Bomb Crater 2/23/21

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4 AM ET

  12 hours ago, Jimi said:

 

Lovely serene photo.

Those are Roman ruins in the foreground, I betchya.

Christian habit of erecting their temples where the Pagans had theirs.

 

Thanks Jimi-

I live one block from there. It’s the largest square in Poluotok, which means Peninsula, the old town of Zadar. It’s a fantastic setting.

The old town is about 5 blocks wide and 9 blocks long from the tip, to where it connects with the mainland. To the southeast is the bay, across which is the hilly island of Uglian. The harbor and is on the other side, to the southeast. The open Adriatic lies northwest from the end of the peninsula.

https://www.google.com/maps/@44.1002824,15.1969576,13.5z

That church is actually the chapel of a 900 year old convent. The Cathedral of St. Donate is off to the left of the square, and to the left of that, toward the foreground is another church. Behind it is the Main Street with all the shops, restaurants, bars, and cafes, which remain closed. The rear of the plaza toward the main street is normally the patio seating of several of those cafes, always filled with people.

This is a photo that I took when I was here before, when everything was open. This is diagonally opposite the square from the first photo.

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As serene and peaceful as it looked yesterday from the other angle, it’s normally very lively.

And in the summer, it’s an absolute zoo. This is a very popular summer resort for Austrians, Poles, Czechs, Slovaks, Germans, Swedes, Norwegians etc. etc. Both for couples, singles, and families with young kids. It’s a zoo!

IMG_20200626_205126.jpgThis is about 100 feet away from the first shot. You can see the chapel in the background.

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This is the Tribute to the Sun, which is right next to the Sea Organ. The square in the first photo is about 200 meters away.

The Allies- US and Brits, bombed the crap out of this area in WW2.  Croatia was allied with Italy and Germany under the Ustache, whose history you can read about. I won’t go there.  It remains a controversial and touchy subject to this day. As most societies, like the US, Croatia is deeply divided politically between the left, right, and far right, which still has a lot of support.

The town was rebuilt postwar, but huge swaths of it, including the building where I’m living, were drab, communist style apartment blocks built from the late 1940s through 1970s. The development pattern is haphazard, and extremely dense, and today, most of the buildings are really dilapidated on the outside.

Actually though, the density, and the clotheslines out front with everyone’s underwear hanging out to dry, give the neighborhood a certain “homeyness.” But this neighborhood, even with all the hanging underwear, and rugs and linens, and you name it, is chock full of sophisticated eateries, cafes, shops, etc. And no cars, except on the perimeter street, where the traffic is very light. The city marketplace is 2 blocks away.

These apartment blocks are co-ownership properties, essentially condominiums, but don’t have HOAs that will spend money on exterior maintenance. Through the years, many of the apartments have been renovated into modern, state of the art European style flats. Small, but efficient.

I love it here, but I’m ready to get moving again!

Speaking of bomb craters:

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They rallied late in Asia, but Europe started selling and continues to sell here at 4:30 AM in NY, 9:30 in London, 10:30 in Frankfurt, Paris, and here in Croatia.

The 5 day cycle projection currently looks around 3845, but fluid.

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This is a syndicated post, which originally appeared at Stool Pigeons Wire at Capitalstool.comView original post.

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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also publish LiquidityTrader.com, and was lead analyst for Sure Money Investor, of blessed memory. I developed David Stockman's Contra Corner for Mr. Stockman. I’ve had a wide variety of finance related jobs since 1972, including a stint on Wall Street in both sales, analytical, and trading capacities. Prior to starting the Wall Street Examiner I was a commercial real estate appraiser in Florida for 15 years. I was considered an expert in the analysis of failed properties that ended up in the hands of bank REO divisions, the FDIC, and the RTC. Remember those guys? I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. I'm not some Ivory Tower academic, Wall Street guy. My perspective comes from having my boots on the ground and in the trenches, as a real estate broker, mortgage broker, trader, account rep, and analyst. I've watched most of the games these Wall Street wiseguys play from right up close. I know the drill from my 55 years of paying attention. And I'm happy to share that experience with you, right here. 

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