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The banks are still ailing, the second wave of foreclosures is about to hit, unemployment is rising, yet the stock market is soaring. This of course makes no sense. We are probably still in a bear market rally and things may well come crashing back to earth soon. But I’m not buying puts or going [...] Properties in foreclosure, Palmdale CA From Rob Dawg at Exurban Nation P = NOD filed A = NTS filed B = Back to the Bank / REO / Foreclosure 119 properties currently in the foreclosure process at some point for just 1 development. At this point an earthquake would be a kindness. Given that [...] These new, almost finished homes were getting steep fines from the municipalities. The builder had filed for bankruptcy and the homes were in foreclosure so the banks choose to destroy them instead. If those now infamous shoots of [stock market] recovery are popping up all over, why would insiders be so aggressively dumping stocks? Yet, they indisputably are. According to a study prepared for Bloomberg by Washington Service, a research outfit, directors, officers and the like have sold $353 million worth of stock in this fading [...] When the US economy catches a cold, Detroit ends up in the emergency room and Flint goes on life support. Rather than wait out the inevitable decline, Flint is thinking about simply moving residents from dead quadrants of the city to the remaining viable areas, then demolishing those areas and letting them return to forest. [...] youragentsteph on Twitter, she’s a realtor in Houston It’s crazy! I have 8 buyers that can’t find homes. Unbelievable how many buyers vs. listings out there right now Jim The Realtor says a property in San Diego just got 52 offers. Don’t want to get in a bidding war? No problem, there will be [...] Raser Technologies has devised a way to create geothermal energy from water only as hot as a cup of coffee. This is much cheaper than other geothermal techniques and can be done in more places too. Plus, unlike solar or wind, geothermal produces power 24/7. [...] Clusterstock has thoughtfully assembled a list of the most bearish financial pundits, but really, they’re all a bunch of perkypants compared to Jim Kuntsler, except for Dimitry Orlov, who also basically predicts we’ll be living in caves and grubbing for worms as penance for our excess while society collapses around us. Such prognostications apparently [...] Mish wonders where it will end. Four hundred of the 2,000 largest shopping malls have closed; construction is halted on hi-rise construction projects; and no one knows what to do with the increasing number of vacant auto dealership lots. Lawrence Summers: Positive economic news few months away (Sue has dubbed me Mr. Perkypants for my misguided optimism about the economy while she’s ok with her new moniker, Mrs. GloomyDoom) |  | ||||
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