Smoke and Mirrors Recovery Update

Things are just booming out there, let me tell ya:

Perhaps the best remedy for sky-high office vacancy in Las Vegas should come in the form of a steel wrecking ball.

Like the residential and retail markets, the office market is overbuilt, with nearly 50 million square feet of inventory and a vacancy rate of 23.4 percent in the first quarter, compared with 19.6 percent vacancy a year ago, Las Vegas-based business advisory firm Applied Analysis reported…

…”In the coming months, we expect commercial real estate prices to decline further and we’re not seeing any true recovery until the end of the year to early next year,” Hillis said…

One of the things I get to see in my daily commute is a sign – one of those “putting America to work” signs with the thinly disguised Obama campaign logo. Been there for the better part of a year – still haven’t seen the work we’re supposed to be put to. Maybe Barry can have us all working at imploding building and plowing Las Vegas under? Last one in town take down the Obama sign?

On a more serious note, do read in to the stories on the economy – you’ll find the common thing being not so much gain, as not losing quite as fast as we were before. This is what is driving things like the stock market – cleverly written stories which seem to report good news and thus fool the gullible. The gullible seeming to be heavily represented by stock market investors, these days. Can’t really blame them – its all they know. They don’t know how to create wealth and if the stock market doesn’t work, they’re sunk.

Victor Davis Hanson has an interesting article over at Pajamas Media – a tour, as it were, through recession-plagued California. Rich, poor and middle class areas are surveyed. The strongest impression I took away from it is of a weak people kept afloat by massive government spending – but, now, the government is broke. Eventually, they checks will stop coming – and, what then?

Then, boys and girls, we’re going to find out who the real Americans are. Who has retained the spirit which founded and built this nation, and who we’ll be ashamed to call our fellow countrymen.

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