The Golden Truth: CRE Dealt a Huge Blow in Denver

Saturday, February 13, 2010

CRE Dealt a Huge Blow in Denver

Qwest, which leases one of the largest and highest profile buildings in Denver has notified its landlord that it is not going to renew the lease. Qwest was required to lease the whole building, of which it subleases out about half of the space, in order to hang its obnoxious neon blue sign at the top.

Here's the link to the article: Qwest downsizes, leaves a big hole in Denver CRE

This is a huge blow to the commercial real estate market. My guess is the best shot anyone has at filling up that space is if Obama gives some "stimulus" money to a windmill or solar energy company to replace the space being vacated by Qwest.

6 comments:

EdwardoSunday, 14 February, 2010
This is OT, but oh so interesting.

http://www.zerohedge.com/article/exclusive-bank-england-engaged-flagrant-gold-manipulation-interwar-period-new-york-fed-does-
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Dave in DenverSunday, 14 February, 2010
Thanks for the link. Nothing is OT that is value-added input toward revealing Truth.
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EconomicDisconnectMonday, 15 February, 2010
Looks like Greece will be dealt with a bit later than the markets wanted, mid march is the headline item tonight.
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Dave in DenverMonday, 15 February, 2010
I saw that. Gold is flying. I think it's because it was announced that Greek will be bailed out for sure after they come up with big spending cuts. Fiat confetti for all!!!!
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EconomicDisconnectMonday, 15 February, 2010
How can gold be going up, isn't time for its one way trip to $0 yet??

The strength of gold as of late has been impressive and I think it means something.
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Dave in DenverMonday, 15 February, 2010
Ya. It means NBC's coverage of the Olympics sucks!

What's most surprising is that Feb on average tends to be a weak month. I'm guessing anyone with a bit of savings in Europe is buying as much gold as they can.

I saw an ad yesterday in the Denver Post, it was one of those cash 4 gold companies saying that they were paying more than any competitor because they had enormous international demand.

So typical that the U.S. hoi polloi is selling all their gold while the rest of the world hoovers it up.
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.