Rash of Commercial Foreclosures on Horizon
OPS_admin | Feb 27, 2010 | Comments 0
The next shoe to drop in the ongoing financial crisis could be a rash of foreclosures in the commercial real estate market, the ramifications of which could be devastating nationwide.
The next shoe to drop in the ongoing financial crisis could be a rash of foreclosures in the commercial real estate market, the ramifications of which could be devastating nationwide, according to a report by the Congressional Oversight Panel.
“A significant wave of commercial mortgage defaults would trigger economic damage that could touch the lives of nearly every American,” the report reads.
Between now and 2014, $1.4 trillion in commercial mortgages are expected to come due. Many of those borrowers will face difficultly trying to refinance at the end of the mortgage’s terms, causing countless property owners to default, the report warns.
Full Story: Rash of Commercial Foreclosures on Horizon | Economy In Crisis.
Filed Under: Economy - Labor
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If we don't change our ways soon...
A new report by the Royal Society, chaired by Nobel prize-winning biologist Sir John Sulston warns that world population must be stabilized and consumption in wealthy nations must be reduced or the entire planet is in big trouble. As the report reads: "The number of people living on the planet has never been higher, their levels of consumption are unprecedented and vast changes are taking place in the environment. We can choose to rebalance the use of resources to a more egalitarian pattern of consumption... or we can choose to do nothing and to drift into a downward spiral of economic and environmental ills leading to a more unequal and inhospitable future."This is the same warning that President Jimmy Carter gave Americans back in the 1970's - but it was ignored when Ronald Reagan came to power with a "more positive" message basically telling Americans we can do whatever we want. And then after 9/11 - Bush told us all we should go shopping and consume ever more.And now with corporations calling the shots in Washington - long-term sustainability of the planet takes a back seat to short-term profits. If we don't change our ways soon - and embrace clean, alternative energy and educate women around the plant - then we all could be headed for a rough century.-Thom(Is there any chance we will learn in time? Tell us here.) -
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" We the corporations" On January 21, 2010, with its ruling in Citizens United v. Federal Election Commission, the Supreme Court ruled that corporations are persons, entitled by the U.S. Constitution to buy elections and run our government. __________
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The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. 
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