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Several notes:
1) Foreclosures in US are returning only 53% - and only the best foreclosure are being processed
2) Commercial Real Estate looks to be worse than the Residential Real Estate implosion
3) China issuing bonds in RMB - not due to need but to acclimate the market to them
4) The ROW will move forward without the US as the biggest market via tax policy: increase real estate and property taxes, remove taxes from labor, and thus create more competitive internal markets
Several notes:
1) Foreclosures in US are returning only 53% - and only the best foreclosure are being processed
2) Commercial Real Estate looks to be worse than the Residential Real Estate implosion
3) China issuing bonds in RMB - not due to need but to acclimate the market to them
4) The ROW will move forward without the US as the biggest market via tax policy: increase real estate and property taxes, remove taxes from labor, and thus create more competitive internal markets