Friday, July 20, 2012

Development and Capital - Where will it come from?

One of the more interesting and informative blogs that I read daily is the Casey Report. I recommend it to everyone, especially those in development and construction. We all live by capital and borrowed money. We all know what has happened since 2008 but in reality it started almost 30 years ago with cheap money (low interest rates). Sure there was the aberration of the late 1970s but we went back to our profligate ways very quickly and here we sit today, dangerously close to disaster.

I won't candy coat it, it can't be wished away. Capital is a requirement of capitalism, plain and simple. I found this excellent video done by the Casey people of an interview, just this week, with David Stockman, who was Regan's man at the US Office of Management and Budget. No clearer message can be made.

It is long, I realize that, but it must be seen and understand we are at a crossing point in our national economics. We must address these problems if our urban environment and our national growth is to be maintained. It won't be pretty.

Stay tuned . . . . .

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