| To: MoneyPenny who wrote (26308) | 3/25/2005 12:01:24 PM | | From: John Vosilla | | | | | Trump's current attempt to steal the equity in a public casino company where he has a fiduciary duty to the minority shareholder's is amazing. He pushed the parent company into bankruptcy even though only one of the two subsidiary companies had financial problems and the assets weren't even cross collateralized. On top of that he spent the shareholders money to demolish a casino on now very valuable land that has no mortgage on it. He hopes to develop upscale condos on the Atlantic City boardwalk making not only a fortune on developing it himself but screwing the shareholders out of their equity in the land that should have been placed for sale on the open market. Trump must have a lot of friends in high places. If any of us attempted this it would be 30 years to life in prison. |
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| To: MoneyPenny who wrote (26301) | 3/25/2005 12:18:13 PM | | From: shades | | | | I am in the clearwater area, the growth is astaounding, one guy I talked to was selling his tiny 1200sq ft cottage in clearwater beach for 500K+ he was going to move to costa rica and buy a mansion and hire servants.
On one of the radio shows this week they talked to one of don trumps real estate buddies, he said that when the DON was about to go into bankruptcy, he went to the banks and said if you want my properties FINE, I will take my name off of them, and no one will come to the taj mahal if it is not called the TRUMP taj mahal, so they restructured all his debt and redid his payments. My mom has a west palm beach house but moved away because of traffic and water problems and rents that place now, sand was coming through the pipes when you turned on the spigot - everyone says hold cash and hang on for the great deals in a few years, but if cash is gonna crash too - is that wise? |
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| To: Jim McMannis who wrote (26312) | 3/25/2005 12:23:53 PM | | From: John Vosilla | | | | | Jim, I think the population boom is being driven more by immigrants from Latin America and construction workers and many other less educated working in the tourism industry coming from other states for work. No doubt the multiplier effect from folks coming here that cashed in their chips from up north and choose to invest here from around the world with the weak dollar have been primary drivers to keeping our economy very strong while other areas suffer. When that changes look out. |
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| To: MoneyPenny who wrote (26301) | 3/25/2005 12:23:54 PM | | From: mishedlo | | | | I have never seen anything like it in my long career (37 years).
Isn't that to be expected?
After all....
"It's a whole new paradigm" ggg
Mish |
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| To: John Vosilla who wrote (26324) | 3/25/2005 1:02:56 PM | | From: Jim McMannis | | | | Well, Florida passed 17 million and about 500k-600k a year are moving to Florida. Yes they are immigrants but from all directions.
Florida...sandwiched.
I think the thing now is to buy property out of state in nice areas in Georgia, Tennessee and Carolina.
It won't be long until the Florida newbies will figure it out and want to get out of Dodge. |
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| To: shades who wrote (26323) | 3/25/2005 1:05:27 PM | | From: redfish | | | | Nothing like S. Florida, though. I'm over in the Feathersound area and you can still get one heck of a house under $400k.
The fever is not at full pitch yet here. |
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| To: seventh_son who wrote (26271) | 3/25/2005 1:17:38 PM | | From: seventh_son | | | | Given that there is such a massive pool of savings coming from Japan propping up crappy Japanese government bonds bearing no interest and US bonds that are not a lot better, one has to ask why more of this money is not going into gold? With hundreds of billions of dollars in play, just a small percentage of these savings would make a big difference for the gold market. Part of my quest for that answer was realized when I read about Japan's own version of BRE-X, which had as great or even greater psychological impact on the investing public.
In the first half of the 1980's, a financial company went around in Japan selling investments in gold certificates to senior citizens. As it turned out, there was no gold backing any of the certificates and the savings of 29,000 people disappeared -- what even without adjusting for inflation is $2 billion today. The government did very little to help the people who were victims (and apparently closed their eyes on the fraud initially). So, many ordinary Japanese investors now equate gold investment with fraud. Ironically, Japanese government bonds may some day turn into something not very different from the gold scam.
japantimes.co.jp |
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