About $175 billion of real estate debt is classified as “distressed,” meaning there is a growing likelihood of it not being repaid, according to data compiled by Bloomberg.
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SPOTLIGHT: TOP TREND 2023, OFFICE BUILDING BUST
In 2022’s fourth quarter, the proportion of Canada’s office space sitting empty reached a record 17.1 percent, according to real estate services firm CBRE, even though the country’s economy has fully reopened from its COVID-era lockdowns.
SPOTLIGHT, TOP TREND 2023: GOING NUCLEAR
Sweden said it is prepared to dramatically increase its domestic nuclear energy production and expressed hope for France, Europe’s top producer, for help to achieve its goals.
SPOTLIGHT: WILL THE $60 PRICE CAP ON RUSSIA’S OIL EXPORTS MAKE A DIFFERENCE?
Russia will sell no oil to countries that support the G7 and European Union’s $60-per-barrel cap on Russia’s oil exports and “we will possibly think about a cut in production,” Russian president Vladimir Putin said in a public statement.
SPOTLIGHT: THE STRUGGLE OVER INTEREST RATES
As we have greatly detailed, the rise and fall of interest rates is a guessing game since facts do not matter. Again, the facts were clear, front and center: Inflation was spiking but the Central Banksters defamed those of us who said it was real and rising and instead declared it was only “temporary” and then “transitory.”
SPOTLIGHT: BIGS GETTING BIGGER
Each week, we report instances where the money junky hedge funds, private equity groups and the already big companies swallow another piece of the global economy.
SPOTLIGHT: THE DIESEL FUEL CRUNCH
While gasoline prices have risen 14 percent so far this year, diesel’s price has shot up by 50 percent to a record $5.35 a gallon, according to the American Automobile Association.
SPOTLIGHT: INFLATION
Europe’s banks should set aside greater reserves to cover bad loans, regulators should require investment funds to hold more cash to cover a surge in withdrawals, and the European Central Bank (ECB) should not delay in beginning to sell its €5-trillion bond hoard next year, bank vice-president Luis de Guindos said in a statement accompanying the ECB’s semi-annual review of the region’s financial stability.
CHINA CONTINUES ‘ZERO-COVID’ PUSH, PUSHING DOWN CHINA
What a difference a day makes. Last Friday, Commodities prices rallied on Friday after China’s National Health Commission indicated it would loosen some of its strict COVID policies and travel restrictions.
CHINA RAMPS UP COVID WAR: DETAINS 200,000 AT IPHONE PLANT, ONE COVID CASE AND THEY LOCKDOWN DISNEYLAND
The Chinese Communist Party continues to take severe measures to limit the spread of COVID-19—including the lockdown of a major Apple iPhone plant and the closure of Disneyland in Shanghai after one guest tested positive for the virus.