Hi Mark, I noticed, by turning my head a bit while riding into town on the bus, that several furniture stores are having final liquidation out of business sales. Together with the restaurants and entertainment spots that went before, we are progressing into our 46th month of recession, deflation, depression.
Interest rate for deposit is zero (actually 0.125%), and on mortgage is 3.00% for normal, 2.75% for good risk!
Commercially built mass market real estate are now on offer at below the price of government subsidized public housing, starting last week. Still no takers!
Government deficit is rising. Civil servants have their pay cut.
Cleansing deeply, scrubing painfully, and continue we must, probably for at least another 46 months, because many do not feel enough pain yet. Horrifying to the max.
Chugs, Jay |
