Interesting story I came across on JohnChow.com about a young real estate flipper, Casey Serin, that got caught in the turn of the real estate bubble. Without going into too much detail about the specifics of his experiences, I am adding this post to the web site due to the pending debt/real estate bubble. People have no idea what is out on the horizon, even those that are getting caught in the beginnings of this wave think it is just a dip in the market. What we are witnessing has the strong probability to gain momentum and feed on itself affecting all of us. Much will depend on how well the government regulatory bodies navigate through the bad loans and the fall out of Fannie Mae and Freddie Mac.

It is no accident that the government ceased reporting M3 levels this past spring. It is also no accident that draconian new bankuptcy laws were passed recently in front of what may be some very difficult lending environments in the future. The key now is to keep one’s “powder dry” and clean up personal balance sheets. Casey has chosen to go public with his situation and I see no reason to be judgemental about his actions. Personally, I think he may get out of this mess, but what he and many others need to learn is that the markets will not react like they have in the past and the real estate professionals have no idea how the relationship of a fiat currency, record M3 levels and geo-political variables will take down the savviest in their field.

00:59:51

With the neocons in power for what seemed like ages, I forgot how much fun the liberals double standards could be. This makes me long for the Bill and Hillary “baking cookies” days. With friends like the democrats the unions need to find a new party that isn’t so “globalist.”