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More on GM BK

It's just really, really upsetting this whole BK thing with Chrysler and GM. I think we all knew that this was inevitable. Thank God that Wagoner is out as CEO that guy is a disaster. They need to fire all those guys. In my opinion they are probably too old school to be competitive. Muscle cars are cool but the days when something is getting 12 MPG are coming to an end. Don't they know that the world's oil supply is in decline? What I never understood was when Wagoner stated that they were in the development stages of hybrid type cars but because of the economic downturn it foiled their plans. That was some kind of joke right? I mean this is GM you're referring to is it not Mr. Wagoner? Why in the world were you not developing this 10-15 years ago? Unbelievably upsetting. GM needs young, hungry guys (or gals) who actually have some vision!
Please feel free to post your thoughts!

GM BK filing

It's almost certain GM will be filing for bankruptcy protection within a matter of weeks. What I don't understand is why they didn't do it when they came looking for a bailout in their corp jets? When a business loses billions of dollars and doesn't have the reserves to keep it afloat it is bankrupt. But tax payers are paying for their incompetence, lack of vision and foresight. Why delay the inevitable? Wouldn't that money been better served to modify peoples loans to stave off foreclosures in a dire market?
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America bankrupt?

Did you know that the US is bankrupt? Check out statements from fed reserve sources. They aren't published in the mainstream media for obvious reasons. M3 money supply not in the mix I wonder why that is?

We constantly run a deficit with our global counterparts and finance the difference. The value of the dollar is at an all time low. Now China and other countries are pushing for a currency other than the US dollar to trade with. Not good for the US economy at all. They are stating that the US doesn't hold as much weight as before nor will they regain that footing in the future.

Commercial Mortgages

There is an estimated $530 Billion in commercial real estate loans that will be coming due in the next two to three years. With the CMBS market frozen, those loans will need some liquidity to help refinance them. But with rentals going downward, putting pressure on prices we should start to see more equity dry up.

REO/Foreclosure Market

Foreclosure totals coming out are staggering. Nevada data posted that almost 7 out of 10 homes are in negative equity territory. These properties are ripe for foreclosure. The banks can't handle the volume coming in. The secondary market is virtually nonexistent and more government bailouts just won't cut it. 

If you're an investor this is the absolute best time to invest in real estate. Residential or commercial. This opportunity will NOT come again in our lifetime if at all! 

Check this site out for foreclosures in your area. They'll give you a free trial offer! Can't go wrong they are the nation's leading source for foreclosure info.

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