Big news is a buzz and people are doing more than talking about the current state of the U.S economy.While the majority of the working U.S took the day off to celebrate Martin Luther King Jr. day, signs that the U.S dollar was receding to a weaker state.The Chinese and German market fell sharply and it was due in part to a response of the short comings the dollar has seen in the last several months.It doesn’t help that our economic leaders have proposed an economic stimulus package that will end up totalling 150 billion dollars and giving back a total of $1200.00 to a full family and close to $600.00 to a single tax payer.It’s a great idea and opportunity to stimulate the economy but, considering the last time that the Federal Reserve decided to give back to the taxpayers in the form of a stimulus package,the majority of tax payers SAVED that money. What a joke right!? Wouldn’t it be more prudent to spend 3 million dollars on a nation wide poll to determine of the money would be spent or saved PRIOR to presenting a new economic stimulus plan!? It’s pretty silly, but I suppose crazy enough to work. Obviously the area’s that are impacted the most are big cities like San Diego, Los Angeles and even small towns like Clearwater Beach FL.
Is there a recession going on? It’s pretty clear that we are in a state of recession, but the general public is having a hard time of that title actually sinking in. I was scanning the New York Times today and read that a 3rd world African country released a 10,000,000 dollar note of their national currency…. that is laughable considering that that note equals about 4 U.S dollars. Every great civilization WILL fall, but we have learned a lot and have predicted that these factors would be hitting our soil — It’s really a matter of how we handle these next few moves or else it may be CHECKMATE!
In less than a year the U.S will see a new face as George W. Bush will step down from his 8 year reign as President of the United States of America. We are on the forefront of a drastic change not only politically but financially. This will mean big changes for our struggling economy.
Some of the political norms that are being challenged are very groundbreaking; Talks of a female President, an African American President, and a Libertarian who wants to abolish income tax and the IRS. Ron Paul has raised almost 19 million dollars for his campaign while Barack Obama is challenging many stereotypes U.S citizens see as leadership M.O’s. A question that ALWAYS get me excited is the possibility for new trade which could bolster our economy and the even more exciting possibility to cut spending.
People abound are talking recession this and inflation that, but with a new leader comes the possibility positive change. Imagine Ben Bernacke not having to cut the FED rate or the discount rate not to relieve pressure but watching it reduce naturally? That would mean that the American people could start fresh with a budding real estate market, start managing their debt and we could potentially be in a great position to get The United States back into good shape! That could mean that San Diego would continue to boom, Arizona would get hotter and Belize would look that much more pretty.
Early this week a buzz has been heard all over the nation that had its start in our nation’s capital of Washington D.C; President George Bush, along with some regarded advisors have devised a plan that intends to save “at risk” home buyers and borrowers from going into default and foreclosure with their property. The plan is structured to be implemented in the near future and the programs primary directive aims at freezing introductory teaser rates on the controversial Option-ARM or Pay Option mortgage program. Over the last few years unqualified home buyers have been enticed by the ARM program but failed to realize the long term ramifications of the program; while the introductory rate of 1% to 2% was often seen as being a slam dunk, many borrowers failed to see that many of these interest rates were only fixed for a small number of years. while many investors made money from this program by capitalizing on a then booming real estate market, others didn’t refinance their program or sell when their teaser rate ended. This unfortunate turn of events meant that many borrowers were very over extended in terms of their how much they owed on their property compared to how much they made, it was also not uncommon for some homeowners and borrowers to be upside down on their real estate investment. While the Federal Reserve Chairman Ben Bernacke has made attempts to alleviate pressure by cutting the federal interest rate, President Bush’s new plan may make a more direct impact in helping out the borrower by taking the problem head on and helping the problem where it is most needed, by assisting the consumer.
NCO has officially launched NCO Capital. We offer several services:
1. We source financing for developers. We currently work with private equity firms and hedge funds that are interested in lending money to developers or being JV partners on projects. We have the capacity to source between $1 million and $500 million for developers. This financing includes bridge loans, mezz loans, and construction loans.
2. Bulk Purchasing- We work directly with investment groups that will bulk purchase up to 50% of the remaining units on a projects and we have investors that will close on the units.
For more information on NCO Capital, please contact Jon Thielen- Our Managing Director of NCO Capital at 619-787-2922 or email him at firstname.lastname@example.org