Richfield

The leaders of the world met. This last weekend in Washington, the leaders of Europe and the United States met to try to figure out this global credit crisis. So far, European governments have decided to guarantee every loan made in Europe. That’s right, I am not kidding. The question I have is where is the money coming from? A lot of the Europe governments are already running budget deficits and they have high national debts. The only way a government can generate revenue is to tax its citizens or print money. So the European governments are either going to have to raise taxes very, very high to pay for these loans or their going to have to turn on the printing press. It is a lot most unbelievable. These are supposed to be the smartest financial minds in the world. But a policy like this is going to devalue the Euro and cause inflation. This means a lot of opportunities for real estate. It is so cheap right now and I think it is going to get cheaper. Banks are scared. They don’t know what is going to happen. I would buy real estate. I am going out later today to look at four duplexes in Northeast Minneapolis that are under $60,000. A lot probably have hardwood floors that I can sand and refinish. If you think your hardwood floors need to be sanded and refinished give me a call.