From the national debt to negative jobs reports, data has been piling up that suggests America’s economic bubble is ready to burst. Now, with the Fed’s most recent round of rate cuts moving through the economy, fault lines are appearing in the commercial real estate sector. The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect those of Peter Schiff or SchiffGold. The pain is especially apparent in the so-called “CRE-CLO” bond market. CRE-CLO bonds are packaged commercial real estate mortgages comprising short-term floating rate loans. These bridge loans were recently, and most notably, used to facilitate the biggest apartment investment bubble in history, but were also used in financing other commercial real estate sectors including office, retail, hotel, industrial, and self-storage. https://www.zerohedge.com/markets/commercial-real-estate-bond-distress-reaches-record-high

The last time we looked at the senior loan officer survey (SLOOS) several months ago, we found "tighter standards and weaker demand for commercial and industrial (C&I) loans to firms of all sizes over the third quarter" in addition to tighter standards and less demand for most other loan categories https://www.zerohedge.com/economics/banks-report-tighter-standards-weaker-loan-demand-some-improvement-financial-conditions

Freeland announces $5 billion loan to fund Ukraine war! Finance Minister Chrystia Freeland, who is of Ukrainian descent, has disregarded public opinion and vowed ongoing financial support to Ukraine, with fewer than one in three Canadians agreeing to continued aid. 🇨🇦 #NoMoreLiberalsAndNDP 🇨🇦 🇨🇦 #SayingTheQuietPartOutLoud 🇨🇦 🇨🇦 #resigntrudeau 🇨🇦 🇨🇦 #JustSayNoMore 🇨🇦 https://www.rebelnews.com/freeland_announces_5_billion_loan_to_fund_ukraine_war

Trudeau's billion-dollar satellite loan doesn't mandate internet connection: report! Prime Minister Trudeau announced September 13 that Telesat would build a $2.1 billion satellite constellation that connects Canadians to the internet. Though terms of the agreement remain confidential, a cabinet inquiry says Telesat is not required to connect households. 🇨🇦 #NoMoreLiberalsAndNDP 🇨🇦 🇨🇦 #SayingTheQuietPartOutLoud 🇨🇦 🇨🇦 #resigntrudeau 🇨🇦 🇨🇦 #JustSayNoMore 🇨🇦 https://www.rebelnews.com/trudeau_s_2_1_billion_loan_to_build_satellites_doesn_t_mandate_internet_connection_report

Christopher DeVocht claimed RBC Dominion Securities set him up with a margin account and substantial loans that ultimately backfired, wiping out his entire investment portfolio, Stockwatch reported on Oct. 3. The Canada-based man then hired RBC, who assigned advisers that Devotch claims were supposed to help him preserve his wealth by recommending risk mitigation strategies. https://www.zerohedge.com/markets/man-turns-88k-415m-tesla-then-sues-after-losing-it-all

TIME TO GET YOUR OUT OF THE BANKS, Michael Santomassimo, chief financial officer at Wells Fargo, noted that while inflation is slowing, it is “still cumulatively having a big impact,” especially for lower-income households. “The folks on the lower end of the wealth or income spectrum are struggling more than folks that are on the higher end,” Santomassimo said, adding that their credit card balances are growing as savings accumulated from pandemic stimulus programs diminish. https://www.kitco.com/news/article/2024-07-15/us-banks-signal-economic-trouble-declining-deposits-loan-risks-hit-profits

Napleton Aurora Imports in Illinois recently filed a lawsuit in federal court in Chicago, alleging that Hyundai pressured US auto dealers to "artificially inflate its publicly reported sales" of electric vehicles, creating a "false narrative" for consumers. The suit, Napleton Aurora Imports Inc et al v. Hyundai Motor America Corp, claims Hyundai instructed some dealers to "falsely report unsold vehicles as 'sold' to a retail customer or placed into loaner service, only to reverse the 'sale' the following month." https://www.zerohedge.com/markets/lawsuit-alleges-hyundai-conducted-secret-program-dealers-lie-about-ev-sales

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A small group of landlords who own hundreds of rental properties across the province have run out of money, owe over $144 million in unpaid loans and face dozens of lawsuits from creditors, according to documents filed with the Ontario Superior Court of Justice. https://www.cbc.ca/news/canada/hamilton/investors-bankruptcy-1.7102325

The developer bailout will help borrowers repay their loan over two generations, with projects at risk of default now able to extend their repayment term up to 55 years. https://betterdwelling.com/canada-begins-real-estate-developer-bail-out-with-55-year-loans/