Has the Real Recession Begun?


Am I the only one who thinks the Real Recession is just starting?

Might be worth putting off buying that Park Slope brownstone for a few more years. . .

Categories: Real Estate
By IronBalls | 05/06/2010 2:24 PM | Comment

NYC Unemployment Passes 10%


http://cityroom.blogs.nytimes.com/2009/09/17/city-unemployment-rate-exceeds-10/

I predict this news will be the catalyst that breaks our local real estate market.

Unfortunately, local real estate prices are about to plummet.

There’s nothing but fluff holding them up right now. Wall Street jobs disappear, but lousy brownstones still worth millions?

Yeah, right. . . maybe there’s gold in them old bricks. . .

Categories: Announcements
By IronBalls | 09/18/2009 12:19 AM | Comment

New Bonus Taxes will Slam us!


If the Democrats in Congress get their way, these new bonus taxes could, in my opinion, be the final blow that knocks out our local economy and local real estate prices.

With Obama leading the way, the future of free market capitalism in this country looks bleaker and bleaker every day.

It’s the perfect storm — bad economy + Socialist/Democrat President and Congress. The top talent will move abroad to work and the US economy will tank further and further.

At least McCain wasn’t a Socialist.

http://www.latimes.com/business/la-fi-bonuses21-2009mar21,0,2125832.story

By IronBalls | 03/21/2009 3:02 AM | Comment

Money managers are a complete scam!


Ever since this Madoff thing became news, I’ve been thinking a lot about the value of “professional” money managers as I’m sure lots of you folks have too.

I’ve concluded that the whole business is a fraud, since no money manager can outperform his respective index in the long term, yet fees are charged none the less.

In my opinion, no fee index funds are the only rational means of investing in the stock market, unless you’re a gambler and want to pick individual stocks on your own for fun.

Hedge funds are probably the biggest scam of all since their managers charge the largest fees and just like mutual fund managers can’t outperform the markets, except on rare “by chance” occasions.

Is professional money management the next big business to fall?

It’s so damn easy to diversify on your own with a handful of index funds, why do folks pay more to do worse? I don’t get it.

Categories: Brokers
By IronBalls | 12/21/2008 6:47 PM | Comment

Obama’s First Interview: Oh my God!


Obama today actually said:

“The United States government should not worry about deficits over the next two years while spending money to jumpstart the ailing economy.”

Not worry about deficits? Spend our way out of this recession? Seriously, is he a complete idiot?

If you were planning to purchase real estate, don’t. Everything is about to go to hell.

By IronBalls | 11/16/2008 10:28 PM | Comment

Fear of Obama drives Stock Market Down!


How low does the stock market have to go for you Obama supporters to second guess your golden boy?

Fear of his promised eminent tax increases on high earners and business is driving the market to hell.

If you Obama supporters lose half your retirement savings or more, will you admit it wasn’t worth voting for somebody with zero relevant experience just because he looks and sounds different from George Bush?

Categories: Etiquette
By IronBalls | 11/11/2008 12:52 PM | Comment