Key points of the morning:
Commercial real estate development will not come back for a while, until the current 'empty' assets get filled up. We may have too much CRE built up in our cities. He is NOT a buyer.
He is a buying 'distressed debt' ...I assume that includes CRE debt as well a Corporate debt. Basically, he is sitting on cash and buying bad debt out of the bad banks/FDIC.
If you go to cnbc.com, click on the CNBCTV.
Choose cnbcU.S., click on Squawck Box.
A list of videos will show up. There are 5 of them. Start with the lowest vid first. They're usually posted by most recent.
Also, watch the video called Hedge Fund Titan, Ray Dalio. Very Important!
Both Zell and Dalio don't believe the dollar will be the Reserve Currency of the future.
If that happens, the US loses all credibility for future investment from other countries.
The US has been borrowing from others on our good credit. Can you say No Doc/Stated income? We all know what happend to those loans. Well this could be coming to an end, soon.
End of an Empire?
Anyone teaching their kids Chinese yet?
Sorry for the directions to the site. I still can't get a Hyperlink to work.
Key points of the morning:
Commercial real estate development will not come back for a while, until the current 'empty' assets get filled up. We may have too much CRE built up in our cities. He is NOT a buyer.
He is a buying 'distressed debt' ...I assume that includes CRE debt as well a Corporate debt. Basically, he is sitting on cash and buying bad debt out of the bad banks/FDIC.