https://www.semafor.com/article/02/08/2024/new-york-community-banks-troubles-threaten-a-new-crisis HYPERLINK has full article snip The tipping point may be a Long Island lender, New York Community Bank, that reported major losses on its real-estate loans last week. NYCB’s share price has dropped 60%, dragging stocks of other regional banks down with it in an uneasy echo of last spring, when the government was forced to throw emergency lifelines to keep the system from toppling........... The culprit now is commercial real-estate debt, which is souring quickly as landlords face higher interest rates than they can afford and tenants, after nearly four years of half-full offices, are cutting their leases. And while the U.S. banking system is increasingly dominated by a handful of national giants, commercial mortgages are still the province of regional lenders. end snip We will soon be seeing more of these stories. Commercial RE loans are sexier than other loans which are defaulting but auto, rv, marine, personal and unsecured credit cards are seeing increased defaults. What bothers me is that are these "intended consequences" from harmful DC policies or are those in DC really that incompetent?
Which policies ? Be specific ? The real culprit here is business found out during the pandemic that they didn't need all that expensive real-estate. They found that they could save millions by allowing people to work from home, which changed the cost for that real-estate from the company to the employee. Now if you want to talk about the overall economy dragging, you need look no further than the concentration of income and wealth at the top
Ah yes... the "only the federal reserve and their allies in the big banks" can save us now ploy.... Watch for the wolves to swoop in and buy up the bad debt as soon as it hits the fire sale. As it always happens, and the US Fed directs.
here is a clue starting January 2021, track the price of fuel up to Jan 2022. Then, track what happens to inflation Or, deny deny deny and go get your Democrat pom poms and start waving them. They really screwed the pooch this time and the pain is widespread.
Do you even understand supply and demand ? You mean when people actually started using gas again, it took time for the supply to ramp up to meet that demand? Please tell us exactly which Biden law created those prices….
track fuel prices and what they did in 2021 then also track inflation cause/effect but, I do not expect the Democrat voters on this forum such as yourself to even attempt to see that the policies hurt the regular folk. Are you involved in Democrat politics that you must support the policies no matter how harmful? Are you compensated? Surely your unwillingness to admit the harm must be balanced by compensation. Or, are you that blind of a Democrat follower?
thanks but regulations do not prevent defaults, despite what politicians would want you to believe.. When loans were underwritten, nobody could predict that DC would wage a war on fossil fuel and trigger unprecedented inflation. Nobody has a crystal ball as to the harm created by DC
yup, and follow the charts after he signed the EOs attacking fossil fuel Or, reply with a Democrat talking point; your choice
as i suspected; thanks for continuing the nonsense. The charts are out there as to fuel prices post EO. The charts are also out there how "coincidentally" inflation thus reared its head. But do continue to ignore it. Your posts are quite humorous
Amazing how EOs caused inflation around the globe….almost like it was emerging from covid that did it
It isn't so much that dems don't understand business. That's okay. A lot of people don't. It's more like - They refuse to try to understand it. Have you ever heard of 'Futures'? Big Companies don't buy oil on the spot Market, they buy it for delivery two, three, or 6 months down the road. It's called having a plan. So the prices you see in January are prices for delivery in June or July based on where the Futures Contracts holders think the market will be. OBTW, Interest rates are causing all the troubles right now. High Interest loans are coming due. Business don't work with their own money, they work on borrowed money. Too complicated to explain to a bunch of dummies.
this is the USA that is also a tired retort used by the Democrat party. I do give you credit for using them because frankly, when ever anyone says to look at the charts and note the timelines, I can almost write verbatim what Democrat voters will post. It's political party first and to heck with the folks.
Maybe we just all use common sense to figure an American EO didn’t cause inflation in Ireland lol Especially when stuff like oil prices were rising in may 2020
Prices started to go up in may 2020. Btw, we’re producing more oil under Biden than under any president in history. Worst war on fossil fuels ever!
damage was done feel free to cheer at the folks who now struggle to make ends meet. Tell them to vote Democrat cause their life is just swell
What I've seen regarding "work from home" is that productivity value drops, and makes costs rise. It erodes work ethics fiercely. Commercial real estate is hurting because businesses are hurting. Property isn't profitable to own when your occupancy rate is poor, and doubly so when your rent cost is too high. There is about $100 billion in commercial property loans in trouble right now, and no light at the end of the tunnel. There does seem to be a lot of people working from home. Most of them seem to be phone jobs, those who monitor the many robo calls we get every day. If you answer, hear a delay and click as the computer transfers the call to some home-based flunkie, you are talking to one. Then they go into the canned sales pitch on their monitor, until you hang up or get sucked in. I used to tell them to find a real job, but now I just hang up on them. The AI voices are going to kill even those jobs, so sooner or later we are going to need either a lot more trade schools or homeless camps. We have a large percentage of people who have no idea how to manage their lives or support themselves without help. Most of the people at the top who make big money make it because they make that money come in the door. Stockholders don't give money away at any level, they want value. The delusion that those people get multimillion dollar salaries without reason is- baloney. IF you can do what they do, bring in the revenue and profit they do- YOU can make the same money.
