Despite what harvey might say, this is a good thing for REITS. Remember, one aspect of REITS is that they can't retain earnings. If this proposed change occurs, then they can eliminate their REIT status and retain earnings to grow.
MIKE'S PREDICTIONS FOR 2003
Dow Jones Industrials - Lower than it is right now. If you make me pick a number, I'll say it will decline at least 10%, which will put us under 8,000 or likely closer to 7,800. The truth is that I think it might actually be even a little bit lower.
NASDAQ - Somewhere around 1,100, although NASDAQ has recently revamped the makeup of the index so it now includes less technology. I'm basically expecting between a 15% and 20% decline from current levels.
Ten-Year Treasury Note - 3.75%
Fed Funds - 1.25%
Yield Curve - More flat than now due to declines in longer rates.
30-Year Mortgage Rates - 5.25%
The Economy - The word "recession" will be used heavily by the media by late summer and you will hear the word "deflation" being used nightly by mainstream news anchors. Remember where you heard it first please. I expect the economy will stall in the second quarter and perhaps begin to spiral downward before year-end with GDP actually beginning to shrink, much less grow.
Real Estate - Declines in commercial real estate values will be substantial. The residential market will begin to decline early in the year and continue for several years to follow.
Oil Prices - With the potential war in Iraq and the other uncertainties it is hard to imagine prices declining anytime soon. If Saddam Hussein is removed from power we may actually see a steep decline in oil prices and see them drop quickly.
Unemployment - Rising toward 7.00% by year-end.
U.S. Inflation - Negative 1.00%
Tiger Woods - Three majors, which will include his fourth Masters, the British Open and the PGA Championship. His near miss at the U.S. Open will eliminate all the speculation about the Grand Slam and make winning the other championships easier without the pressure.
Me - A cutback in Diet Coke consumption and since I'm sharing this "inside information" with you, it's a terrific opportunity for you to sell Coke stock short!!
anyone who is a regular here knows this is true.I am surprised they keep coming back with the same (or sometimes diferent)bull
It's not a woman. It's not even a single human being. It's whomever "Harvey" has assigned to that "identity" on a given day.
Harvey himself (maybe, or maybe some humorist) actually has posted a few times on some boards. Or maybe he's JUST a figment of BD's immagination ... one whom many others have adopted as a swear word.
Harvey is the master of a batch of "paid posters" who deliberately try to panic people into selling. He assigns different people to different identities and then pays them based on how well they do. If they do well enough, they get one of the higher class (better paid) identities.
Alternatively it's a batch of people from the likes of www brawlhall dotcom or some similar outfit who think it's fun to "troll" and do it as an organized group.
Listen Wong Hung low, people will stay home and make thier own pasta and hamburgers before they miss a mortgage payment. In fact they'll stop buying anything,stay home and eat beans before they loose their home. You embaress yourself with these lame arguements. Another effect of the problem you are discribing is that there is absolutely no way fed can cut rates.
PASTA & MCDONALDS COR New low
MONTEREY PASTA (NasdaqNM:PSTA) @ 4.16 Change..-2.69 (-39.27%)
MCDONALDS CORP (NYSE:MCD) @ 15.91 Change..-1.27 (-8.46%)
The NY Post�s Jessica Sommar, citing credit analysts, warns a �landslide of defaults and bankruptcies� will eventuate when bills come due in January. Credit cards are the new unemployment insurance with consumers continuing their conspicuous consumption even when unemployed. Jessica notes household debt is more than $8 trillion and is rising at the fastest rate in 12 years. Consumer indebtedness is at an all-time high. We�ll add that there can be no recovery until consumers retrench and reliquidify. In fact, one can argue there has been no recession yet because debt has not yet contracted. There�s no easy way out � only unpleasant alternatives. It�s the debt, stupid!
Averting a threatened strike, the transit workers' union and the Metropolitan Transportation Authority yesterday announced a tentative agreement that calls for a 6 percent raise over three years and an overhaul of a disciplinary system despised by the workers.
The three-year deal - announced at 7:23 p.m. - provides for a $1,000 lump-sum payment to each of the union's workers in the first year of the contract. In each of the next two years, the contract calls for a 3-percent raise - which for most workers adds up to $1,500 annually by the contract's last year.
December 17, 2002 -- The New York Life Insurance Co. plans to move about 1,000 employees, or one-quarter of its Manhattan work force, out of the city, The Post has learned. The move would likely mean dumping space in a half-dozen buildings in Midtown and Midtown South.
The plan, titled "Consolidation of New York Office Space" and bearing the familiar blue N.Y. Life logo, has been quietly making the rounds of brokers and consultants.
A New York Life spokesman confirms the company is "actively looking" at sites in Westchester and New Jersey, although it will keep its headquarters in its landmark tower at Madison Square Park.
Under a rule of thumb that assumes each employee occupies about 225 "rentable" square feet of space, the relocation of 1,000 New York Life stafferstranslates to about 225,000 square feet.
In itself, that's no big deal in a Manhattan market of more than 400 million square feet, of which around 12 percent is already available.
If pasta and hamburger stocks are making new lows, can REITS be left behind?