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TwitterSpanish unemployment rate is 25% and rising. Youth unemployment is 52.9% and rising. Meanwhile Spanish budget deficits are such that Spain will need more austerity. I keep wondering what it will take for this setup to blow sky high in riots.Via Google Translate from Libre Mercado central government deficit already exceeds the maximum provided for the yearThe central government posted a deficit of EUR 48,517,000 through July in terms of national accounts, the 4.62% of GDP, representing an increase...
Friday, August 31, 2012
1:30 PM
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Inquiring minds note China, Germany Plan to Settle More Trade in Yuan, Euros. Germany and China plan to conduct an increasing amount of their trade in euros and yuan, the two nations said in a joint statement after talks between Chancellor Angela Merkel and Chinese Premier Wen Jiabao in Beijing on Thursday."Both sides intend to support financial institutions and companies of both countries in the use of the renminbi and euro in bilateral trade and investments," said the text of the statement.It...
12:13 PM
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The July figures from the apartment complex look good. Overall, they've dropped a bit from June, but not significantly. June was the sixth consecutive month of increasing total income, so I expected that to end sooner or later. Total income for July dropped by $4,000 and occupancy dipped to 90%. Offsetting the lower income were lower payroll and utility payments, so we had a net gain in monthly profit. However, the property overall was above break-even, which is a first for this year and, if I recall,...
11:35 AM
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On the heels of famous and famously troubled but essentially homeless "actress" Lindsay Lohan (allegedly) skipping out on a $46,000+ bill at and being banned from* the boho-swank Chateau Marmont in Los Angeles, CA where she shacked up for a good portion of the summer, word comes down the celebrity real estate gossip grapevine that the always-in-some-kinda-legal and/or Showbiz tangle starlet may make a move to Manhattan.The Confidential canaries at the Daily News reported this morning that the hard-charging...
10:32 AM
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Several weeks ago Your Mama regaled the children—or punished the wee lambs, depending on your point of view—with photographs and floor plans of a octagonal triplex penthouse atop the City Spire building in Midtown Manhattan. The uncommonly configured penthouse, according to property records, is owned by real estate developer Steven A. Klar who hoisted it on the open market in late July (2012) with...
10:19 AM
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Once nannycrats grab on to an idea, they never relinquish it. Eurobonds are the perfect example. Many other ideas float around despite numerous objections in key places. Some of these ideas involve creation of more commissions and more working groups.Here is a sampling of commissions and groups that I am aware of.The European Commission is headed by president José Manuel BarrosoThe European Council is headed by president Herman Van RompuyThe Euro Group is headed by president Jean-Claude JunckerThe...
9:19 AM
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Actor Matt Damon and wife Luciana Barroso have been on a long and as-yet unsuccessful search for a new, super-sized pad in Manhattan for years* but, as the folks at Zillow revealed, they didn't seem to take much time on the west coast where they've dropped a whopping $15,000,000 on a three-story, 8,890 square foot** Zen-contemporary in the upscale Pacific Palisades community.Previous reports and listing...
9:14 AM
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Safeway officially announced today that it will close its Petworth store on September 8th to make way for the mixed-use development that has been long planned for the site. The new store, to be developed by Duball, is scheduled to open mid 2014, with a 62,000 s.f. facility that will be the third largest in the city, triple the size of the current store. Five floors of residential will...
9:03 AM
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A 107-year-old home in Cleveland Park has received a last minute pardon from razing, after the property was sold to a new owner and plans to develop the site for the moment shelved."The raze application and the concept proposal have been withdrawn," confirms Steve Callcott, Deputy Preservation Officer at Historic Preservation Review Board (HPRB). "We received notification from their attorney that...
8:36 AM
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Here is an easy prediction: Price of fashion models in advertizements is going to collapse, if indeed the industry survives at all.Why should retailers pay for fashion models when an advertizing department can generate models with the perfect height, weight, breast size, nationality, and complexion for whatever designs they want to promote? Bad News For Super-ModelsMarketWatch describes the setup...
6:30 AM
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Yo! Sushi, the British fast food sushi chain, is opening a second location at 675 H St, NW. Construction is slated to begin in early October.The Four Seasons Hotel in Georgetown will be opening Cafe M, a 635 s.f. pastissieurre and cafe located off the front courtyard, this Fall. It will be located in the M29 Lifestyle store which re-opened after an expansion in June.DC Noodles, which closed to make way for Louis at 14th on U Street, is reported to be planning to reopen at 1817 Columbia Rd....
4:30 AM
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Group files to stop Georgia Avenue Wal-Mart (Washington Business Journal) Builders are expected to start construction of the site within weeks, but opponents have asked the Board of Zoning Adjustment to reverse the building permits issued earlier this year.NIH signs 10 year lease in Bethesda (Washington Business Journal) The GSA has signed a lease renewing the NIH's Democracy Plaza lease of 365,000 s.f.Contracts for commercial construction way up in NOVA (Virginia Business) Contracts...
Thursday, August 30, 2012
11:10 PM
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Markit reports Japan Manufacturing PMI Hits 16 Month LowKey Points: Output and new orders down at accelerated ratesNear-stagnation of employmentPurchasing costs fall to greatest extent since November 2009Markit/JMMA Manufacturing PMIAfter adjusting for seasonal factors, the headline Markit/JMMA Purchasing Managers’ Index™ (PMI™) posted 47.7 in August, down from 47.9 one month previously, signalling...
5:16 PM
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In response to Economist Fired for Expressing Opinions on Max Keiser Show; Errors in Observation where I stated "The Fed Cannot Realistically Cause Hyperinflation" I received a couple of emails worth reviewing.Reader Philip writes ...I do not understand how you could say that the Fed cannot cause hyperinflation. The government has a huge debt. The debt is manageable at super low rates. But, if rates...
12:05 PM
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In case any of y'all didn't already know, veteran country music kingpin Alan Jackson is—as Your Mama likes to say—a serious Real Estate Baller with a rotating property portfolio stuffed to the gills with a hefty handful of high-cost and high-maintenance residences in both Tennessee and coastal Florida.Two years ago the award-winning country crooner sold Sweetbriar—an epic, 135-acre estate outside...
10:16 AM
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As first revealed by the ever-industrious folks at Realtor.com, sitcom star Matt LeBlanc—first famous as do-do bird beau-hunk Joey Tribbiani on Friends, then as do-do bird beau-hunk Joey Tribbiani on the blessedly short-lived Joey and now appearing as a version of himself on the very possibly under-appreciated Episodes—has put a plush and expensively restored and updated Spanish-style abode he owns...
9:21 AM
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Did Justin Beiber's former Disney star girlfriend Selena Gomez buy comedic actor/producer/screenwriter Jonah Hill's house in Tarzana, CA?Maybe. Could be. Property records Your Mama peeked at don't yet reflect a transfer of ownership of the five bedroom, 5.5 bathroom, single-story quasi-Cape Cod/California ranch-style residence young Mister Hill picked up only last September (2011) for $2,175,000 but...
8:48 AM
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Once again there is grim data from Europe. The safe thing to do is expect grim data every time European data is reported. Except for an occasional outlier, you will not be too far off.Eurozone Retail Sales Decline 15th MonthMarkit Reports Eurozone retail downturn deepens in AugustKey points:Revenue contraction extends to tenth monthGerman sales flat; sharper falls in France and ItalyInflationary pressures...
8:20 AM
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Archstone's First + M apartments in NoMa was just the second apartment building to go online in the once quiet neighborhood, but thanks to its distinguishing design and sheer size, is helping transform the area that is now busy during the day and even sometimes at night. Occupancy of the building began June 1, and the leasing office says that 162 of the 469 units are now occupied.The building...
8:19 AM
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Looking for a loony idea to address unemployment in France? Look no further because I have a doozie.Via Google Translate from El Economista, France will create 150,000 jobs for young people without qualificationsThe French Government has today adopted a draft law providing for the creation of 150,000 subsidized jobs for young people with little or no qualifications, which are most affected by unemployment and employability harder.The beneficiaries of these so called "jobs of tomorrow" will work...
6:29 AM
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Despite its intense building spree over the past couple of years, the DC Public Library system isn’t quite finished. A final big project included in the budget for the city’s rebuilding of existing libraries is a redo of the Woodridge Library, located on Rhode Island Avenue in Northeast DC. On Monday night, architects Bing Thom and Wienceck + Associates met with local residents to introduce the new...
4:30 AM
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DC's 21st century waterfront, connecting past with future (Atlantic Cities) The evolution of the revived waterfront is bringing design full circle, with urban parks ebbing and water-centered commerce on the rise.Pending homes sales rise for 15th straight month (HousingWire) Pending home sales in July rose to the highest level since 2010.Housing starts down in July, but permits up (NAHB) The up and down swing of new homes reflects builders' timidity about being burned by the market, with construction...
Wednesday, August 29, 2012
7:19 PM
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In a long-overdue moment, governor Jerry Brown has finally admitted the obvious, the state's pension system is broke and California Has "Lived Beyond Our Means". Unions of course are howling at that obvious admission. Please consider California leaders strike public pension reform deal California Governor Jerry Brown and lawmakers have reached a deal to raise public employees' retirement ages, have them pay more into their pension accounts, and cap retirement payments in a vast overhaul of the state's...
12:36 PM
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Ever since pasty-pallored Twilight heart throb Rob Pattinson's often-sour-pussed Twilight cast mate and long-time girlfriend Kristen Stewart was caught smoochin' and coochin' with British-born and very-married neophyte movie director Rupert Sanders (Snow White and the Huntsman), the Pattin-Stew corner of the interweb has been a scalding conflagration of scandal, intrigue, outrage and harsh judgement...
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