I know this is a housing blog, but I see world geopolitical events linked hand in hand with housing and the economy. If this powderkeg blows, which I believe it is about to do, the stock market, the housing market and the world economy blows with it. Here's the latest remarks from the crazy in Iran. Read up on this guy - this is serious. Dead serious.
Does everyone realize this guy believes he is ushering in the end of the world, and is on a divine mission as a martyr, with the main goal to bring about the reappearance of the hidden imam, and the government must prepare the country for his reappearance?
Might want to read up on it - he's telegraphed what he's going to do, just as Hitler did with Mein Kamph.
The scariest thing as we all know is that the folks running the GOP today also believe in the literal translation of the bible, including Armageddon, and believe that they too are ushering in the final battle between Gog and Magog. Guess they all got what they want. Fasten your seatbelts.
If you don't want to read about this, then skip this posting and don't comment. For those of you who do, and understand it in relation to economics, housing and consumer psyche, post away, but keep it reasoned...
Iranian President Mahmoud Ahmadinejad said on Saturday that the Palestinians and "other nations "will eventually remove Israel from the region."
Addressing a mass demonstration in Tehran - one of many organized throughout Iran to commemorate the 27th anniversary of the Islamic revolution - he once again questioned the Holocaust "fairy tale".
"We ask the West to remove what they created sixty years ago and if they do not listen to our recommendations, then the Palestinian nation and other nations will eventually do this for them," Ahmadinejad said in a ceremony marking the 27th anniversary of the Islamic revolution.
"Do the removal of Israel before it is too late and save yourself from the fury of regional nations," the ultra-conservative president said.
February 11, 2006
Ahmadinejad: Israel 'will be removed' - and the West is now officially at war with Iran and radical muslims
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more on this nut...
In a video distributed by an Iranian web site in November, Mr Ahmadinejad described how one of his Iranian colleagues had claimed to have seen a glow of light around the president as he began his speech to the UN.
"I felt it myself too," Mr Ahmadinejad recounts. "I felt that all of a sudden the atmosphere changed there. And for 27-28 minutes all the leaders did not blink…It's not an exaggeration, because I was looking.
"They were astonished, as if a hand held them there and made them sit. It had opened their eyes and ears for the message of the Islamic Republic."
Western officials said the real reason for any open-eyed stares from delegates was that "they couldn't believe what they were hearing from Ahmadinejad".
Their sneaking suspicion is that Iran's president actually relishes a clash with the West in the conviction that it would rekindle the spirit of the Islamic revolution and - who knows - speed up the arrival of the Hidden Imam
ALLAH AKKBAR!!!!!!
Such silliness. What the world needs is LOVE LOVE LOVE
Send IRAN a number VW Beetles with LOVE flowers on them!
And make them all Mormons.
Get ready for 100 dollar oil.
In all seriousness, however, we should consider the possibility that global instability helps and does not hurt RE values in the western world. If you buy a home in the USA, you are buying whatever security you obtain by being within well-defended borders. To the extent that other parts of the world, including Europe, are threatened by terrorism, the relative value of US homes goes up. This is one of the major -- and very infrequently mentioned -- causes of the US RE boom post 9/11. Many of you will probably respond that Americans are not really secure; whether you are right or wrong, however, it is the perception of the majority that drives markets. And if you had told me, on 9/12, that there would be no more Islamist terror attacks on US soil for 4.5 yrs (with the possible but unproven exception of the anthrax letters), I would have said you were crazy.
I am a bubble believer, but I think the unrest in the Middle East, and Iran particularly, may actually work for and not against US RE prices.
Maybe, you should rename your blog to "World Panic" or "Crazy Mullahs".
Ever since you moved to London, you seem to make silly comments on Religion and Geopolitics.
These are very difficult subjective issues to quantify. I suggest we keep the blog more rational and focus on housing related matters. Else, I better find a more suitable blog.
I am a Christian who lived with muslims half of my life. The religion needs to be openely banned from the west. Bush needs to stop saying Islam is a peaceful religion. Read the Kuran, it is not! Those guys are crazy!
The Federal Government of the United States is known to possess three types of weapons of mass destruction: nuclear weapons, chemical weapons and biological weapons. The U.S. is the only country ever to have used nuclear weapons in combat. The U.S. arsenal of weapons of mass destruction is among the largest in the world, along with Russia's, depending on the definition.
Sorry to hear you are not a christian keith.
Housing market is fundamentally weak
in the short term. Geopolitical event
do not have much impact on prices even
though they are blamed for it often.
Having said that, I agree with your
concern on Islamic fundamentalism
but the concern is political and not
economic.
Guess they don't know who they are messin' with! George W. "trigger finger" Bush might just show them the law...and crazy "Jacques le Crok" has already indicated he'd use any means necessary to defend "Le France". Doesn't look good. Let's all move to Fiji.
Does Mr. Iran actually believe what he says, or is it to motivate the troops?
Either way, he is dangerous, but I prefer my dastardly villians to be sane.
Austin Yankee:
Wow, you are extreme. I kinda like it. I still have 28% of my wealth in USD based denominations.
Otherwise: gold, silver, Canadian energy, various currencies.
cereal said...
from a bible standpoint, the beginning of the tribulation is russia attacking israel, not iran. there will be more at stake than housing prices (as keith will be the first to agree) if israel gets dragged into something big.
iran v israel is not really a fair fight.
Just as a word to anyone who knows a bit of Christian theology. The ideas of dispensational apocalyptic readings of the Book of Revelations are fairly new to the Christian religion. Traditional readings of the book of Revelations did not have this overlying system of interpretation known as “Dispensationalism” until fairly recently. Do your own research, but basing current world politics on dubious interpretations of the Book of Revelations will most likely have you sitting around watching those “Left Behind” videos from your underground bunkers.
Cereal said...
"from a bible standpoint, the beginning of the tribulation is russia attacking israel, not iran. there will be more at stake than housing prices (as keith will be the first to agree) if israel gets dragged into something big.
iran v israel is not really a fair fight."
This is the reason the world is falling apart: superstitious people citing ancient poetry and other literature they don't comprehend (because it derives from completely foreign cultures and mindsets), and filling in the blanks.
There no mention of Russia, Iran,
SUVs, or microwave ovens ANYWHERE in the Old or New Testaments, nor is there any mention of nuclear weapons, Britney Spears, or the guy who dyes Donald Trump's hair. About the best you'll get is Jesus referring to the "four corners of the Earth" (because people back then didn't know the world was round), and cursing a poor fig tree because he didn't know figs weren't in season: a curious stupidity for a god that the story's writer failed to notice.
Now we have two groups of lunatics trying to bring about the "End Times:" fundamentalist Muslims and fundamentalist Christians. What if they succeed? Will they rejoice in the suffering and deaths of billions? I think they will, as long as they, the holier-than-thou, escape. Incidentally, since fundamentalist Christians are so horrified by the occult, I think it should be noted that the entire concept of the Rapture came from the mouth of a young trance medium.
http://truthkeepers.com/chapter_four.htm
You mean the entire central foundation of evangelical Christianity derives from WHAT???Yes, funny, huh? Ha Ha Ha. And not only that, but "revelations" revised and falsified by one of the biggest charlatans of late nineteenth and early twentieth century Christianity. And to back up his stories, he cited yet ANOTHER medium who used automatic writing (roughly the equivalent of a Quija board) to get her divine "messages."
I'm surprised the Rapture crowd would be reading a real estate blog, since they aren't going to need any. Curious.
What does a great corporation do when something goes wrong?
They apologize quickly.
That's what we should do quickly on behalf of Europe as well. It should be sincere and come from President Bush.
this nutball will bring the end on himself, Isreal has over 100 warheads and will use them when attacked in kind.
What to Buy Now for your over priced home: seeds, cows, water purification, small arms, solar panels, gas masks, radiation detector, lead lined clothes, camo for the garden in the backyard, and silver coins. The new chain store: Home Last Depot
Iranian Oil Bourse:
The guy in Iran is nuts, but the idea that he will be attacked because of the Iranian oil exchange in euros is ridiculous.
Denominating a futures contract in euros makes no difference economically versus dollars. It is precisely the combination of a crude/dollar plus dollar/euro forward contract, which I am sure that investment banks already can arrange for their euro-using clients. The Euro/Dollar forex market is the deepest financial market on the planet---the volume of EUR/USD in a day or two is probably as big than the entire value of all oil consumed by everybody on the planet in a year.
The dollar exchange rates will continue to be denominated by large scale capital flows an interest rates, as usual.
Oil is also sold in large long-term agreements off the exchanges in whatever currencies are mutually acceptable to both parties.
Finally, oil exchanges, in order to get volume and trades, absolutely must be able to ensure true physical delivery and settlement of trades reliably. If you are threatening to shut down the Persian Gulf---how will the oil contracts be settled?
Therefore, if Iran sets up an oil exchange, then there will be people in Iran with a vested financial interst in securing reliable transactions, finances and delivery. Fundamentalist religious war is not good for that---and so we ought to support the development of modern financial and commodity exchanges in Iran.
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If I spent as much time working on my own real estate sites as I do slogging thru blogging, I'd probably make more money. But I enjoy a good read. Thanks for the break. Stop by my site if you can.
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