I do exactly what I say I'm going to do. I see financial stuff, I round it up, and I get sarcastic about it all.
China is now Iraq's biggest oil customer. This is one of those no-kidding things that should have part of the forecast prior to the US withdrawal from Iraq. The message to the world is that bad things happen when the US comes into your country and good things happen when China comes in. The downside for Iraq is that China will soon be printing inflated currency to pay for Iraqi oil. Oh, so will we.
China's property prices keep rising. Maybe China could do an in-kind trade of real estate for Iraqi oil. I don't think Iraqis are dumb enough to take that trade. No investor would want to be stuck with overpriced bursts, except of course newly urbanized Chinese who will pay anything for what the believe is a step up from a farm.
We have some pretty dumb real estate investors here in San Francisco. Home prices in The City are way up so far in 2013, although they are nowhere near their 2006 highs. I'm looking to buy some property myself but not at these prices. Homes are not at fair value until they're a low multiple of the median income for a given MSA. I'm not buying anything at a premium to fair value.
I just have to note that one particular Stolen Valor fraud may be cooking up some more websites. I just can't wait to see them when they're ready. I also can't wait to watch a long string of honest people testify against him in court. They'll do exactly what they say they're going to do.
