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Odds 'n Sods:
I was astounded to hear a get rich quick infomercial on
the radio on Saturday morning. The marketeer was selling his "DVD
course" on how to make millions with "nothing down", investing
in residential real estate. Real estate? They've got to be
kidding. How do you make money "investing" in a declining
market? This was the same pitch I heard a year ago, when the market
was booming. And he wasn't taking about about buying foreclosed properties.
He was talking about
buying
houses
"in hot markets" to either flip or to keep as rentals
while
they "appreciated." I
laughed out loud at that suggestion. There are some very naive people
that see the current decline in residential real estate as a short
term "dip." I
have news for them: This "dip" in prices is just the beginning,
and the bear market may last a decade. OBTW, I've
just coined a new term for people that foolishly "invest" in
declining markets: contrapreneurs.
o o o
International
political analyst
Arnaud de Borchgrave comments on North Korea's paranoid president
for life. Are we supposed to trust Comrade Kim Jong-Il, and feel
all warm and fuzzy now that he
says that he's "Sorry" about his country's recent nuke
test?
o o o
Amidst
veritable economic collapse in Zimbabwe, Comrade Mugabe will soon
move into a newly built $26 Million USD luxury mansion that he can
keep for himself
after retirement. Oh,
but now we hear that he may decide to extend his term in office past
2008, to perhaps 2010. (Depending, I presume, upon
his mood and medications.) Gee, I wonder what the price tag for the
mansion would be if it was expressed in those hyperinflated Zimbabwean
dollars?
