You would have heard the news by now. $360 billion is roughly half of the forex reserve of China. The real question if why the Saudis are doing this and what impact it will have on global economy.
Saudis to retrieve $360 billion abroad:- - World News - Webindia123.com
Wednesday, August 10, 2005
Monday, August 08, 2005
San Diego slowing down?
Paul Krugman: Living in a bubble - Editorials & Commentary - International Herald Tribune: "after a rise in house prices that dwarfs the boom of the 1980s. The number of single-family houses and condos on the market has doubled over the past year. 'Homes that a year or two ago sold virtually overnight - in many cases triggering bidding wars - are on the market for weeks,' reports The Los Angeles Times."
Camping Out for New Condos
This reminds me of the crazy scene of people "flipping" line positions to pick condo units in Hong Kong before the crash in 1998 which brought overall property down by 60%.
Condo crazy at the heart of a boom | csmonitor.com
Condo crazy at the heart of a boom | csmonitor.com
Friday, August 05, 2005
Bubble Comparison
It certainly looks like the road block is not too far away
Wall Street's Fate Caught Up With Housing - Forbes.com
Wall Street's Fate Caught Up With Housing - Forbes.com
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