Blood in the Streets – Wall Street Underground

By Nick Guarino | March 25, 2010

Don’t get me wrong. I hate to see blood in the streets. Especially if it’s mine or my subscribers.

But in any great catastrophe, blood must flow. The Riots in Greece are just the start. Better its their blood being shed than ours. And we are entering the greatest financial catastrophe ever. Rivers of blood will be flowing all over the globe. This will get to the point of oceans.

Too many people bought Wall Street’s b.s. About the stock market: “A sure-fire long-term investment, that will let you retire a millionaire.”

About real estate: “It can never go down in value. So buy now before we run out.”

About you can borrow your way to prosperity and government will support you.

About the “too big to fail” banks: they must be saved, so they can save the economy by giving us even more credit.

About The Great Depression II, “which we never had, and even if we did, it now is over.”

The masses insist on getting taken in by this bullshit. So don’t blame us for picking off incredible bargains. Bargains that are cropping up all over America, Europe and the developed world.

Current Recos do exactly that. They explode market myths. Myths designed by Wall Street, to take the suckers’ money. (God must love the suckers, because like the poor people, he sure made a lot of them.)

More important, Current Recos is where you learn how we could turn those myths into big fat paydays for ourselves. (And through the years there have been a lot of those too.)

It’s an incredible time. I have never seen anything like it. The whole world is in denial. All we have to do is sit back, wait, and hope we are right in the fact that the world is living in the ultimate fool’s paradise.

Once again the masses are getting cashed in. The “why rent when you can buy” lemmings are learning the truth. They can’t buy a house anymore: no credit or savings, not enough income, and prices still are way too high. And now they are running low on money to rent, too.

One of the world’s biggest cheerleaders for real estate is the Royal Institute of Charter Surveyors (RICS). The RICS just surveyed 430 of its members in 25 countries. It found 85% of them expect distressed property sales to soar in 1st quarter 2010, compared to 4th quarter 2009.

Don’t forget, distressed property sales set a record last quarter. Even though banks are doing everything possible to stall foreclosures, and cook their books. And now the Royal Surveyors are telling us the all-time record in foreclosures is about to set an even bigger record.

RICS senior economist Oliver Gil Martin said, “it is the major real estate markets of the world, namely the U.S., Ireland, England, Spain and Japan, where agents expect the strongest growth in distress sales in the 1st quarter 2010.”

You must understand who these RICS guys are. The pompous, blue-blazer prep school pricks. They wouldn’t utter the word “shit” if their pants were filled with the stuff, right up to the top of their back pockets.

They were big-time spin doctors for booming real estate sales. Even when the boom was long dead and buried. All last year they blew blue sky up our butts. Prices have bottomed and will go up. The worst is over. Signs of a recovery are everywhere, they said.

Hmmmm. Is there no end to people in high places, who use their positions to feed us full of bullshit? I get sick and tired of it.

Now the RICS says foreclosures will soar. DAHH! Astonishing. They finally figured it out. That means one of the industry’s major trade groups is NOT predicting “recovery.” They are predicting more catastrophe.

I bet that was really hard for them to admit. Which tells me things are about to get a LOT worse. They are trying to get in front of the bad news, so they don’t lose what little credibility they have left.

Remember, the average guy is struggling to pay his mortgage. His property is worth far less than he paid for it. He is hanging on to the desperate hope (hope always springs eternal) that there will be a haha turnaround.

You know there will be no turnaround. I know there will be no turnaround. Now the average Joe is finally starting to figure it out. Too late!

In reality, the wipeout gets worse by the minute. The biggest financial crisis in the history of the planet gets more severe — more deadly — as mankind’s major investment (real estate) falls deeper and deeper into the pit.

And as the NICS just said, the worst for real estate is still ahead of us. All I can say is, what took you guys so long — to own up to the mess you and your members created and denied for years?

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