angry. Read the rest of this entry »
Archived under Cleveland
