MSG Last Night- The Knicks Fall Short- NEIL SISKIND

From the 5th row, we watched the Knicks surprise through the third quarter- but they didn’t disappoint in the 4th against the Golden State Warriors, when they let the Warriors, and Kevin Durant explode and take the lead. I’m not a Knicks fan- I just love to see the Warriors lose. It was not to be. In the end- it was not even close.

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China & The U.S. – The Cost Of Doing What’s Right- By NEIL SISKIND

China is putting in place measures to protect children from spending too much time playing video games. This is costing Chinese companies, like Tencent, a lot of money, and is not good for Chinese GDP- but it is the right thing to do.

The U.S. is curbing China’s forced transfer of U.S. company IP and technology for U.S. businesses that want to do business in China, and is protesting China’s limits on U.S. investments in China and China’s requirements that U.S. companies partner with Chinese companies in order to business in China. As the result, we have a trade war that is very costly to America- but it is the right thing to do.

Principles come with costs. But some prices are worth paying.

 

Neil S. Siskind, Esq., President
The Siskind Law Firm
Tel: 646.530.0006

Neil Siskind is the Founder & Chairman of The Fatherhood Assignment
Neil-Siskind-photo
Learn more at:  http://www.neil-siskind-the-fatherhood-assignment.org/

Neil Siskind is the Conservator of the Neil S. Siskind Nature Preserve
Neil-Siskind-Picture

The Neil S. Siskind Nature Preserve is over 7 acres of environmentally-pristine waterfront land in a magnificent setting along New York’s majestic Hudson River. The Preserve includes a variety of species of animal and plant life, and is a precious example of the thoughtful maintenance of New York’s priceless open spaces. The land’s uses are limited to outdoor recreation such as hiking and climbing, and the study of ecology, nature and land use. The Neil S. Siskind Nature Preserve allows for the intelligent contemplation of our valuable natural resources and the most effective ways to maximize them and keep them protected.

Neil Siskind, Founder, “National Fatherhood Day” – March 29th

Neil-Siskind-pics
To encourage recognition of the needs of boys and girls who are living without fathers or father-figures in their lives.

Read about the non-profits and charities whose missions Neil Siskind supports and promotes: www.neilsiskindsupports.com
Caring is Free®

You can read what clients and associates say about Neil Siskind at: http://siskindlawfirm.com/neil-siskind-bio/.

Neil Siskind’s Volunteer Work:

– Memorial Sloan Kettering Cancer Center, Volunteer

– Memorial Sloan Kettering Cancer Center, My Fundraiser- Help Neil Siskindhelp children with cancer to be more comfortable: http://mskcc.convio.net/site/TR?px=3182108&fr_id=2632&pg=personal

– Make-A Wish Foundation- Help Neil Siskind make sick children’s wishes come true by creating your own fundraiser: Neil-Siskind/Help-Make-A-Child-Smile.htm

– DonorsChoose.org- Donate to one of my needy public classrooms: http://www.donorschoose.org/NeilSiskindGiving

– Champion Children– We seek to inspire people through stories of children who have overcome challenges: http://siskindlawfirm.com/neil-siskind-champion-children/


Neil Siskind’s Pro Bono
 Work:

– Saving Senior Citizens- Protecting New York’s senior citizens from fraud and financial abuse www.savingseniorcitizens.com

– Senior FreeStart Business– Pro Bono: We seek to help put senior citizens in the right direction so that they can face the challenges of the modern economy: http://siskindlawfirm.com/free-start-business/

– Veteran FreeStart Business– Pro Bono: We seek to help put Iraq and Afghanistan war veterans in the right direction so that they can face the challenges of the modern economy: http://siskindlawfirm.com/free-start-business/

– In development: The Neil S. Siskind School of Hope: A free school to teach inner-city youths the skills of entrepreneurship and importance of economic self-sufficiency.

Neil Siskind’s Government Work:

– Suffolk County District Attorney’s Office, Boston, MA, 1994, Intern
– Office of Senator Christopher J. Dodd, Newington, CT, 1992, Intern
– Hartford County Department of Probation, Hartford, CT, 1991, Intern

Neil Siskind’s Community Assistance:

Financed & operated a legal clinic providing low-cost legal services to struggling Long Islanders during the recession to help clients resolve debt, organize finances, and launch new businesses.

Neil Siskind’s Professional Curriculum Vitae: http://neilsiskind.com/

Sponsored Advertisements

Inventors, IP Owners, Manufacturers
Learn How To Bring Products To Market And To Expand Your Distribution Channels
The Complete Guide To The Ways To Manufacture & Sell Your Products

 

 

 

As We’re Waiting On Wage Growth, Here’s The Conversation No One Sees Coming- By NEIL SISKIND

As losses on the S&P 500 Index, the Dow Jones Industrial Average, and the Nasdaq mount, investors and the media continue to ask, “Why?”.

So … why are these declines happening?

The declines are due to concerns about slowdowns in the economy and in earnings due to the combination of rising interest rates, elevated oil prices, rising consumer product prices due to tariffs, excessive corporate and government leverage, slowing exports, the approach of the natural end of a long business cycle, and stagnant real wages. So- there is no one reason for the declines[1]. These concerns are leading to investors selling equities and moving capital to more defensive positions, including into cash.

It’s not the lack of animal spirits in the U.S., or a lack of liquidity that are of the causes of concern about the underling economy at this time, or even over the course of the next six months, even as interest rates “normalize” and as the Fed searches for a rate it deems to be “neutral”. It’s the geopolitical policies and constraints that are being laid atop the rising target Fed funds rate (and the related interest rates) that are pressuring markets and investors to face concerns that, otherwise, would, likely, because of the fiscal stimulus, need not be addressed until mid to late 2019. Geopolitical risks are unpredictable and difficult for businesses and consumers to plan around or quantify.

Growing costs from the combination of tariffs, interest rates, and energy prices, are not new costs only for businesses– consumers’ costs have also been rising due to the same factors- and all in the face of, largely, stagnant wages- and it could begin to affect revenue growth results in Q3 and/or Q4 of 2018, and in 2019. Investors are wondering where Q3 earnings and/or Q4 guidance will fall. Investors are concerned about revenues- and about margins.

When it comes to higher costs, investors and analysts have been asking whether businesses that are experiencing higher raw materials costs will take the margin hits, or pass the costs on to consumers. They forget to discuss the third option: businesses can cut other costs, to wit, labor, to avoid either eating the margin losses or raising their prices. Hiding behind the conversation that this nation has been having about wage growth is a completely contrary conversation waiting to reveal itself- one about layoffs.

Because of the growing and new expenses for businesses and consumers with which businesses must contend, revenues and profits are at risk. What can businesses do about lower profit margins[2]?

Can businesses reduce tariffs? Of course not.

Can businesses reduce the prices of oil and gasoline[3]? No.

Can businesses have the Fed reduce its target funds rate- or can businesses make the 10-yr. Treasury yield decline? Not likely.

Here’s what businesses can do. They can cut expenses and reduce overhead- by cutting jobs.

Not only will job openings decline if revenues continue to disappoint while expenses rise- so will existing jobs. (Paradoxically, even following layoffs, the number of job openings still may not decline in a significant way. This could occur if the jobs needed to be filled are those requiring rare and special skills. Such positions can remain open even upon layoffs, and may remain open and unfilled until the skills gap narrows, which could take years.)

Everyone has been wondering for months- actually, for years- where the wage growth is. Perhaps, it’s time to begin to wonder, instead, when the job cuts will come. People have been discussing how higher labor costs would affect businesses if wages start to rise in response to low unemployment, as the Phillips curve suggests; but no one goes on to the other potential conclusion- that companies don’t have to give raises if the unemployment rate declines. The Phillips curve- if it even lives- is a concept, or a “theory” (one that, in the age of globalized work forces, and in a time where larger and larger companies dominate, if not nearly monopolize their industries, takes longer and longer to take hold)- and not a law that demands raises. One common way that wage pressures are managed by businesses- like any other costs- is to cut them- with the remaining employees forced to pick up the slack. In times of slowing-growth, labor forces are strictly scrutinized to eliminate any of the slightest redundancies. Demand destruction takes place in labor markets as in any other markets where costs rise too high to be sustained by those paying them (especially as other costs also rise, or revenues slow). Even if wages rise temporarily due to labor supply pressures, they can also be the first thing to get cut as revenues and/or earnings decline.

I’ve written in the past that there is good inflation and bad inflation- and that the “timing” of the inflation makes it one or the other. Rising wages can be good, if they are accompanied by GDP and earnings growth, but not if they are running counter to such growth patterns- and certainly not if, in addition, other input costs are rising. This latter type of scenario does not lead to raises and bonuses- it leads to layoffs. While everyone has been waiting for wage pressures to materialize, all sorts of other cost pressures have appeared. Companies cannot pass them all through to consumers- or absorb them all.

We are in a jobs bubble, one fueled by monetary and fiscal stimuli; and like a stock, or housing, or any other bubble, it eventually pops when the financial underpinnings are exposed … and usually long before it’s expected or predicted. If businesses foresee growing costs in the pipeline, or the potential for lower revenues, they have to be pro-active, and not re-active, especially in public companies, where officers’ jobs depend on profitability, and even on stock growth. Layoffs should come as no surprise as the GDP declines- as everyone anticipates. As job losses mount and demand side stimulus contracts, the slowdown is exacerbated.

Could anyone really think that if interest rates rise, and stocks fall, and housing markets slow, and trade wars and related costs grow, and GDP declines, and export markets contract, and sanctions cause higher oil and gasoline prices for consumers and companies, and government and corporate debt levels inflate- people won’t lose their jobs? Unemployment is just one more liquidity-fueled bubble, like any other liquidity-fueled bubble, which gets resolved, among other ways, by the withdrawal of liquidity by the Fed. Except in this case- it’s not only the Fed, but also the White House that will help ensure that the bubble deflates- or pops- much sooner than later.

If earnings and/or guidance over the next couple of weeks disappoint, and companies, by and large, point to rising input costs from interest rates, oil, and/or tariffs as the causes- the conversation on your television and in the markets will soon be changing from one about “waiting for wage growth”- to one about “preparing for layoffs”. This would not take place until after the holiday season, including the January “gift return and exchange” season.

If, and as the economy slows, a military standoff or conflict might arise between the U.S. and China. Military conflicts often occur in slow economic times to distract people, to rally the citizenry through patriotism, and even to create jobs. Regardless of the potential for such ulterior motives, tensions with China are on the rise and could escalate in coming months. The trade war would be a secondary cause for any military conflict, with the primary impetus being the United States’ encroachment on Asia, as the U.S. and China continue to compete behind the scenes for the soul of Kim Jong-Un and North Korea, and as U.S.-Taiwan relations expand. Kim Jong-un’s effect on world politics and global instability will rise in 2019. Russia’s location, and, thus, interests in the region will draw it into the conflict. How this will affect the U.S. economy is, of course, an unknown- and something for which investors should prepare as best as possible by watching commodities and currencies as events begin to heat up. All the pieces are in place for tensions with China to escalate in the coming months- as the trade war is taking its toll on the Chinese economy, as Kim Jong-un continues to be used as a political pawn by the U.S. and China- and as he plays both ends against the middle, and as U.S. Navy warships are flaunting their strength in the Taiwan Strait. Does this sound like a blossoming friendship to you? In general, the present administration is determined to repress China’s rise as a (or as the largest) superpower, at any cost- as we have been witnessing on the trade front.

For now, the unemployment rate and jobless claims remain low; and job openings remain high and continue to go unfilled, while the CPI, the PCE, the household savings rate, consumer spending[4], and real wages are all, basically, stagnating. Personal wealth is declining as housing and stock prices are under pressure. Household debt is at an all-time high. Company revenues and margins are under pressure in many sectors. As the U.S.’s, China’s, Japan’s, and other nations’ consumers spend less on U.S. products, how can companies’ earnings grow?

All that can really be said about consumers in terms of purchasing power is that they have jobs. This is pretty much what any and all bullishness on the consumer comes down to at this stage. As company margins get squeezed by rising interest rates, tariffs, commodities prices, and other input costs, and as revenues disappoint because of a weakening or apprehensive consumer … let’s hope that this, at least, lasts.

 

______________________

Fn

1.    Many in the financial industry suggest that, in both the U.S. and China, it has been rising interest rates, financial regulations and crackdowns (in China), and withdrawals of liquidity, that have been the primary culprits for the recent slowdowns in economic and stock market growth, with tariffs being only a small part of each nation’s respective recent problems. While rising borrowing costs clearly affect companies’ earnings and cause multiple-contraction in equities, expectations on the other side of the scale, of revenues and earnings, must decline significantly in order to see the kind of volatility and declines we have been seeing of late on the indices of both nations. As time goes by, it’s becoming increasingly clear that tariffs (on top of rising interest rates and stagnant wages) are going to cause growing economic and financial stresses for businesses and consumers, and investors are responding to these realities.

2.    There are many ways for businesses to handle rising costs, including: Finding new places to source products; re-examining and making changes to product mixes; commodities price hedging; renegotiating vendor and/or customer contracts; limiting discretionary spending; renegotiating or cancelling leases, etc.- but, all of these options can take significant time, have significant costs, and have unknown results and ramifications. Layoffs are a more immediate and predictable cost-cutting measure, and can be, relatively, easily reversed if necessary to resume growth or to repair miscalculations. Moreover, cutting labor overhead may give an employer the exact result it needs- as opposed to other cost-cutting measures.

3.    Oil prices have been heading lower, lately.

4.    Consumer spending, while up 2.3% over last year, has been up and down in recent months. Even in the “up” months, healthcare and energy prices- necessities- as opposed to luxuries and discretionary spending- have been responsible for the higher numbers. Hurricanes have also been the cause of much of the spending, such as on replacement vehicles that were damaged in storms.

________________

endnotes

1.    Remember that the monthly employment rate includes government jobs. Just as I’ve written about how the GDP includes government spending, the employment rate includes government jobs that result from government spending. So, again, the GDP can grow and the unemployment rate can decline, but there are ramifications for the national debt and the budget deficit for these positive economic results when government spending helps to feed GDP and labor force expansions. We pay for this growth.

2.    Millennials will be in for a big surprise when their idealistic views about job and career selection, demands and expectations from employers, and idealism about work environments no longer are addressed by employers, as job options diminish. Millennials’ expectations of work, such as their dreamy ideas of things like the so-called “gig economy” and quitting jobs and dropping-out of the workforce to chase passions, will be realigned in a slowdown or a recession with the reality of how difficult it is to make money, and support a family, and buy a home, and take vacations, and plan for retirement- things with which responsible adults have to deal.

3.    As economic growth slows, and unemployment rises, I’d pay attention to any “modern economy” type of industries. Crowdfunding will be decimated, as the amateur “investors” who “tinker” in highly speculative investments through these services, reign-in their excess or discretionary spending. Contrarily, the cannabis industry will likely see explosive growth, either despite, or perhaps because of a slowdown, as people seek an escape, become cynical about our economic and political systems and their own opportunities, and as states seek to grow their tax revenues.

4.    One might want to consider the implications of significant defaults on student loans should unemployment rise.

5.    In my two most recent articles, I advised- or warned- that the economy and your stocks would decline long before Wall Street says. Just look at the major stock indices, and reported revenues, and earnings guidance since the publications of those articles. Even the 10-yr. Treasury yield is off its highs.

________________________

Neil Siskind is: President of The Siskind Law Firm, focused on product investments, trademark licensing, product distribution, and real estate; Founder & Chairman of The Fatherhood Assignment™, a think tank and advocate for children with absentee fathers; Founder of the global charity marketing initiative, Caring is Free®; Founder of National Fatherhood Day™; Owner & Conservator of The Neil S. Siskind Nature Preserve, over 8 acres of conserved waterfront land along New York’s majestic Hudson River; and author of The Complete Guide To The Ways To Manufacture & Sell Your Products. On December 11, 2017, in his article The Yield Curve Speaketh: Why Stocks Might Crash in Early 2018, Neil Siskind accurately predicted the February, 2018 stock crash, the largest single-day point drop in the Dow Jones Industrial Average’s history. In his September 26, 2018 article, Lots of “Bull” In The Bull Market: Let’s Look At What’s “Really” Growing, Neil Siskind explained how, despite Wall Street’s bullishness, the economic data and stock market underpinnings were in decline, and that the economy and stocks were at imminent risk. By the closing of markets on October 23, 2018, the S&P 500 had fallen approximately 7%, with October being the S&P’s worst month since August 2015, the Nasdaq continues to have its worst month since 2016, and is down approximately 8% from article publication, and the DJIA is having its worst monthly performance since 2008. If you are in need of office space in South Florida, contact Neil Siskind about space availability at The Siskind Executive Office Complex in Boca Raton, FL.

Other Recent Articles by Neil S. Siskind:

Don’t Forget The Farmers- by NEIL SISKIND

Each month the United States Department of Labor releases its “nonfarm” payroll report. But what about farm payrolls? Nonfarm payroll employment is a compiled name for goods, construction, and manufacturing companies in the US. It does not include farm workers, private household employees, or non-profit organization employees. This year, the average farm’s income is projected to be 35 percent below its 2013 level. According to the USDA, inflation-adjusted net farm income is forecast to decline almost 15 percent in 2018, to $65.7 billion, after increasing in 2017. There are many vital statistics and data points related to farming to be, and that are, analyzed in evaluating the state of farming and ranching in the United States. Farmers and ranchers are people, and are more than just statistics and names of monthly reports. This note does not do the topic justice and article merely as a means of reminding market watchers and investors that there are actually farmers behind the name “nonfarm payrolls”, whose situations must be considered as part of any analysis of the overall U.S. economy.

The Siskind Law Firm- Neil Siskind, Esq.-Licensing, Distribution, Real Estate, Business Law

http://siskindlawfirm.com/

Neil S. Siskind, Esq, pictured center, Holiday party, December 2016

 

Neil S. Siskind, Esq., President
The Siskind Law Firm
Tel: 646.530.0006

Neil Siskind is the Founder & Chairman of The Fatherhood Assignment
Neil-Siskind-photo
Learn more at:  http://www.neil-siskind-the-fatherhood-assignment.org/

Neil Siskind is the Conservator of the Neil S. Siskind Nature Preserve
Neil-Siskind-Picture

The Neil S. Siskind Nature Preserve is over 7 acres of environmentally-pristine waterfront land in a magnificent setting along New York’s majestic Hudson River. The Preserve includes a variety of species of animal and plant life, and is a precious example of the thoughtful maintenance of New York’s priceless open spaces. The land’s uses are limited to outdoor recreation such as hiking and climbing, and the study of ecology, nature and land use. The Neil S. Siskind Nature Preserve allows for the intelligent contemplation of our valuable natural resources and the most effective ways to maximize them and keep them protected.

Neil Siskind, Founder, “National Fatherhood Day” – March 29th

Neil-Siskind-pics
To encourage recognition of the needs of boys and girls who are living without fathers or father-figures in their lives.

Read about the non-profits and charities whose missions Neil Siskind supports and promotes: www.neilsiskindsupports.com
Caring is Free®

You can read what clients and associates say about Neil Siskind at: http://siskindlawfirm.com/neil-siskind-bio/.

Neil Siskind’s Volunteer Work:

– Memorial Sloan Kettering Cancer Center, Volunteer

– Memorial Sloan Kettering Cancer Center, My Fundraiser- Help Neil Siskindhelp children with cancer to be more comfortable: http://mskcc.convio.net/site/TR?px=3182108&fr_id=2632&pg=personal

– Make-A Wish Foundation- Help Neil Siskind make sick children’s wishes come true by creating your own fundraiser: Neil-Siskind/Help-Make-A-Child-Smile.htm

– DonorsChoose.org- Donate to one of my needy public classrooms: http://www.donorschoose.org/NeilSiskindGiving

– Champion Children– We seek to inspire people through stories of children who have overcome challenges: http://siskindlawfirm.com/neil-siskind-champion-children/


Neil Siskind’s Pro Bono
 Work:

– Saving Senior Citizens- Protecting New York’s senior citizens from fraud and financial abuse www.savingseniorcitizens.com

– Senior FreeStart Business– Pro Bono: We seek to help put senior citizens in the right direction so that they can face the challenges of the modern economy: http://siskindlawfirm.com/free-start-business/

– Veteran FreeStart Business– Pro Bono: We seek to help put Iraq and Afghanistan war veterans in the right direction so that they can face the challenges of the modern economy: http://siskindlawfirm.com/free-start-business/

– In development: The Neil S. Siskind School of Hope: A free school to teach inner-city youths the skills of entrepreneurship and importance of economic self-sufficiency.

Neil Siskind’s Government Work:

– Suffolk County District Attorney’s Office, Boston, MA, 1994, Intern
– Office of Senator Christopher J. Dodd, Newington, CT, 1992, Intern
– Hartford County Department of Probation, Hartford, CT, 1991, Intern

Neil Siskind’s Community Assistance:

Financed & operated a legal clinic providing low-cost legal services to struggling Long Islanders during the recession to help clients resolve debt, organize finances, and launch new businesses.

Neil Siskind’s Professional Curriculum Vitae: http://neilsiskind.com/

Sponsored Advertisements

Inventors, IP Owners, Manufacturers
Learn How To Bring Products To Market And To Expand Your Distribution Channels
The Complete Guide To The Ways To Manufacture & Sell Your Products

 

 

 

Neil-Siskind-lawyer-picture

A Housing Slowdown May Not Be All Bad News- by NEIL SISKIND

Housing prices have been too high for too long. People bought low in 2011 and 2012, low interest rates have fueled speculation, and corporate buyers have entered the markets to rent out homes for income- depleting inventories for home-buyers.

Recent reports on housing starts are mixed- down 14% in the mid west, up 29% in the northeast … so, mixed.

The Fed has been raising interest rates. Most indicators seem to show that housing is slowing. Assuming this to be the case, it may not be the worst news.

If the Fed can coordinate a “slow” deflation of asset prices (housing and equities) that have been inflated by excess (or excessive) liquidity, while people are working, this could be an excellent result (i.e a soft landing). Moreover, as construction jobs slow, it will free-up the labor market for small businesses who need the kind of employees that have migrated to construction (i.e. laborers or blue collar) and mortgage and real estate brokering (sales and office administration workers).

So, housing may not result in a 2007-like popping of a bubble that takes down the entire economy and financial system- it may have a more muted, and even beneficial result, as it helps keep wage inflation low.

Of course, it’s not all good news. As housing prices go lower, so does household wealth and refinancing, which negatively affects consumer spending.

This is all separate from issues related to energy prices, trade disputes and tariffs, shadow banking, and the other affects of rising interest rates. When you take economic data and factors together, rather than individually, the picture, of course, can change. But, taking housing, alone, a slowdown, making homes more affordable as people are still working, while also alleviating pressures on wages as labor is freed-up from housing related businesses, is not the worst thing in the world- especially if the benefits of lower housing prices outweigh the negatives of higher costs of borrowing to buy a home- so that net, net, buyers can do a bit better as asset prices decline. At the same time, home owners who are not selling, will not really be negatively affected by the lower valuation (beyond their general personal net worth). Fairer, or more balanced prices for both buyers and sellers may mean a more active and healthy market- rather than no one being able to afford to buy a home because no one can afford to move because they can’t afford a different home.

If net, net, jobs are not lost, or are easily replaced, and there is no negative systemic affect on the financial system, then lower asset prices (houses and equities) can be a healthy outcome for all.

The Ominous Fact Hiding In September’s Tame Consumer Price Index Report- By NEIL SISKIND

Owners’ equivalent rent of primary residence, which is what a homeowner would pay to rent or receive from renting a home, rose 0.2 percent in September after rising 0.3 percent in August. (Owners’ equivalent rents nationwide is a little vague and difficult to measure, if you ask me.)

This lower rate of growth is a good thing, as oil and gasoline prices (a little lower in September than in August), interest rates, and tariffs, have been rising- while wages, largely, have not. At least, consumers get some reprieve.

But here’s the rub: Some people think that if home purchases (single family homes or condominiums) go lower, it means that rental demand and rents will rise[1]. And, if rents decline, they think that it means home ownership demand is strong. It’s a possible correlation at times, but it’s not, necessarily, true. It can simply mean there is a market imbalance- specifically, an oversupply.

Weak housing markets begin at the highest price-points, with homes that are owned by investors and second home owners (and those who bit off more than they can chew during good times) hitting the market- and with the weakness and growing inventories trickling down. This leads to investors and second homeowners capitulating and deciding to rent-out their homes while the house sits on the sale market. This adds to the rental inventory- starting at the highest points, and then hitting the markets below.

The lower than expected CPI may be and probably is, when combined with other recent housing, home loan, mortgage rate, and home-builder data, indicating a slowing housing market, with sales taking longer than expected for investors and second home owners, which is causing rental inventories to rise simultaneously with sales inventories-  rather than indicating that renters are deciding to buy.

It’s not only that inflation is tepid- underlying growth is slowing. You won’t hear many on “Wall Street” acknowledge that growth is already slowing (while many acknowledge a slowing to begin next year- and many have changed from 2020 to 2019 on that issue), because “Wall Street” ignores, or fails to understand the economics of real estate- which is how they, and we all, got into trouble in 2007- and why, even at this late stage in the cycle, investment funds are raising capital to buy office buildings and warehouses- at inflated prices and low cap rates that rents will not support.

__________________________

fn

  1. This can be true, but rents would only rise if rental inventories are low at such time. It depends on inventory levels- supply and demand.

 

Neil S. Siskind, Esq., President
The Siskind Law Firm
Tel: 646.530.0006

Neil Siskind is the Founder & Chairman of The Fatherhood Assignment
Neil-Siskind-photo
Learn more at:  http://www.neil-siskind-the-fatherhood-assignment.org/

Neil Siskind is the Conservator of the Neil S. Siskind Nature Preserve
Neil-Siskind-Picture

The Neil S. Siskind Nature Preserve is over 7 acres of environmentally-pristine waterfront land in a magnificent setting along New York’s majestic Hudson River. The Preserve includes a variety of species of animal and plant life, and is a precious example of the thoughtful maintenance of New York’s priceless open spaces. The land’s uses are limited to outdoor recreation such as hiking and climbing, and the study of ecology, nature and land use. The Neil S. Siskind Nature Preserve allows for the intelligent contemplation of our valuable natural resources and the most effective ways to maximize them and keep them protected.

Neil Siskind, Founder, “National Fatherhood Day” – March 29th

Neil-Siskind-pics
To encourage recognition of the needs of boys and girls who are living without fathers or father-figures in their lives.

Read about the non-profits and charities whose missions Neil Siskind supports and promotes: www.neilsiskindsupports.com
Caring is Free®

You can read what clients and associates say about Neil Siskind at: http://siskindlawfirm.com/neil-siskind-bio/.

Neil Siskind’s Volunteer Work:

– Memorial Sloan Kettering Cancer Center, Volunteer

– Memorial Sloan Kettering Cancer Center, My Fundraiser- Help Neil Siskindhelp children with cancer to be more comfortable: http://mskcc.convio.net/site/TR?px=3182108&fr_id=2632&pg=personal

– Make-A Wish Foundation- Help Neil Siskind make sick children’s wishes come true by creating your own fundraiser: Neil-Siskind/Help-Make-A-Child-Smile.htm

– DonorsChoose.org- Donate to one of my needy public classrooms: http://www.donorschoose.org/NeilSiskindGiving

– Champion Children– We seek to inspire people through stories of children who have overcome challenges: http://siskindlawfirm.com/neil-siskind-champion-children/


Neil Siskind’s Pro Bono
 Work:

– Saving Senior Citizens- Protecting New York’s senior citizens from fraud and financial abuse www.savingseniorcitizens.com

– Senior FreeStart Business– Pro Bono: We seek to help put senior citizens in the right direction so that they can face the challenges of the modern economy: http://siskindlawfirm.com/free-start-business/

– Veteran FreeStart Business– Pro Bono: We seek to help put Iraq and Afghanistan war veterans in the right direction so that they can face the challenges of the modern economy: http://siskindlawfirm.com/free-start-business/

– In development: The Neil S. Siskind School of Hope: A free school to teach inner-city youths the skills of entrepreneurship and importance of economic self-sufficiency.

Neil Siskind’s Government Work:

– Suffolk County District Attorney’s Office, Boston, MA, 1994, Intern
– Office of Senator Christopher J. Dodd, Newington, CT, 1992, Intern
– Hartford County Department of Probation, Hartford, CT, 1991, Intern

Neil Siskind’s Community Assistance:

Financed & operated a legal clinic providing low-cost legal services to struggling Long Islanders during the recession to help clients resolve debt, organize finances, and launch new businesses.

Neil Siskind’s Professional Curriculum Vitae: http://neilsiskind.com/

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