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http://www.zerohedge.com/article/mar...-his-smoke-bre
Marc, they are just burning up FIAT baby.......watch what happens when we go to Gold!
Marc, they are just burning up FIAT baby.......watch what happens when we go to Gold!
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Re: Mega explains to Marc Farber why.....
interesting obs hereOriginally posted by Mega View Post
from the above at ZH
faber offers: "...was in La Jolla, Laguna Beach, Newport Beach, I was in front of a restaurant smoking and I've never seen so many Ferraris, Maseratis, Bentleys and fancy cars anywhere in the world, and this is in America. I am not saying this is wrong, but there is an opulence among a small group of people that is huge when there are lots of people that are struggling. This gives me a bad feeling because I've seen so many emerging economies when they were booming, that was the time to get out."
well... where else, but socal/OC, would he be surprised to see such over-the-top, conspicuous consumption?
but wonder how many of these fine cars are actually leased (rented) vs owned (that old fashioned concept)
this link was in one of the COMMENTS: http://www.businessinsider.com/newpo...acution-2011-5
brings up one of ole murphy's laws: the fundamental solvency of any firm is inversely proportional to the opulence of the front office decor....
HOUSE OF THE DAY: The Most Expensive Estate In Orange County Is About To Be Sold At A Foreclosure Auction
A June 20, 2011 foreclosure auction has been set for the $37 million Villa de Lago in Newport Beach, Calif. The mansion is the priciest listing in Orange County. Luxury home salesman, John McMonigle's McMonigle Group, built the home as a spec, hoping to sell it for $57 million. Failing to sell, McMonigle dropped the price down in July 2010, to $37 million, but soon stopped paying the monthly loans.
The estate has a lot to offer with panoramic views of the canyon greenbelt, mountains, and Pacific. It also has an arcade, private lake, 17-car garage, and a wine cave.
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wonder how much this baby will liquidate for....
was also kind of interesting the comments on the ZH story devolved into a mini debate on the merits of a consumption tax
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