Last week the Dow Jones Industrial Average passed the 10,000 mark for the first time in a year. Many cheered this development believing that re­surgence in the stock markets delayed economic recovery.

At the risk of being overly doom-and-gloom the real estate markets are poised yet again to crash. Such a situation is likely to trigger a second wave of foreclosures on com­mercial and residential proper­ties across America, pulling down recently recovering construction bond and equity markets.

Rising foreclosures means more consumers are defaulting on their mortgages. Many of these defaults are on loans made by banks in the last several years that have been structured as long-term loans (30+ years). When a borrower defaults on a $200,000 30-year loan three years in, the bank essentially loses the entire $200,000. The last thing fragile banks need now are more foreclosures to increase the number of bank failures.

Here are three warning signs of a new tsunami of foreclosures from CNN Money’s Katie Benner:

Special Servicers

Firms such as LNR Prop­erty, CW Capital, and Center­line are tasked with unraveling the most troubled loans in a last ditch attempt to keep them from default. An uptick in business at these companies means more borrowers under duress.

Big Projects

When rents and property values fall, apartment com­plexes, malls, hotels, and major projects financed during the bubble become more likely to default on their debt.

Regional Banks

Watch to see how banks such as Fidelity Southern and United Community Banks — identified in a SunTrust Robinson Humphrey report as having a high proportion of noncurrent construction loans — hold up over the next few months. Community banks were especially aggressive in originating commercial real estate loans, but they could still manage to avoid big prob­lems.

On the bright side, allow­ing the real estate markets to hit their bottom may be the only real way to begin recovery. With prices at rock bottom, commercial and residential markets would hit a real equilibrium and entrepreneurs could swoop up buildings for next to nothing while tenants and buyers will be able to lock into long-term low-priced deals.

This ‘reset’ of the markets would be a boon to real estate and the economy as a whole. Though a reset such as this looks great on paper, the reality is people and businesses will be kicked out of their current dwellings, potentially causing significant damage to the economy as a whole.

Can U.S. markets han­dle a second foreclosure spree, especially one that includes a large amount of commercial real estate? Sadly, no one has the answer. The best we can do is prepare for the worst while keeping an eye out for opportunities created by this situation.

As everyone is aware, the markets have been performing in a rather crummy fashion for quite a while. No investment is safe, and it seems that turning a profit in the struggling markets has gotten more difficult with each passing month. Still, the economy has shown signs of recovery, which has prompted many to ask just what would signal that the world economy is in for worse.

Well, my friends, that signal has arrived, in the form of a South Korean parrot.

According to a recent­Telegraph article, a five-year-old parrot named Ddalgi (or “Strawberry”), outperformed eight of ten stock investors compet­ing in a six-week test of trading prowess. Ap­parently, the bird made it’s stock choices by randomly selecting blue balls (representing blue chip stocks) with his beak.

I can only imagine the embarrassment of the underperforming investors and the deep relief of the two guys who managed to come out ahead.

Now, I’m a fan of the stock market, and I think the world economy will recover from this mess. But when a bird named Strawberry beats eight investors, maybe it’s time to call it a day – or buy a parrot.

Matthias Clock is a PPE student at The King’s College. He edits and runs a financial blog, The Fifty Cent Inves­tor. His blog can be read at 50centinvestor.wordpress.com

The King’s Debate Soci­ety returned successfully from its second debate competition of the year at Yale University in New Haven, Connecticut. While not placing, the Debate Society was able to demon­strate that a small college debate program, with limited funding, can compete on the same level as larger, more established debate programs.

Schools in attendance included Princeton, Stanford, Duke, Penn, Harvard, and Yale. Debaters included Kris­tin Rudolph, Matthias Clock, Pam Dodge, Andrea Mel­linger, Emma Schalberg, and Jake Bedlion. King’s teams competed against and defeated teams from Penn, Princeton, Duke, and Stanford.

Dodge, Vice President of the King’s Debate Society, described the competition as “the best that we’ve faced,” and said, “We did well, and I have hope for the future of our program.”

The debate topics ranged from the number of troops in Afghanistan to Medicaid fund­ing abortions. These topics provided a challenge to King’s students who have learned to argue both sides of these cur­rent issues.

According to Schalberg, the tournament was effective in exposing King’s to the greater academic community. The next tournament will be in mid-November at Western Connecticut State University.

I’m sitting on the edge of a high school dance taking a breather from shaking my thing to Usher and Beyonce. My then boyfriend sits next to me, holding my hand. Then, it happens; he turns to me, the disco lights making his eyes sparkle.

I lean in so nervous I could burst, we both pucker our lips, and the moment I dreamt about for years was over in a second: I had my first kiss.

Aside from the smelly heat of the room, the loud music with that obnoxiously loud bass beat, and the people dancing on boxes in front of us (public school, kids), I felt kind of happy. A new door had been unlocked for me: I had been kissed.

Whether the only kiss you’ve ever received was in preschool, it’s the first kiss of a new relationship, or anywhere in between, this article is for anyone who will be locking lips and wants to do it right.

No first-timers, I’m not going to give you a play-by-play on the physics of kissing. Part of the fun is the mystery (if you really want some tips, pay at­tention to Will Smith’s advice in the movie Hitch).

But what I will do is give you my top three best and worst places to have a first kiss in New York City and why. As the above story suggests, the setting of my first kiss was pretty lame. I’m helping you avoid that same mistake.

The 3 Worst Places for a First Kiss

3. On the street during peak hours. You will get pushed, beaten, knocked down, cursed at, etc. by the maddening crowds (most of them fellow King’s students on their way to class). Profanities tend to take away the beauty of the moment.

While I know that poster of that couple kissing at Times Square during wartime is romantic, re-enacting that during the wartime of rush hour is neither cute nor roman­tic. It’s obnoxious.

2. A carriage ride in Cen­tral Park. It’s too typical and way too cheesy (this may be a personal preference). Plus, it will seem staged and the point is to make the first kiss seem as unplanned as possible. It’s about the person, not the kiss. Oh, and the carriages smell like poop.

1. The absolute worst place to have your first kiss in New York City is in any of the Herald Towers or Vogue apartments. This includes the roofs (HT would be cool, but that’s banned and the Vogue is too busy), balconies (it’s an extension of the apartment, people), and fire escapes (this wouldn’t be too bad. Talk to Shawn Best to see if you’re allowed, first).

There is no reason why, when you live in a place like New York City, you should have your first kiss on a King’s couch. Unacceptable.

There are so many romantic places (and not cheesy typi­cal romantic, but genuinely heart-fluttering, uncontrollable smile, butterflies in stomach places) in this city that it’s sickening.

If you’re lucky enough to have someone to kiss in this city and you don’t capitalize on the breathtaking views and “chick-flickian” opportunities, shame on you. Not only are you missing out, but you’re depressing the single people around you because we all know we could do it better.

The 3 Best Places for a First Kiss

3. The Ramble at Central Park. Find a clearing in the woods, walk a trail, or find a small bench under a lamp post. Any season works and they all have their charms. This is number three because there are woods all over the United States. But, these are the Central Park woods. Now, picture yourself telling your friends about that kiss. Makes a difference, huh? The runner up for this spot is the Reservoir at night.

2. Any bridge in New York City. Walk to the other side holding hands (build up is important), take in the view of the city, and kiss. Two tips though: stay out of the bike lane (unless you’re think­ing more Romeo and Juliet tragedy), and do this at night. The city lights twinkle like the stars we can’t see.

1. The most romantic place to have a first kiss is in front of the fountain at City Hall (conveniently located next to the Brooklyn Bridge if you wanted to continue the date). At night these charming gas-lamp posts turn on, and the entire fenced in garden feels magical. This kissing point is best in the spring, summer, and fall, because the city turns off the water in the winter. It’s slightly obscure but easy to find.

The best first kiss places in the city should be natural and fully New York, but it should also fully encompass your personalities. If you always go to the same Little Italy cannoli shop together, buy a cannoli then pucker up.

Or, if you love the water, head down to Chel­sea Piers and watch the sunset. And while you really should avoid those carriage rides, remember to keep the first kiss as unplanned as possible (un­less you’re waiting till “I do”). Let the kiss beautifully express how you feel about each other.

You may ask me what my best first kiss was, and well, I’ll tell you. I was sitting on the beach next to my then boyfriend. After asking me, he gently took my face in his hands and kissed me very sweetly. And in the words of Celine Dion, “it was so long ago, but it’s all coming back to me.”

A good kiss lingers with you and will give you such a high that your Chamberlain may suspect sub­stance abuse. Don’t cheapen the kiss by feeling pressured. Let it happen. Also, remember to brush your teeth.

Katelyn Miller (PP&E ‘10) is a mem­ber of the House of Susan B. Antho­ny. To seek advice from the Sexpert, e-mail kmiller@tkc.edu.

The King’s Council is holding its annual fall concert on November 5, from 8 to 11 pm in the Student Lounge. This year’s Battle of the Bands theme will allow bands from the college to compete for the winning title. Audience mem­bers will pay a dollar to vote for their favorite band, and all proceeds will go toward providing Thanksgiving din­ner for less fortunate families at the Bowery Mission.

Admission is free of charge. The event will include free pie, coffee and hot cider.

“The Fall Concert hopes to bring King’s together around music and a great cause,” Director of Student Events Lindsey Stoehr said. “Hopefully it will be an escape from New York City.”

The Artisan’s Guild will host its fifth annual Fall Festi­val in the City Room on Friday, November 13. The theme is prohibition, and guests are en­couraged to dress in costumes from the prohibition era.

The event will include hors d’oeuvres, a black-and-white photo contest, and student artwork from the drawing class. Cost of admission is to be determined.

“We want people to get excited about the arts here at King’s and engage the city through art,” Artisan’s Guild Vice President Sarah Ruth Boyer said. “Hopefully it will bring the community together around the arts.”

Nov. 10 P.J. Hill, Wheaton College economics professor

Nov. 12 Michael Horton, Author of The Gospel-Driven Life and Christless Christianity

Nov. 17 Alexis Brunner, Creative director, Animal Planet (interview by Harry Bleattler)

Nov. 30 Tim Keller Pastor, Redeemer Presbyterian Church, and best-selling author Jewel, and other books

Before leaving for college, I asked myself many questions. Who will I hang out with? What will I decide to study? How often will I eat? Will my roommates and I get along?

One question I never thought I’d ask myself is: How many of my classmates will still be here next year—or even next semester?

I don’t know how many freshmen don’t plan to return to King’s—either in the spring, or next fall. I have discovered among my fellow freshmen that it tends to be a touchy subject; nobody really wants to talk about it.

Of the students I have spoken with, major reasons for leaving have come to the surface. I believe these issues need to be addressed by the administration.

Some freshmen worry about our school’s production of suc­cessful professionals. It’s clear that King’s is not a degree mill, but where are the success stories that motivate us to work hard? We understand the school is still trying to make a name for itself, but as students we want to see King’s graduates who have made a name for themselves.

With that, many students are confused about its accreditation, which the school informed us of at the beginning of the semester. What is that all about? Is the school I am working so hard for actually a school that will get me somewhere? These questions can be easily answered, but who is going to answer them?

King’s students are not naïve about the fact that King’s needs money. And, it doesn’t take a business major to know that the school makes money through tuition revenue. At the same time, the students that love this school and believe in its mission statement do not think that some of the freshmen belong here.

The question we are now faced with is: Is it right to put aside school values in order for the school to make the money that it needs? Sounds like an avarice lesson if I have ever heard one.

I love this school, and I understand that it needs to meet certain quotas so that it can keep its doors open. It’s a harsh reality, but allowing a student who doesn’t belong here to stay is not the way to go about keeping the school alive.

I am not speaking of those who are strug­gling academically, but of those who came knowing the mission statement, yet do not believe in it or desire to live by it.

The irony is that the freshmen who do belong here are leaving for the same reason. I have talked to numerous students who consider leaving because they believe they can go to a different school where the students are actually grown-up and believe in the mission statement of the school.

There is no doubt that King’s is a special place, where the students love to participate in making it a better school.

As a freshman, I believe the worries of my fellow classmates are not being addressed by the school. And as a King’s student, I desire to “transform society,” begin­ning with the community that immediately surrounds us—our school.

This will take teamwork, among freshmen, upperclassmen, staff and faculty. We can address the issues that many freshmen are dealing with, and we’ll be a stronger school because of it.

New York City was the 39th stop on Donald Miller’s A Million Miles Tour featur­ing Susan Isaacs. A moderate crowd gathered Thursday night, October 22 at St. George’s Calvary downtown for an evening of monologue and oratory reflection on the meaning of a good story and its respective aspects. Miller’s latest release, “A Million Miles in a Thousand Years” (AMM) was available for purchase.

Miller’s monologue emphasized the story and mes­sage behind AMM. Birthed out of his experience working with a movie maker on his story, Blue Like Jazz, AMM embodies Miller’s reflections on effective and meaningful storytelling. It aims to answer the questions: “What makes a story meaningful? What makes a story work? What makes a good protagonist?” and perhaps most significantly, “How does Christianity fit into the story-making process?”

He introduced the concept that the same things that make a good story are also the same things that make a good life. Miller pursues this mentality within his own life, and ulti­mately invites his readers to do the same.

“The real question to answer is what makes a good life? How do you have a mean­ingful life?” Miller said. In AMM, he pursues the answers to this question and invites his readers to do the same.

But why the emphasis on storytelling at all?

“Stories tell us what is beautiful and profane, what is worth living for and worth dying for.” Miller said. “They help us develop our moral compass and our values. They help us identify what is mean­ingful.”

Perhaps even more com­plex was the concept that all people long for a story, and that all of the aspects we look for in a good story are aspects we look for in life: meaning, beauty, a meaningful life, cli­max, and good characters.

While perhaps lacking in a solid statement of God’s role in our stories, Miller’s words are effective in inviting the reader and listener to view their lives as a story, and posits that the stories we live are among the greatest influences to culture.

“We affect culture by tell­ing good stories. Tell better stories, define what we want and go after it.”

After much debate, the namesake choices for the new girl’s house slated to arrive on campus in Fall 2010 boiled down to three contenders: Barbie, Sarah Palin, and Betty Crocker. After various bribes (including small plastic shoes, Eskimos, and double chocolate cupcakes) Betty Crocker won by a landslide.

The house exec team, yet to be announced, is hard at work cooking up a laundry list of values and icing the cake of their mission statement. Sources tell the ESTrib that the house (or as they prefer to say “the home”) has settled on the key values of hospital­ity, domesticity, femininity, docility, modesty, and fertility. Their mission statement reads simply, “We the ladies of the Home of Betty Crocker seek to be subdued.”

Proposed house events include instituting a semi-annual bake-off, providing room cleaning and turn-down services for gentlemen’s resi­dences (before privacy hours, of course!), and crocheting doilies for the café.

The ladies of the Home of Crocker plan to take City “Engagement” to a whole new level with their annual “Ring in the Spring” cotillion, where pastel-clad debutantes and their clean-cut fiancés (from the imminent House of Mr. Darcy) will pour over complementary bridal magazines and admire each others’ Tiffany and Co. engagement bands.

Professors wondering how these bundles of domestic joy will fare in the rigorous academic atmosphere of TKC should be aware of some changes to the College Writing I curriculum, wherein passive voice will be accepted from any female author.

There are even talks amongst the admin­istration of launching a fourth major to suit the ladies of Crocker home: TLC (Teach­ing, Laundering & Culinary Arts). The major will include core classes in home engineer­ing, home educating, natural family planning and making your man proud. Members of Crocker home are expected to homeschool their brood of children in the near future.

The Home of Crocker will be the perfect addition to the house system. After all, King’s women are known first and foremost for their housewifery and submissive demeanor.

Spotted: Sitting alone at a café table in Bryant Park.

Name: Olivier

Age: 27

Occupation: Works in market­ing for a fragrance company

Neighborhood: Hell’s Kitch­en

Native or No: No. He’s from Paris but has lived in NYC for three years. “I wanted to move here because of the city.”

Favorite Place in NYC: Bry­ant Park. “It’s my favorite park in the city.”

Coffee Shop Suggestion: Cupcake Café on 9th and 40th. “It’s not a Starbucks.” And they have great cupcakes.

Interesting Thing You’ve Done in NYC: “This year I went to Fashion Night Out. It was so cool. I went to a lot of parties.”

I Love NY:

“I love New York. It’s the city that never sleeps. There’s al­ways something to do. There are always new restau­rants, new bars, new parties. You have access to culture, museums, and ballet. It’s a big city but you can walk everywhere. It’s close to Europe. Each part has its own identity. New York is very similar to Paris.”

Something surprising:

“When I came over here, I did not expect New York to have any history. I thought it would be a bunch of new buildings, but it has a history.”