Real Estate | NoisyRoom.net

By: Denise Simon
FoundersCode.com

VIENNA—Tensions in the nuclear talks between Iran and six powers have boiled over in recent days, producing heated exchanges among foreign ministers as Washington and Tehran struggled to overcome remaining hurdles to a final agreement, according to people involved in the talks.

The German and British foreign ministers returned to the Austrian capital Wednesday evening as Western diplomats insisted a deal was still possible in coming days. However, time was running out for the agreement to be sealed before a deadline this week which would give the U.S. Congress an extra month to review a deadline.

People close to the talks have warned that the longer Congress and opponents of the diplomacy get to pick over an agreement and galvanize opposition, the greater the political risks for supporters of the process, which aims to block Iran’s path to nuclear weapons in exchange for lifting tight international sanctions.

U.S. officials have insisted this week they don’t feel under pressure to get a deal by the congressional deadline, which arrives at midnight Thursday (6 a.m. Friday in Vienna.)

Over the past day, Western officials and Iranian media have outlined tense exchanges between the negotiating teams that took place Monday evening, at a point where the talks appeared close to stalling. At the time, negotiators were working toward a Tuesday deadline for a deal.

Today, Barack Obama had a teleconference with John Kerry on the progress of the Iran nuclear weapons talks and even provided guidance as noted below. Israel has been kept completely in the dark on the talks.

Later today, the U.S. Air Force Secretary had this to say:

Russia is the biggest threat to US national security and America must boost its military presence throughout Europe even as NATO allies face budget challenges and scale back spending, US Air Force Secretary Deborah James said on Wednesday.

“I do consider Russia to be the biggest threat,” James told Reuters in an interview after a series of visits and meetings with US allies across Europe, including Poland.

James said Washington was responding to Russia’s recent “worrisome” actions by boosting its presence across Europe, and would continue rotational assignments of F-16 fighter squadrons. Deeper details are here.

There is an oil and real estate coupd’etat.

China is conducting Arctic research in an area considered the extended undersea shelf of the United States, while Russia is able to move across the frozen regions in 27 icebreakers.

Meanwhile, Adm. Paul F. Zukunft, commandant of the U.S. Coast Guard, said the United States is practically a bystander in the region.

“We sit here on the sidelines as the only nation that has not ratified the Law of the Sea Convention,” Zukunft told a gathering Tuesday at the Navy League’s annual Sea Air Space exposition and conference at National Harbor, Maryland. “Our nation has two ocean-going icebreakers … We’re the most prosperous nation on Earth. Our GDP is eight times that of Russia. Russia has 27 ocean-going icebreakers.”

The U.S. has only two, he said, practically conceding the Arctic to foreign nations, Zukunft said.

“What happened when Sputnik went up? Did we say ‘good for you but we’re not playing in that game?’” he asked. “Well, we’re not playing in this game at all.”

Beneath the Arctic is about 13 percent of the world’s oil and nearly 30 percent of its natural gas. And on the seabed is about a trillion dollars’ worth of minerals, Zukunft said. Coast Guard mapping indicates that an area about twice the size of California would be considered America’s extended continental under the U.N. sea convention not signed by the U.S.

Meanwhile, it is getting real in Nevada….

Air force drops nuclear bomb in Nevada in first controversial test to update cold war arsenal

‘This test marks a major milestone for the B61-12 Life Extension Program, demonstrating end-to-end system performance under representative delivery conditions,’ said NNSA Deputy Administrator for Defense Programs Dr. Don Cook.

‘Achieving the first complete B61-12 flight test provides clear evidence of the nation’s continued commitment to maintain the B61 and provides assurance to our allies.’

The B61, known before 1968 as the TX-61, was designed in 1963 by the Los Alamos National Laboratory in New Mexico.

The B61-12 LEP entered Development Engineering in February 2012 after approval from the Nuclear Weapons Council, a joint Department of Defense and Department of Energy/NNSA organization established to facilitate cooperation and coordination between the two departments as they fulfill their complementary agency responsibilities for U.S. nuclear weapons stockpile management. More details here.

By: Benjamin Weingarten
TheBlaze

Massachusetts political roots aside, you might think that the comparison of Democratic Sen. Elizabeth Warren and former governor and failed Republican presidential candidate Mitt Romney is absurd.

Warren, the progressive populist who in both rhetoric and regulation has sought to shackle “predatory” financial institutions as a means of supposedly protecting “the little guy,” and Romney, the patrician and wealthy denizen of the financial establishment of 47 percent infamy, would appear to be polar opposites.

Elizabeth Warren delivers her famous “You didn’t build that” speech.
(Image Source: YouTube screengrab)

But alas, as is so often is the case in politics, Warren’s public face is contradicted by her private actions – actions that we will soon see are similar in nature to those that made Romney a millionaire.

Warren, like Romney, profited by buying assets at low prices and through either improving said assets or waiting for the market to strengthen, selling them at higher prices.

As Jillian Kay Melchior and Eliana Johnson lay out in a recent National Review exposé, Warren “bought and sold at least five [residential] properties for profit,” generating at least $240,500 before accounting for remodeling costs.

Several of the homes Warren purchased and then flipped had been foreclosed upon.

The focus of the piece is the rank hypocrisy that Warren would execute such profit-seeking transactions, given that she has called the idea of buying and selling properties quickly for profit a “myth” that contributed to our economic woes, and decried the banks that foreclosed on the homes of working class Americans.

Rightfully, the column closes with the following flourish:

In her 2014 autobiography, Warren wrote of the events that precipitated the financial crisis that “everyone seemed to have a story about someone they knew who was getting rich by flipping houses.”

She omitted a crucial one.

But it ought to be pointed out that not only were Warren’s actions counter to her stated principles – they mimicked those of the private equity companies and other financial institutions that she has spent her entire public life railing against.

What private equity professionals like Mitt Romney, and investors in general seek to do is “buy low and sell high.”

Firms like Romney’s Bain Capital scour the market for businesses they believe are undervalued and/or have significant growth potential. They seek to buy these businesses at a low price, and grow them while making them more profitable and efficient by cutting costs, closing non-core operations while strengthening core ones and implementing new and improved strategies and practices to better their business models.

Justin Sullivan/Getty Images

By improving the companies in which they invest, the end goal is to sell them for many times the price at which they were bought.

What Romney did at the macro level in investing in businesses worth hundreds of millions or billions of dollars, Warren did at the micro level in investing in homes worth thousands or hundreds of thousands of dollars.

The difference however is that Romney’s investing in many cases led to the creation of ever-better goods and services at ever-lower prices, with the benefits accruing to not only Romney, Bain’s investors, and the employees of the strengthened companies, but all consumers – that is, you and me.

Certainly Warren’s investments in home remodeling may have created work for construction companies and home suppliers, but those benefits pale in size and scope to the benefits to the public of successful private equity investments.

Too, many progressives are queasy about the idea of gentrification, which they argue prices poorer people out of their neighborhoods, replacing them with the more “privileged,” all supposedly to the detriment of the character of said communities. Warren supported this process by improving several of the homes she purchased that had been in disrepair, and selling them at a significant premium.

No one should begrudge Elizabeth Warren for her apparent investing acumen.

And one suspects that no one on the left will begrudge her for her home-flipping hypocrisy, given that the truly ill-gotten riches of the Clintons who partnered with all manner of tinpot dictators and civil rights squelchers do not seem to offend the left’s sensibilities.

But all should recognize that the very business for which Romney was castigated by large swaths of the public is in essence the same business in which Warren was an active participant, only at a smaller scale and with far more modest benefits.

This is not an indictment, but a compliment, even if Warren herself would not like to hear it.

More broadly, we should be celebrating those who create wealth, and crucifying those who destroy it — namely government bureaucrats whose resources only exist because they bilk the individuals and businesses that did build that.