News: Real Estate, Risk, Economics. May 12, 2017

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Table of Contents
(Click to sections below.)

1) ULI Forecast Predicts More Room To Run For CRE | Seeking Alpha

2) Paying for public services: Dr Steven Hail's solution

3) Panic! Like It's 1837 | The Daily Bell

4) In Bleak Prognosis, Italy's Financial Regulator Threatens EU with Return to a "National Currency" | Wolf Street

5) Ohio Governor Says Manufactured Homes Should Be Regulated

6) Getting Fiscal Stimulus and Central Bank Independence In Synch

7) America has become so anti-innovation — it's economic suicide | Technology | The Guardian

8) Eight Ways For New Investors To Succeed In Today's Real Estate Market

9) Edge Security Flaw Allows Theft of Facebook and Twitter Credentials

10) Lawyer with Responsibility for Mortgage Crisis Appointed to Take Care of Mortgage Banks – YouTube

  1.    ULI Forecast Predicts More Room To Run For CRE | Seeking Alpha

    Sentiment has been buoyed by expectations that President Trump's proposals to reform the tax code, reduce regulatory burdens, and invest in infrastructure could further stimulate the economy. However, optimism is tempered by the realities of slower growth across commercial real estate property types at this stage of the cycle, as well as uncertainty that the new administration will be able to deliver on its campaign promises.

    Deliver the legislation, or deliver on the promises that such legislation would do what has been claimed. The former is possible. The latter is not.

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  2.    Paying for public services: Dr Steven Hail's solution

    You see, it really is catching on. Mark my words. We will get there.

    In addition, as we do, we (humanity) will become more and more advanced technologically and also in the cooperative spirit.

    There will be bumps and setbacks and even obstacles that will seem to many, many people to be insurmountable, but we will get there.

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  3.    Panic! Like It's 1837 | The Daily Bell

    Panic! Like It's 1837? No thank you.

    Honestly, does it get any more antiquated?

    Look, I'm not trying to be insensitive to the feelings of others, but what century are we living in? The so-called "Gold Standard" did not prevent the so-called business cycle. In fact, we were doing very well without it. We had fewer and less severe recessions without it.

    The problem wasn't in, and isn't in, paper money or cyber money. The problem was in deregulation, allowing and facilitating criminogenic banking (including in the then "investment banks" of Wall Street).

    Gold would be a huge unnecessary monetary constraint. It would also cause an environmental crisis.

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  4.    In Bleak Prognosis, Italy's Financial Regulator Threatens EU with Return to a "National Currency" | Wolf Street

    "The management of crises may require timely intervention that is not compatible with the mechanisms in Frankfurt and Brussels," Vegas added.

    That's exactly what I've been saying since right after the crash. Merkel should have stepped up with a welfare state for Europe rather than with her ordoliberalism doomed to failure.

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  5.    Ohio Governor Says Manufactured Homes Should Be Regulated

    Before you invest in mobile homes …

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  6.    Getting Fiscal Stimulus and Central Bank Independence In Synch

    Trump's anticipated fiscal expansion may disappoint, with minimal infrastructure investment and stimulus coming only in its most inefficient form – tax cuts for the rich. But if the advanced economies do achieve more robust growth, it will be because large fiscal stimulus is facilitated by ultra-loose monetary policy.

    Some economists wrongly fear that this implies the end of central-bank independence and the return of "fiscal dominance." Central banks' independence is threatened if fiscal authorities can instruct central banks to finance public deficits and monetize debt, even in circumstances where harmfully high inflation results. But it is not threatened if central banks independently decide to facilitate fiscal expansion through ultra-low interest rates and quantitative easing when inflation is running below target. If we had recognized that reality sooner, and provided more fiscal stimulus, recovery from 2008 could have been more robust and its benefits more widely spread.

    Just pass legislation clearly mapping out how to keep money expansion pegged to real productivity to avoid excessive inflation/deflation swings, and don't borrow, don't issue bonds.

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  7.    America has become so anti-innovation — it's economic suicide | Technology | The Guardian

    As the economist Mariana Mazzucato has shown, nearly every major innovation since the second world war has required a big push from the public sector, for an obvious reason: the public sector can afford to take risks that the private sector can't.

    Conventional wisdom says that market forces foster innovation. In fact, it's the government's insulation from market forces that has historically made it such a successful innovator. It doesn't have to compete, and it's not at the mercy of investors demanding a share of its profits.

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  8.    Eight Ways For New Investors To Succeed In Today's Real Estate Market

    Of the things mentioned, this one seems to be the most unappreciated in the world of self-help real-estate investing blogs and the like:

    We've been in a bull market for the last seven to eight years, and I would be extremely worried about getting into luxury housing. The key to succeeding in 2017 is to buy defensible assets that allow you a margin of safety, all the while preserving your operations throughout the downturn. I experienced 2008 firsthand and our assessment of risk changed forever. – André Bueno, The BM Group

    Do not, repeat, do not over leverage. It means keep your loan-to-equity ratio in conservative mode, especially when the market is cooling down! It's why commercial lenders look for a minimum 20% down.

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  9.    Edge Security Flaw Allows Theft of Facebook and Twitter Credentials

    "We have 3 SOP bypasses right now," Caballero told Bleeping Computer today when asked to confirm the status of the three bugs.

    This month's Patch Tuesday, released two days ago, patched the Edge SmartScreen issue Caballero discovered last December, but the researcher found a way to bypass Microsoft's patch within minutes.

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  10.    Lawyer with Responsibility for Mortgage Crisis Appointed to Take Care of Mortgage Banks – YouTube

    This is right at the heart of the US real-estate industry.

    Trump appointed Craig S. Phillips, who contributed to the 2008 financial crisis at Morgan Stanley, to take care of FannieMae and FreddieMac, explains white collar criminologist Bill Black.

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