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| Home Front: Politix |
| With just days to spare, US Senate gives final approval to debt ceiling deal |
| 2023-06-03 |
| [IsraelTimes] Legislation, which also includes spending cutbacks demanded by House Republicans, sent to US president to be signed into law, averting default. |
| Posted by:trailing wife |
| #7 Thanks, Raj. |
| Posted by: DooDahMan 2023-06-03 14:59 |
| #6 The real problem cones when the people holding the defaulted loans suddenly have instead collateral that's worth little or nothing, which is the way a lot of those buildings will go. Good follow through point, mate. This is where the dominoes will start to fall and the re-appearance of those dreaded accounting phrases - asset impairment, non-performing assets and doubt as to the ability to continue as a going concern. |
| Posted by: Raj 2023-06-03 14:04 |
| #5 The real problem cones when the people holding the defaulted loans suddenly have instead collateral that's worth little or nothing, which is the way a lot of those buildings will go. The land underneath won't even be worth much if the left's blue city mayhem project continues as it's going now. |
| Posted by: M. Murcek 2023-06-03 12:19 |
| #4 Reportedly there are trillions of dollars of commercial real estate (CRE) loans out there. DooDahMan - you can remove the 'reportedly' descriptor from your statement. The guy I work for / with on Fridays has been in property management for at least thirty years. He's certain that a lot of these loans (we figure at least 25% of them, bare minimum) will be defaulted on soon (1-2 year horizon), and the difference from 2008 are all the office vacancies caused by our governments' (on all levels) collective response to the Wuhan Flu virus, a not so nice compounding effect. No way in hell the Feds are going to bail everyone out. A completely self-inflicted disaster's in the making. |
| Posted by: Raj 2023-06-03 12:17 |
| #3 It's a "not if, but when" situation. Reportedly there are trillions of dollars of commercial real estate (CRE) loans out there. I don't think it's going to be a fun time for the financial system for the next few years. One reason, some say, why Fink's BlackRock wanted to get into banking (JPM beat them to the punch on First Republic Bank), so they can eventually be declared "TBTF" by that harridan Yellen. BTW, BlackRock also runs the French pension system. |
| Posted by: DooDahMan 2023-06-03 09:06 |
| #2 #1 Fake deadline avoided by the skin of our teeth. Posted by: Super Hose 2023-06-03 08:03 ...Sadly, Brother, was there ever any doubt? I'm beginning to dread the next five to ten years. Not that I know anything or have any direct evidence, but I just have a feeling that some Monday morning we're going to wake up to a middling bank failure somewhere, or a brokerage house being suspended...and then it all goes downhill so fast that we're not going to know what happened for months. Mike |
| Posted by: Mike Kozlowski 2023-06-03 08:45 |
| #1 Fake deadline avoided by the skin of our teeth. |
| Posted by: Super Hose 2023-06-03 08:03 |