Commercial Real Estate loans gone bad has started the dominoes tumbling. Evergrande in China, New York Community Bancorp on the brink, and today, Japan's Aozora bank. I check CNBC's web site. Not a word. I guess it's not a major story
210 sats \ 5 replies \ @TomK 1 Feb
We are surving on the new wave of liquidity and the new credit cycle. You are too negative as the war credit pump is working smooth, too. Here in Europe really is fiesta time now. Look how the farmers are celebrating...
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That looks like quite a party in Brussels!
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Even here in Spain the movement gets steam
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Party time in Brussels. But the farmers need support now. Next week I'll try to meet some friends in Madrid to go to the big protests there. I need to get a feeling of the general mood. https://twitter.com/RadioGenoa/status/1753048419956834784?t=hpdvInXfldrEF5HNXU3U1g&s=19
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We're both getting a little old to be on the front lines, no? 😀
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102 sats \ 0 replies \ @TomK 1 Feb
Ooooh yeah. You know how I knew? I love Mark Knopfler and I really like his new single. My far younger sister said: Well nice, but it's more for oldsters, isn't it?? No respect for us who hold the line for decades...
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they build it to break it for bailouts. they make money on the raw deals, then they buy up the companies they ruin, then they are too big to fail and the govt. gives them more money. pretty cool business model.
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yup then they blame inflation on plebs who received tiny stimulus checks
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Nothing to see here. Move along citizen.
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152 sats \ 1 reply \ @kr 1 Feb
everything is fine sir
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It's just a casual boring correction like in crypto 😉
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CNBC's silence is a helpful confirmation that the matter is serious
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You want the media to do media things?
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Maybe the calm before the storm ;)
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Seems familiar....
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Heyo, can somebody look outside and tell me if there's blood in the streets?
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I am impressed nothing major has blown up in CRE yet.
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Pay no attention to the man behind the curtain.
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On NYCB, they knew convincing them to absorb Signatures CRE assets it was a time bomb. Now, you watch, JPMC will get it all at a discount with government guarantees. They use smaller banks like pawns. I'm sure the NYCB execs got paid, but the customers and shareholders get screwed. I think the term for it is crony capitalism. Long term doesn't matter, its all a house of cards. It just sucks that Black Rock and JPMC get longer runway to stack sats. It's all fun and games until the tractors are blocking your streets.
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Someone just posted this zero hedge link separately: https://www.zerohedge.com/markets/regional-bank-stocks-are-crashing-again
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Amusing how many people clicked in this simply because they will not be told what to do.
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