San Francisco Transbay Transit Center Construction, Economic Depression Claims
San Francisco is undergoing a $4 billion to $6 billion construction project for a massive bus terminal and transit hub intended to connect to a future high-speed train from Los Angeles. The project includes plans for the tallest building west of the Mississippi, despite a local economic downturn described as a depression. Local real estate reports indicate a 40% bankruptcy rate among office space clients in the area as businesses shift toward telecommuting to avoid rent.
san francisco· transbay transit center· high-speed rail· economic depression· real estate· gitmo nation
00:00 No, people can function normal in society as heroin addicts and that's what the government would love. Adam Curry, John C. Dvorak. It's January 7th, 2010, time for your Gitmo Nation media assassination, episode 163. This is no agenda. Shaking my boots from the jackhammering as I come to you live from the minimum security containment cell crackpot command center in Gitmo Nation, West San Francisco, California with cracks on the wall in the morning. I'm Adam Curry. And I've got sun in my eyes. It's hot here in Northern Silicon Valley. I'm John C. DuBois. It's Crackpot and Buzzkill. In the morning. Hey, in the morning to you Johnny boy. So I had to reboot the machine, the router and the modem. And your pacemaker. And it's really helped.
00:51 Knock me down. It varies, it's going up and down. I don't know what it is. It's uh, you know, it's just... You don't think the jack... Tell us about the jackhammers. Yeah. So they're building the world's largest bus terminal outside the crackpot command center in San Francisco. And of course it was kind of quiet over Christmas and New Year's. Wait, wait. What? Hold on a second. Stop everything. Okay. They have a bus terminal already. Yeah, no, it has to be larger. I've been to that bus terminal. It's dead empty 90% of the time except for the hobos that sleep on the benches. Yeah, no, they're building, it's a $4 billion project for phase one projected to go to $6 billion including the high-speed train from Los Angeles and an entire shopping... By the way, you know that the budget for that high-speed trains are already without even breaking ground has already quadrupled. Oh yeah.
01:45 and there's going to be an entire shopping promenade which will encompass most of I think it's supposed to be like from Folsom to Market literally. Who's going to go to this except the bums and the hobos? Well, it's going to be nice and sheltered for them. Yeah, that's true. It's probably a good thing. It'll be a giant shelter. And they're also building one of the, no, it will be the tallest building west of the Mississippi. Which would be a... Hey, have they noticed that we're in a recession? I would add a D to that, John. I would say it's a depression. And why are they building... What's the point of this building? They've got office space they can't get rid of now. By the way, I was over at the Ziff Davis building, which was on second and which is in that area in the neighborhood. In fact, there's a couple blocks where you live. And we're up on the ninth floor. It's empty.
02:38 then besides our building is empty but you can look across at the building across the way right across the street and you can look right into the building and you can see right through the entire building to the building behind it because this building is bone dry. There's nothing in there. I know, I know there's no one there. We were just talking to a real estate agent in Gitmo Nation Lowlands and she says that because she runs a lot of office space, she said 40% of all of her clients went bankrupt in the past two months. and those that didn't go bankrupt are trying to get out of their lease because they just want to work from home. They can't afford it. Send everyone home, have them all telecommute. They can't afford rent anymore. This by the way, where the government said, oh the crisis will pass us by. There's no crisis here. Nothing's going to happen whatsoever. We're good. Don't look over here. Nothing to see here. Look at that. That's in Poland? Yeah.
