The End of the US Recession (Not!!)
Despite all the happy talk coming out of Washington, the fact remains that the Economy continues to limp along. This is underscored by the reluctance of the National Bureau of Economic Research to officially call for the end of the recession. For those who may not know who these guys are, these are the same folks who are officially in charge of calling it when recession begins and calling it when it ends.
The threat of the double-dip recession looms large. Banks seem to have turned a corner. Although, I find the report of Morgan Stanley losing 5.1 Billion (that's Billion with a B) to be a harbinger of the continued bloodbath in Real Estate. They have been big players in Private Equity Real Estate. What I found especially ironic was that they had apparently taken a big hit on the headquarters of the European Central Bank. It is not over, yet.
The threat of the double-dip recession looms large. Banks seem to have turned a corner. Although, I find the report of Morgan Stanley losing 5.1 Billion (that's Billion with a B) to be a harbinger of the continued bloodbath in Real Estate. They have been big players in Private Equity Real Estate. What I found especially ironic was that they had apparently taken a big hit on the headquarters of the European Central Bank. It is not over, yet.
Mike Pouraryan
