Obama Depression Continues to Unfold

Every day in the new Obama economy brings new surprises. The quasi-fascist economic policies of the new reich are making things very hard for businessmen and investors. A market economy is based upon a hard-won trust between the economic players. After a mere 100 days of Obama, that vital trust is being obliterated.

The latest ominous cloud on the horizon floats over the commercial mortgage market.

"On the street, the rumor is it is coming and it's going to come fast and furious. Some people are predicting September," said Paul Waters, a New York-based executive vice president of brokerage operations in North America for NAI Global, a top-five commercial real estate brokerage with operations around the globe.

Just as the housing meltdown did, the commercial real estate crunch is likely to begin as a slow bleed that gains momentum. It's likely to be spread evenly across the nation, in large part because of an outgoing economic tide that's spared few companies anywhere.

"There's going to be a lot of trouble on Main Street with some of these commercial and industrial buildings. The biggest impact will be on some of the smaller owners," Waters said. "The smaller local regional players that are stretched thin may have some great difficulties with their mortgages." _McClatchy_via_NewsAlert

As usual, governments are far too slow in reacting to the commercial real estate crisis to do any good. One state government is even pretending that there is no problem at all. Part of the problem may be the movement of jobs away from city centers.

Another aspect of the problem is demographic change. The US rust belt is being deserted in favour of the sun belt. Some cities and regions are simply dying off, like Europe. Much of the commercial and industrial infrastructure in those areas may lie neglected indefinitely, especially if the Obama / Pelosi reich's economic wrecking ball is allowed to continue for much longer.

Everything Obama does in the name of solving a problem, seems to make the problem worse in addition to creating new -- and worse -- problems. But as long as he has the news and entertainment media acting as enthusiastic cheerleaders and smokescreen machines, most of the oblivious public will remain oblivious.

Recruitment for Obama's "zombie sqad" brownshirt civilian enforcers should be quite brisk, as the productive economy continues to fall by the wayside. He promised change, and his wife promised he would make us all sacrifice. Even the Obamas' close friends in the Chicago law community are feeling the pinch. Perhaps before they can spread the wealth, they must first "spread the misery?"