From: Jeffrey Epstein <[email protected]> To: Peter Mandelson cj Subject: Re: Date: Sun, 20 Mar 2011 20:57:29 +0000 I understood. i was merely pointing out the difference between economics and emotion. On Sun, Mar 20, 2011 at 4:45 PM, Peter Mandelson < > wrote: Rent not good. No possession or emotional investment. And nothing permanent for R. From: Jeffrey Epstein <[email protected]> Date: Sun, 20 Mar 2011 13:43:59 +0000 To: Peter Mandelson Subject: Re: Fw: very clever„ but lacks the emotional piece. . a house is never a good economice investment, capital needs, use of funds except in a fast growing market. the emotional security it gives you howver lets you make more money than you would have otherwise, .. you can always rent, its the best ecxonomic decision if looked at in a vacuum. just like james buyint the girl a flat. no good economic reason. however it buys him peace. On Sun, Mar 20, 2011 at 6:35 AM, Peter Mandelson •c: > wrote: Ignore affectionate language... Original Message From: James Palumbo (MSHK) [maiIto: Sent: Sunday, March 20, 2011 08:50 AM To: Peter Mandelson BT Subject: Mr.Grumpy, Mr.Frumpy. Mr. Rumple - Rumple Stiltskin. Grrh, grrh, grrh, let's take this from the top. There are 3 main points to consider. 1. What's the state of the world? My view continues to be bearish - Japan, Libya, oil price, UK Q4 GDP decline, US debt and unemployment, global inflation. I think there's now a good chance of a double dip recession and another shock of some sort - bank failure, sovereign debt crisis - Spain? What would be the result of this? Japan style stagnation on one end of the scale, all the way through to genuine turmoil on the other - economic collapse, riots. As you know I've built a compound in Thailand against the latter possibility. You need to check this view with Natty Nat Nat Nat Nat, Lazards, and others you trust. Generally my stance would be cautious. 2. How might this effect global property prices? Uncle