Tuesday, September 25, 2007

Odious Congressman of the Day

Salon reports Rep Engel making a complete fool of himself.

Rep. Elliot Engel of New York, another Democrat, told the crowd that the United Nations had discredited itself by having Ahmadinejad speak, and that instead Ahmadinejad should have been arrested for terrorism once he set foot inside New York City.

I thought it was only Republicans who didn't understand the UN. A country can not host the UN if it arrests visiting foreign leaders. Regardless of what Ahmadinejad has done it's complete absurd to advocate breaching every diplomatic rule and arresting him on a UN visit. Engle is as bad as a Republican. Instead of negotiating with foreign governments he doesn't like, Engel advocates blatantly illegal action against them.

Saturday, September 08, 2007

San Francisco, a good market for landlords

The business press never ceases to surprise me with how vapid they are. Forbes is claiming that San Francisco is one of the best markets to be a landlord. They have be joking. The cap rate on residential real estate in San Francisco is around 3% which is terrible. San Francisco has one of the worst rent to purchase price ratios in the nation.

Forbes reporters and their friends at Marcus & Millichap need some remedial finance. I admonish them to say "Assets are worth the cash flows they generate" ten times slowly as their penance.