23

08/09

This is NOT going to end well

16:08 by Administrator. Filed under: Whatever


Filed under: Old Posts — John Galt @ 8:08 pm

by John Galt

August 23, 2009

Thanks to the folks at www.chartoftheday.com you get some idea as to just how absurd the earnings reports have been thanks to the distortions of creative accounting. With 97% of S&P companies reporting we have a whopping P/E ratio of 129 on the S&P 500 and that is so many deviations from the norm, it is not even funny. The historical average until the .com fiasco was 20 and change to the high side with 7 as the average to the low side. Obviously even under the best of economic circumstances this is not sustainable, thus look for a massive correction to bring this number into reality and statistical norms.

23

08/09

Pictures from the Depression of 2009 in Florida

15:14 by Administrator. Filed under: 2009

Pictures from the Depression of 2009 in Florida

Filed under: Old Posts — John Galt @ 3:14 pm

by John Galt

August 23, 2009

As many of you know, I travel all over the state of Florida and when time allows, I attempt to take pictures to just document what this economic collapse in Florida looks like. I do have pictures from a food bank in Fort Myers but could not get permission to publish them so for this series, I will have to withhold those pictures. However here are some photos to review with some brief descriptions. All were taken in late 2008 through July of 2009.

NEWCIRCUITCITYjgflaSEBRING

A new Circuit City in Sebring, FL of U.S. 27 which opened, operated for about 3 months and then shut down with the bankruptcy.

I guess this guy doesn’t read the paper.

FORMERSPFPROJECTjgflaENGLEWOOD

A former Standard Pacific subdivision project in Englewood, FL. Those who bought at the highest prices just have to be thrilled with this view.

FORMERSPFPROJECT2jgflaENGLEWOOD

Another picture from the project in Englewood. No traffic jams here!

GANDYBEGGARSjgflaSTPETE

The bums at the Gandy Blvd. exit off I-275 in Saint Petersburg assembling their cardboard signs and grooming for their morning beg.

HUNTERCREEKjgflaSARASOTA

Welcome to Hunter Creek! A development of weeds east of Sarasota.

HUNTERCREEK2jgflaSARASOTA

Plenty of room for houses, horses, cows, snakes, weeds, etc….

OAKHURSTPARKjgflaPALMETTO1

A brilliant idea. Clear some swamp in Palmetto, FL, call it a luxury housing project and convince people to buy at the top of the market.

OAKHURSTPARKjgflaPALMETTO2

Well, maybe not such a brilliant idea. But at least the mosquitoes have their natural habitat still intact.

TYPICALSIGNjgflaTAMPAAREA
This is about typical but the seller is probably still asking too much. You see these at numerous intersections in Florida it seems.

WELCOMETONORTHPORTjgflaNORTHPORT

Welcome to North Port, FL. Please discard your 2007 or older road maps as many streets are now CLOSED.

WINKLERRDjgflaCAPECORAL1

A failed development off of Winkler Rd. in Fort Myers, FL. I’m sure the banksters are thrilled to be holding this prime property; NOT!

MEXICANBUSjgflaCENTRALFLA

Good thing we have all these illegals here to do the jobs that aren’t there we won’t do. I took this picture traveling back from Melbourne on Florida Highway 70 after finishing some other appointments. Sorry for the blurry picture but it is not the smoothest road in the world, trust me. I provided the translation for those who were curious.

As I get time, I shall post more pictures, more perspectives and on my next Orlando trip I promise to take pictures of the situation there. The East Coast is not much better and if the meetings let out early or if I find some intersting subjects in the middle of the state, I shall add to the picture collection.