Global Economy Bursting?

[Randolph Kinney]

Sahara joins six other casino resort projects halted at the north end of the Strip, considered a development hot spot before the crisis.

Yes indeed, real estate is getting its comeuppance.

 

[VegasWayne]

The article didn't mention the Crown Casino, a proposed 142 story tower next to the Sahara, that was never built. The Sahara has been deteriorating for years. I am surprised it lasted as long as it did. Ceasars Palace is going ahead with finishing the Octavius Tower so there is some construction going on.

 

[Riick]

Munis Are The New Subprime
http://www.cnbc.com/id/41993563
Fear abounds that defaults are coming.

They ought to be afraid!
It's only a question of WHEN the first round of defaults are the opening story on the Evening News.

.

 

[Vetteman]

Buy gold and silver

Probably the best idea out there, along with beans and ammo. Any suggestions on what, where and how? Coins or bullion, safe deposit box, bury it in the back yard, no capital gains taxes?

 

[Couch Potato]

The article didn't mention the Crown Casino, a proposed 142 story tower next to the Sahara, that was never built. The Sahara has been deteriorating for years. I am surprised it lasted as long as it did. Ceasars Palace is going ahead with finishing the Octavius Tower so there is some construction going on.

It really should have closed eight or nine years ago.

 

[Couch Potato]

Probably the best idea out there, along with beans and ammo. Any suggestions on what, where and how? Coins or bullion, safe deposit box, bury it in the back yard, no capital gains taxes?

Capital gains taxes will kill you on commodities like gold, silver, etc. They don't get the favorable treatment securities receive. I suppose you could avoid the tax by never "selling," but rather barter for other things. Investing in coined metals of various sizes would aid in that disposal strategy. The most important thing to do is research. Remember you want to buy low, and sell high. You don't want to end up like the guy who bought his Miami condo in mid 2006.

 

[Randolph Kinney]

European Central Bank Wants to Unload PIIGS Bonds

http://www.spiegel.de/international/europe/0,1518,749140,00.html


Europe's Debt Crisis: The Most Difficult Decisions Are Ahead

http://www.theglobalist.com/StoryId.aspx?StoryId=9027

 

[DTB]

The most important thing to do is research. Remember you want to buy low, and sell high.

Or go with the trend, ala Turtle traders, and buy high, sell higher.:icon_idea:

 

[Couch Potato]

Or go with the trend, ala Turtle traders, and buy high, sell higher.:icon_idea:

That works only for things that never go down in value like real estate.

 

[Terrel L. Shields]

Gundlach pointed out that even if defaults do not ultimately climb as high as critics like Meredith Whitney have warned, muni bonds will likely trade much lower...He brushed off the notion ... buy-and-hold types .. are unaffected by declines ..

After any number of bond analysts said Meredith was wrong wrong wrong...now someone has the audacity to back her up. And yep, anyone really believe there are "buy and hold" types out there that will not rush for the exits and dump those bonds on the market? You bet. Bubbles are not rational events. They players are not seasoned bond traders. and worst of all, the states and cities will have to default when you get a huge gridlock between the taxpayer and the beneficiaries of those taxpayer's largess... The taxpayer is SPENT. Something has to give and I suspect rather than face the truth many governments prefer default and then the events will be forced upon them.....look for huge unrest as public employees get laid off indiscriminately and good programs get slashed simply because no one is willing to give on either side.
The American people are basically and collectively fools. They expect to avoid paying for all sorts of services that they feel entitled to.