Small and regional U.S. banks hold about 80 percent of all commercial real estate loans in the country, totaling around $2.3 trillion, according to data service Trepp.
Category: 28 March 2023
SPECIAL UPDATE: THE BIG BANKSTER BUST
While the European Central Bank and the U.S. Federal Reserve have vowed to do all it takes to prevent a banking crisis, there are fears of a bad situation becoming much worse.
LAGARDE WARNS OF WAGE-PRICE “TIT-FOR-TAT DYNAMIC”
Europe risks a “tit-for-tat dynamic” between workers and employers as each pushes for higher incomes to escape inflation’s bite, Christine Lagarde, president of the European Central Bank (ECB) warned at a German financial conference last week.
BUNDESBANK BOSS SAYS ECB MUST KEEP RAISING INTEREST RATES
The European Central Bank (ECB) must remain “stubborn” and continue to raise its interest rates to bring inflation to heel, Joachim Nagel, president of Germany’s Bundesbank and Europe’s chief rate hawk, said in a public statement after the bank bumped its rate by a half-point on 16 March.
INFLATION UP IN U.K., LIVING STANDARDS DECLINE
According to “experts,” it wasn’t going to happen. Inflation in Great Britain ticked up in February to 10.4 percent after finishing January at 10.1 percent, according to the Office for National Statistics reported.
COVID VACCINE DEVASTATION, QUANTIFIED
1.36 million individuals aged 16-64 actively engaged in the labor market were disabled by COVID vaccines, and 310 thousand deaths were caused by them.
TOP TREND 2023, GOING GREEN LIKE IT OR NOT: EUROPEAN COMMISSION PROPOSES “GREEN DEAL”
A “green deal” industrial initiative proposed by the European Commission (EC) would see a minimum of 40 percent of the green energy technologies installed in European Union (EU) countries in 2030 made by businesses located there.
WHEN THE ECONOMY FALLS JOBS GO WITH IT
This is week 34 of our reporting the long trend-line of layoffs that signal recession in a country near you. To illustrate the depth and range of the layoff trend we note that Recruit Holdings, owner of online job placement service Indeed, is laying off about 2,200 workers or about 15 percent of its staff.
FREIGHT COMPANIES FEAR RECESSION
Logistics companies had hoped for increased business in the last half of this year, but retailers are cautious about placing orders after being overstocked for months last year and earlier in this one, The Wall Street Journal reported.
TURNS OUT, EBOLA LIKELY LEAKED FROM A LAB AS WELL
In December 2013, Zaire Ebola hemorrhagic fever broke out in Guinea and over the next three years spread across West Africa, ultimately killing 11,323 people. It was the largest and deadliest Ebola outbreak in history.