Varney: "The Banks Will Take the Hit."

My Fellow Americans,

In an interview with Bill Hemmer on America's Newsroom on November 25th, Fox News contributor Stuart Varney explained how the commerical real estate market could really take a hit early next year if retailers do not see a sharp increase in holiday sales over the next month.

With the banks holding the mortgages for these malls and shopping centers, if December proves to be a poor month for retailers (as is projected) Varney said: "The banks will take the hit."

As the number of new jobless claims fell to 466,000 last week (the lowest level in a year), you have to wonder what exactly jobless numbers could be in the 4th quarter of 2009 and 1st quarter of 2010 if some of these retailers fail (many are on the brink per Varney).

I see no way how commercial real estate will not follow the path Varney explained above. People do not have the ability to buy as much this year. That is just plain fact.

Just look at the decrease in air travel that is expected for this Thanksgiving holiday: nearly 200,000 less travelers than last year.

With families having less disposable income due to layoffs or pay cuts, I just don't see how this can turn around next month.

Expect more failed banks, more failed businesses and more layoffs.

Doom and gloom? Maybe. Good chance of becoming reality? You bet.

If only our 'fearless' leaders would let the markets correct themselves naturally...