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Hey Old 76'er, glad to know that you bought TSN and did well. The recession has been tough on my balance sheet. I always believed in hard work and investing in commercial real estate. Thank God everything is paid off and generating income.
I love real estate (commercial,nothing really big) such as small stores and car lots. The problem is that with deflation here in Florida our property has just lost so much of it's value. Always thought it better to own 7 or 8 properties than one big one. I am depressed; always paid off mortgages on time, had modest cars; never living above my means. Deals I could do with my bank 3 years ago over the phone, forget about it! Now, I am just another bum to them even with sterling credit, cash and no debt! I don't know what it takes anymore to do deals!! Don't know about you but I am not in the market in any major way. The stocks I like have done OK but I have been falling in love with cash. The "Great Recession" is far from over. I don't care what Larry Kudlow and the rest of these out of touch guys say. The recession may be over on Wall Street but on the real streets things are still tough. This country imho is seeing a bear market rally currently. Until we can get unemployment and manufacturing going we will not recover. Currently USDA statistics show 1 out of 9 families in the USA receiving food assistance! If it weren't for liberal social policies we would be seeing a lot of the misery our sainted grand fathers saw in the 1930's. Corporate earnings seem to be driven by cost cutting, lay-offs etc. The top line isn't that great when you read the 10k's. Corporate canibalism works for three quarters before economic reality shows the real truth. People are broke, scared and unemployed; many guys like me have lost a lot of our net worth. I am not complaining because I am blessed with good tenants and no debt. It is just tough to see houses in my neighborhood selling for 50% of what they were worth 18 months ago and proud working class people living on the dole. Generally recession resistant business operations like used car dealers (me) are seeing the pain a lot of other guys are suffering. Hell, a pal of mine who is a pawn broker is complaining! Well guys pardon my kvetching; I am going to do what I always have; go to work and press on. Hope you are doing well and have your health. Owly stay in touch. My prayers continue for your wife; God willing her time in the wilderness will soon be over.... Rating :
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Old 76'er/Owly & Ex Copart where ever you are.
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joeytheghos... | Not rated | 24-Sep-09 09:35 am | ||
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Joey et al,
Dumb luck that I happened by the bo...
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excprt | Rate it | 24-Sep-09 01:05 pm | ||
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I don't know why you mention Obama with respe...
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vitkajarvi | Rate it | 24-Sep-09 01:53 pm | ||
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Until everyone learns that dem/rep are feathers of...
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beava_la_bu... | (1 Rating) | 24-Sep-09 02:07 pm | ||
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People who follow this board know that I was ...
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joeytheghos... | Rate it | 24-Sep-09 07:31 pm | ||
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I may agree that many politicians intent...
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vitkajarvi | Rate it | 25-Sep-09 11:18 am | ||
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Vitkva - I agree with you to a larg...
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joeytheghos... | Rate it | 25-Sep-09 04:34 pm | ||
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Joey - thank you for taking yo...
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vitkajarvi | Rate it | 26-Sep-09 06:12 pm |
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