Links – 29/03/07 – Part 2

Sell Shanghai(FT)

PM: All those Shanghai suckers who are about to discover what a market crash feels like.
NH: Oh, you selling China again?
PM: Too right!!! I’m putting a four-star SELL on Shanghai right now.
NH: Why now?
PM: Well, Shanghai was only up another 2.4% last night – fourth straight day of gains. New intraday high etcetc.
PM: Oh, and ICBC – industrial and commercial bank of china – was up 6.4 per cent. It’s now bigger than Bank of America.
NH: No! it was bust a couple of years ago – on paper at least.

Hands up for a Housing Crash!(dailyreckoning)

is that if home prices in the US have peaked, and are expected to stay below that peak on a real price basis for the next three years, then the Fed will cut rates and cut them significantly over the next few years in order to revigorate an anemic US economy

Edit your workspace(zenhabits)

If you’re at work, look around you — how many things are on your desk? How many things are up on the walls around you? How cluttered is your computer desktop? Are there piles of things around your desk? All of these things are visual distractions, and as we are visual creatures, our minds do not let us ignore them. They pull for our attention, and stress us out.

Retire Rich(livelearninvest)

This is a classic example of retiring poor. It’s where your yearly draw on your networth/savings is outpacing its returns. Eventually, your money runs out.

French Bubble (la bulle?)(telegraph)

French property construction plummeted 15.1pc in February and home prices have begun to slip in the first sign that America’s housing woes are spreading to Europe.

UK mortgage lending up(reuters)

British mortgage lending growth accelerated unexpectedly in February and home loan approvals also beat forecasts, suggesting the housing market is holding up despite three interest rate rises since last August.

Irish house prices into the abyss(UniversitycollegeDublin)

Offering no evidence except wishful thinking, estate agents and politicians
assure us that we have nothing to worry about: the Irish housing market can look
forward to a soft landing. If, however, we look at what has happened to other
small economies where sudden prosperity and easy credit drove house prices to
absurd levels, we should be very worried indeed.

Parabolic Money Supply(marketoracle)

It took us from 1620 until 1974 to create the first $1 trillion of US money stock. Every road, factory, bridge, school, factory, and house built, every unit of economic transaction that ever took place over those first 350 years required the creation of $1 trillion in money stock. But it only took 10 months to create the most recent $1 trillion and I don’t recall seeing an entire continent’s worth of factories, schools or bridges built during that time.

mortgage fraud(thedigeratilife)

Subprime mortgages and high rate loans are designed to help immigrants, low-income families and anyone with poor credit to purchase homes in heated markets. I find this whole concept quite incongruous, just like any kind of usurious debt scheme. When the market is heated, I always stay out of it.


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