WHAT IS SOMETHING WORTH...IF YOU CAN'T SELL IT TO ANYONE...BECAUSE THEIR ARE NO BUYERS...?
THAT IS THE PROBLEM IN REAL ESTATE NOW...
YOU CAN ALWAYS FALL BACK ON REPLACMENT COST...THE COST OF LABOR AND MATERIAL...TO DETERMINE A "PRICE."
BUT WHAT IF YOU MUST SELL...AND THEORETICAL "VALUE" IS NOT AN OPTION?
WELL YOU COULD DISASSEMBLE THE BUILDING AND SELL THE RAW MATERIALS TO CHINA...I SUPPOSE...? NAMELY, TO SCRAP IT...KNOCK IT DOWN, OR BURN IT...TO CLEAR THE LAND?
BUT THESE LAST OPTIONS ARE REALLY NOTHING MORE THAT DELIBERATE DESTUCTION...
I AM REMINDED OF THE 1930'S NEWS PHOTOS OF FARMERS DUMPING MILK OFF THEIR TRUCKS DURING THE DEPRESSION...
IS IT TIME TO START "DUMPING MILK"....?
NO, BUT WE ARE GETTING VERY CLOSE...
OF COURSE WAR WAS THE TIME HONORED WAY OF HANDLING EXCESS PRODUCTION AND INVENTORY IN THE PAST...
BUT HOW DO WE DO A "WAR" TODAY...THAT ECONOMIC "TOOL" SEEMS BEYOND THIS PROBLEM TODAY.
SINCE ALL OF THE OVER BUILDING WAS INSIDE THE US "BUBBLE ECONOMY"...
WHAT IF TAKES DECADES TO "ABSORB" THIS BUBBLE ECONOMY EXCESS...? WHAT THEN...?
PERHAPS A EURO-WELFARE STATE ECONOMY...?
A EUROLAND STYLE "SOCIAL DEMOCRACY"...?
THAT SEEMS TO BE THE ONLY REALISTIC OPTION AVAILABLE.
