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Where Your Gas Money Goes


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Wow, that's quite nice! I heard one of those guys actually purchased one of those new Air Bus 777 jetliners for their own personal use! It's a freakin' double-decker super plane, the largest commercial aircraft in the world. They're the only private citizen to have one. Heard it's going to be outfitted to the tune of like $300m.

But that's ok, let them spend all that money. As someone who's very much tuned into the real estate markets and capital flows around the world, I can tell you many of these guys are really taking a gamble in our real estate and banking markets right now. Hope they've read their history books of when Japan tried to do the exact same thing back in the 80's and 90's, and lost their BUTTS! To sum it up, who here would buy a McMansion in Southern California right now for the asking price that was set in March of 2007 (the peak)? And then, who here would finance that purchase on a 18 month note? Nobody? Going once, going twice....repo'd to the market guy in the back! Because Mr. McMansion owner, who also influenced the lender with a $7.8b stock purchase (citibank), can't find anyone willing to buy it from him that would even come close to covering the debt on the property, or at least recover his down payment. In the mean time, the lender under new congressional lending laws, can't ignore or manipulate the appraisal anymore, therefore can't refinance the loan beyond maturity for the current debt, and wouldn't you know it, OUR problem, just became THEIR problem! Take this example and multiply it by 2.8 billion times across all sorts of business sectors, and you now know what's potentially about to come to a lot of the foriegn capital flowing in.... Just like the Japan "geniuses"...didn't fully understand the game, bought high, thought it would sell higher, ran out of time to wait, got forced to dump and run due to poor financing (terms), and never came back.

Hope first up: those damn idiots who took my Budweiser from me!

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I'm not envyuos or anything like that but I feel it's strange how on the one side you have this kind of extravagance and across the street you have people living in mud shacks, women and children blowing themselves up all in the name of what, Allah, money....?

It just seems so unbalanced, I know it's the same everywhere but lets say here in the US it's a curve from poor to rich but there it's a spike, your either poor or filthy rich.

Just a rant here, but sheeeesh.

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