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Politics : President Barack Obama
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To: John Vosilla who wrote (100803)9/5/2011 6:52:28 PM
From: tejek  Read Replies (1) of 149317
 
I like that you are one voice of reason, a balance to all the doom and gloomers over there, most of who have no real estate background or any capitalistic bent with regards to the incredible opportunities available 'most' of the time in the industry.
Look......I went through my trial by fire back in the early 90s. The latest [at that time] LA housing bubble burst in 1989.......housing prices plummeted. Then the first Bush started closing down bases and cutting back on defense spending.........the LA, OC and SD economies were decimated.

In 1992, the Rodney King uprising took place. LA was under martial law for nearly a month. Fires burned all over the city. The rioters almost stormed Beverly Hills. LA cops had to help the BH cops keep the rioters out. For the next year all we heard when we went to sleep at nite was gun fire. Cops refused to do anything about it. LA verged on anarchy.

Then in 1994, LA got hit by a strong earthquake.....freeways buckled. Bldgs toppled. Some pancacked. I had to bring down a 6 story bldg in 48 hours. LA residents who had fled in their PJs turned up in Salt Lake City, Reno, Denver. Most never came back.

Those were the major impacts. Let's not get into some other facts like that LA is one of the most corrupt cities in the country; had been living off of former glories for years and that it sports one of the worst rich/poor income ratios in the country.

Needless to say, my view of my fellow Americans going through the current crisis is that they are wimps. Can you blame me? ;-)

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