The Sub prime market seems to have gone down in flames and we can expect some adverse effects in the real estate market. Real property prices of some neighborhoods will probably drop drastically as lenders start to take possession of collaterals from borrowers who failed to pay their obligations. C’est la vie! The economy moves in cycles of booms and busts. If there’s an impending bust now, we are not so sure. However, what we are sure of is that real estate is good collateral, most of the time.
One of the most moving speeches that I've read. During grade school, this was the most often recited elocution piece in my school. Here it is, the text of Raul Manglapus' Land of Bondage, Land of the Free. Land of Bondage, Land of the Free By Raul Manglapus And yet, ladies and gentlemen, the tao is constitutionally free! No wonder, then, that the tao being a slave has acquired the habits of a slave. No wonder that after three centuries in chains, without freedom, without hope, he should lose the erect and fearless posture of a freeman, and become the bent, misshapen, indolent, vicious, pitiful thing that he is! Who dares accuse him now? Who dares rise up in judgement against this man, reduced to this subhuman level by three centuries of oppession? Ladies and gentlemen the tao does not come here tonight to be judged -- but to judge! Hear then his accusation and his sentence: I indict the Spanish encomendero for inventing taxes impossible to pay! I indict the usurer for s...
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