The stock market may be reaching new highs, but I would not suggest you take that as a proxy for your own investing in real estate. It took real effort, but Obama and Hillary managed to craft a foreign policy over the past four years which has accomplished the seemingly impossible, and it bodes very badly for where the world is headed and what could happen. That lack of leadership and the misaligned policy has managed to enrage our key allies in the Mideast –Egypt, Israel and Saudi Arabia. It is unheard of for the Saudis to so publicly insult and turn on the US. They really need us for defense. But they have now concluded Obama is an unreliable and weak person and not a leader. The same for Egypt and Israel. They simply think Obama is unreliable, and is being mislead by Iran. Meantime an independent research group announced yesterday that Iran could produce a bomb in 30 days. Israel is screaming from the rooftops that the time has come. The Saudi actions at the UN and otherwise are screaming the same thing. Leaders in Congress are saying the same thing and demanding more sanctions. But Obama is not listening. He is going the other way on Iran. The Egyptians have told us to go away. Israel is saying it is ready to act alone. Iraq is back to massive sectarian civil war like before the surge because the US went away for political reasons. Afghanistan is already deteriorating as US troops leave prematurely. Libya is a terror haven. Tunisia is collapsing again. This is going in a very dangerous way and the complete lack of US leadership is taking the world into an extremely high risk situation which could turn massively bad very fast. If that happens there is no way to predict where the capital markets go. Likely everyone buys treasuries and crawls in a hole.

Then we have bad employment numbers, not even keeping pace with population growth. Another round of debt ceiling negotiations which are unlikely to go well, and the disaster of Obamacare roll out. Add on the absurd effort by Obama and Holder to score political points by trying to crush Jamie with insane fines and you have nothing that bodes well for the next few years. As the administration continues to attack the big banks, it only harms lending, the economy and job creation. JP Morgan is already revising 2014 budgets, reducing staffing plans, cutting salary increases and bonuses and harming the staff, shareholders and borrowers. But Obama looks good to the populists who think the bankers are all crooks.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.