Wednesday, September 19, 2007
UN Warns: You're Out Of Control And You're Drifting Into Another War
The UN's chief nuclear weapons inspector yesterday warned against the use of force against Iran, in what UN officials said was an attempt to halt an "out of control" drift to war. His outspoken remarks, which drew a parallel between Iran and Iraq, appeared to take aim at the US and Britain
Drift into war with Iran out of control, says UN
Drift into war with Iran out of control, says UN
Powered by ScribeFire.
Friday, September 14, 2007
Economist: Houses built on sand
Research by David Miles and Vladimir Pillonca of Morgan Stanley concludes that there are likelier candidates than America for a housing bust. In a recent paper covering 13 European countries as well as America, they assess how much of the rise in property values in the past decade can be put down to bubble-like optimism about future price increases. The authors constructed a model in which housing demand is driven by rising real incomes, population growth and declines in real interest rates. They then estimated the downward effect on prices from increased homebuilding. They argued that what is left—the part of price rises that is unexplained—is without substance and vulnerable to a correction.
In six countries—Belgium, Britain, Denmark, Greece, Spain and Sweden—real house prices have risen much faster than the model predicts. But in the remaining five countries, the average “excess” increase in real house prices is 47%. Some of the paper's results challenge accepted wisdom. Ireland's housing boom, often seen as a spectacular bubble, is almost entirely explained away by rapid real-income growth, rising population and the drop in real interest rates. Nevertheless, Irish house prices are now falling, if modestly.
More here...
In six countries—Belgium, Britain, Denmark, Greece, Spain and Sweden—real house prices have risen much faster than the model predicts. But in the remaining five countries, the average “excess” increase in real house prices is 47%. Some of the paper's results challenge accepted wisdom. Ireland's housing boom, often seen as a spectacular bubble, is almost entirely explained away by rapid real-income growth, rising population and the drop in real interest rates. Nevertheless, Irish house prices are now falling, if modestly.
More here...
Powered by ScribeFire.
Friday, August 03, 2007
Wednesday, August 01, 2007
An alternative view to Ireland the 2nd Wealthiest Nation in the World
According to Bank of Ireland’s Wealth of the Nation Report (Hat tip Finfacts), we are the second richest in the world after the Japanese. However, we sacrifice entertainment, fun practically everything to get ownership of an over valued piece of property especially when the Bull McCabe mentality kicks in.
Read on...
Read on...
Powered by ScribeFire.
Tuesday, July 31, 2007
Thursday, July 19, 2007
Are these the last days of the Oil Age?
Oil ruled the 20th century; the shortage of oil will rule the 21st.
Last Tuesday the lead story in The Financial Times was the latest report
from the International Energy Agency. The FT quoted the IEA as saying:
“Oil looks extremely tight in five years’ time,” and that there are
“prospects of even tighter natural gas markets at the turn of the decade”.
For an international agency, that is inflammatory language. This steep rise
in the oil price over a four-year period has been caused by demand rising at
more than 2 per cent a year, while supplies had risen more slowly, by a
healthy 4.1 per cent in 2004, but by only 1.25 per cent in 2005 and 0.5 per
cent in 2006.
Read on...
Powered by ScribeFire.
Subscribe to:
Posts (Atom)
