This post has been read 1475 times!
October 13, 2016- by Steven E. Greer, MD
I am in Los Angeles before I head to Palm Springs. I noticed right away all of the boarded-up storefronts on my drive from the airport to the heart of Sunset Strip. I suspected that it was the same phenomenon gentrifying New York City into a sterile strip-mall, and I was right.
Bloomberg reported last year that the area, with all of its historic live rock venue bars, etc. is being converted into nothing but a row of glass-box office buildings and hotels. Even the House of Blues has been shuttered in preparation for bulldozing to make way for a hotel.
This is sad to me. It’s like seeing my old high school or home torn down. The Sunset Strip was my playground back when I was a Wall Street hedge funder.
I have been told by people who know the West Coast that the cost of living out here is right up there with New York, but I did not believe them. It’s true. Hotels, drinks, and food are pricier than Manhattan. I paid $20 for a cocktail last night.
Who’s to blame? There is a direct causation between President Obama’s zero-interest-rate policy at The Fed and the real estate bubble that is driving all of this devastation to communities.
Vote the establishment politicians out of office on November 9th!
Oh, by the way, sell all of your stocks and other liquid assets now, because another financial collapse is imminent.
