Bad news for the city. One of my primary sources in my evaluation of the entire L.A. economy (focusing on commercial real estate) said this last night, "however bad you think the economy is now...in 12 months time this will look like a picnic."
AND IF YOU HAVE BEEN FOLLOWING MY ECONOMIC ANALYSIS AND PREDICTIONS AND WARNINGS OVER THE PAST THREE YEARS...DON'T TAKE THAT LITTLE COMMENT AND THIS LITTLE POST LIGHTLY. (This is one of those JUMP UP ON THE TABLE AND START SCREAMING TO GET YOU TO UNDERSTAND THE LEVITY OF THE SITUATION BECAUSE IT IS NOT BEING ADDRESSED IN THE NATURE IT NEEDS TO BE BECAUSE PEOPLE DO NOT UNDERSTAND THAT WE ARE NOT AT THE END OF THE PAIN, BUT THE BEGINNING. I HAVE BEEN OUT ON A LIMB WITH WILD, DOOMSDAY PREDICTIONS ALL ALONG...AND I AM ALWAYS SCOFFED AND SCORNED AND DISCOUNTED...AND THIS IS ONE OF THOSE MOMENTS WHERE I AM LOOKING INTO THE FUTURE AS I HAVE IN THE PAST AND I JUST SAW SOME KIND OF HORROR MOVIE ON THE SCREEN.
I know there are people thinking we have hit the bottom already in the economy, and Wall Street will be bouncing back...
AND I KNOW THERE ARE UNION MEMBERS AND COUNCILMEMBERS AND GENERAL MEMBERS OF THE PUBLIC WHO THINK ANYTHING BEING DISCUSSED WILL BE ENOUGH -- EVEN IF THEY COULD PULL IT TOGETHER AND GET STARTED...
Anything we have experienced up until now in Wall Street (Billions in pension losses) and all the U.S., State and local "pain" is just the start of the show. Just the mere first cocktail appetizer.
IT'S GOING TO BE SO BAD IT'S HARD TO IMAGINE BECAUSE WE HAVE NEVER SEEN IT BEFORE.
(So keep that in mind if your future is tied to Wall Street, or the local L.A. economy.)
I can see the way the people in charge are handling this matter and there are two problems:
a) They are not even realistic in their evaluation of the future/where we actually will be standing next year and the year after (it's going to be MUCH worse...commercial properties will be going under, right after all the pension money was given to the developers to build the stuff they will be settling for pennies on the dollar.)
THE SHOE HASN'T DROPPED YET!
b) Besides unrealistic revenue projects and a fake budget with all kinds of padding and smoke and mirrors and concession people haven't made and have said they will fight in court, no one can agree on anything and I doubt they will agree in enough time to save the ship, because they are not realistic in their evaluation of the severity of the situation, so are not behaving or making decisions as though it were the end of the line.
THE CAR HAS ALREADY BLOWN PAST THE ROAD BARRIERS AND ARE HEADED OFF THE CLIFF LIKE "THELMA AND LOUISE" WITH THE FOOT ON THE ACCELERATOR.
Go ahead and mock and scoff and scorn and attack the message. I've got three years of shockingly accurate predictions on this matter, and when a primary ZD indicator says, " "however bad you think the economy is now in 12 months time this will look like a picnic," I am going to issue the warning for those may want to take action based on this prediction.
WHEN RAINMAN SAYS, "296 toothpicks,' DO NOT GO AGAINST IT WITH THE "No, there are 300 in the box," argument. You'll get burnt, every time!
GOLD IS AT $1017!!! (Why do you think THAT is? Is that a sign to YOU?)
(Now go ahead and dispute what I am saying. THE CITY IS SO FAR OFF TARGET BECAUSE ALL THIS DEBATE IS TOTALLY UNREALISTIC ANYWAY.
OBAMA NEEDS TO STEP IN!