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Desperate Investors Being Left High And Dry

A report from Bisnow New York. “The coronavirus pandemic brought New York City’s office market to a screeching halt. Adding to landlord concerns is the seemingly constant new supply of space. ‘If they [refinanced] recently, this is the problem,’ added Helen Hwang, senior executive managing director at Meridian Investment Sales.”

“New York still lags behind the average occupancy of the top 10 metro areas, at 35% last week — only San Francisco and San Jose are seeing fewer office workers in their buildings. ‘B-minus, maybe C-plus [buildings], mid-block, Garment Center, frankly, I don’t see any life for those. I don’t see any use for those,’ said Savanna founder Chris Schlank.”

From WCPO on Ohio. “Blue Tide Partners, a residential real estate company partly owned by former Cincinnati Bengals placekicker Doug Pelfrey, is drowning in red ink after losing a $39.9 million foreclosure judgment in Hamilton County Common Pleas Court earlier this month. The ruling puts more than 500 apartment units in Hamilton County under duress and makes it harder for Pelfrey to achieve the real estate goals he articulated in 2019. ‘I’m not in this to be a landlord,’ Pelfrey said at the time. ‘I’m in this to change people’s lives.'”

The Business Observer on Florida. “A Texas private equity firm has bought two local assisted living facilities in deals totaling more than $50 million. According to property records, Dallas-based Lone Star Funds bought Discovery Commons Cypress Point in Fort Myers for $32.3 million and Discovery Commons South Biscayne in North Port for $19.2 million.”

“Lone Star bought Discovery Commons South Biscayne after the property was foreclosed on and sold back to its debtor, Preston Holloway Capital, Jan. 14. According to Sarasota County court documents, $27.8 million was owed at the time of the sale. As for Discovery Commons Cypress Point, Lee County records show that Preston Holloway Capital bought the property Dec. 2. According to court records, $29.3 million was owed at the time.”

The Associated Press on Vermont. “After attempts to sell the Jay Peak ski area were halted at the start of the pandemic, sale discussions have been taking place with several parties this year, according to a update from the receiver appointed after the former owner was accused of fraud in 2016. Former Jay Peak owner Ariel Quiros of Miami, and former president William Stenger were accused by the Securities and Exchange Commission of misusing more than $200 million of about $400 million raised from foreign investors for area developments in ‘Ponzi-like fashion.'”

“Quiros and Stenger settled with the SEC, with Quiros surrendering more than $80 million in assets, including Jay Peak and Burke ski resorts. They were indicted criminally in 2019 along with two others over a failed plan to build a biotechnology plant using millions raised through the EB-5 visa program. The program encourages foreigners to invest in U.S. projects that create jobs in exchange for a chance to earn permanent U.S. residency.”

From Bisnow Washington DC. “The D.C. office market continues to lose occupancy and hit new vacancy records. Over the past 12 months, the Class-A segment in D.C. experienced negative absorption of 460K SF, while the Class-B segment experienced 1.5M SF of negative absorption, according to Newmark. Class-B vacancy now represents more than one-third of the District’s total vacant space, according to Newmark, compared to less than a quarter of the city’s vacancy in 2016.”

“‘I don’t know how C buildings are surviving, and B is kind of pushing it,’ said Lucia Hedke, a tenant representative. ‘Tenants are willing to pay for a great quality, safe environment. The reality is they don’t need as much space, so their annual costs are going to maintain, but they’re getting much higher quality. For B and C, it’s almost insulting that the product is there, and that someone is pushing it on someone like me, because I feel obligated to steer my clients away from a product that is not of a certain quality.'”

The San Francisco Chronicle in California. “The San Francisco Board of Supervisors on Tuesday unanimously rejected a group home development that would have added 316 micro-units in the heart of the Tenderloin. The project at 450 O’Farrell St. would have allowed property owner Fifth Church of Christ, Scientist to knock down an existing structure and replace it with a 13-story group housing complex. Supervisor Aaron Peskin said the project would have added to ‘a glut of group housing in the Tenderloin and Mid-Market areas, including those with a very high rate of turnover.'”

From Bisnow Los Angeles in California. “There is still a lot of uncertainty in the market for established and in-progress projects, whether from shortages of materials or workers, or the stretched timeline for needed approvals and permits due to city workers being remote, or the still unanswered question of whether workers will return to Downtown, executives speaking said.”

“‘We’re very fortunate that we’re a family business and we don’t have a lot of outside money that wants quarterly returns,’ Karney Properties CEO Aliza Karney Guren said. ‘But if you do want quarterly returns, God help you.'”

A press release on Canada. “Despite strengthening condominium sales, an oversupply of inventory relative to demand kept prices in check; in August, Calgary saw 332 condominium sales and 1,786 units of inventory – equating to roughly five months’ worth –and the healthiest amount of inventory across all housing types in the market.”

From Yahoo Finance. “Australian home buyers and investors have been warned to avoid certain suburbs in Australia, particularly in Sydney and Melbourne, which are at high risk of being oversupplied with thousands of new units flooding the market in those areas. Some locations are facing a major glut of newly developed units in the pipeline over the next 24 months – yet will likely remain vacant for a long while amid closed borders which have drastically reduced demand, according to data from Buyers Buyers.”

“‘Unit supply is a factor landlords need to be wary of,’ said Buyers Buyers CEO Doron Peleg. ‘Investors should be cautious about the risk of rental vacancies and capital loss, particularly investors who consider new or off-the-plan purchases.'”

“The number of units in NSW’s Schofields will more than double in two years’ time, with more than 3,000 units in development over the next 24 months. Rouse Hill in Sydney’s north-west is due for an 88 per cent increase in the volume of units in the area, with 1,274 units being developed. Meanwhile, the number of units in Western Australia’s Subiaco will increase by nearly half (46.4 per cent).”

From ABC News. “Evergrande’s meltdown is partly due to a cooling off in demand for new projects in smaller cities. There are 90 million apartments across China sitting vacant, according to Rhodium Group. Whether that number is accurate, there has been an extraordinary amount of construction, even for a country of China’s scale. On fast train journeys across the countryside, it’s common to see agricultural fields suddenly give way to 10 new apartment blocks, seemingly in the middle of nowhere.”

“The average price for a one-bedroom apartment in Shanghai is nudging towards $1 million. And the job magnet metropolis of Shenzhen is no bargain either, at about $700,000 for a flat.”

From Business Insider. “Once, Hu Haoqi’s dreamed about moving out of the two-bedroom apartment he shares with two of his friends and into an apartment of his own. He doesn’t want that anymore.Ever since news of Evergrande defaulting on its debts broke last month, Hu, 32, who works in Guangzhou, has spent a lot of free time ‘doom scrolling’ through housing-related threads.”

“‘It is extremely scary to read stories of people my age who put down deposits for Evergrande apartments, thinking they’d be able to move into a home of their own in five or six years,’ Hu told Insider. What scares Hu most are videos that feature abandoned ‘ghost cities’ and unfinished buildings. ‘I’ve seen accounts of people who dumped their savings over the last decade and a half into those deposits, and now they don’t know if the apartment building’s ever going to be fully built,’ Hu said. ‘I don’t want that to happen to me, so for now, I’m just going to keep renting and saving up.'”

“Zhuang Jingrui, 33, who works in a fashion company in Beijing, told Insider that she was planning to buy into a high-risk, high-return wealth management product from one of her college classmates. But she was ‘put off’ and got nervous about investing in anything at all after seeing videos of desperate Evergrande Wealth investors being left high and dry. ‘My college roommate was telling me that I could earn enough from my investments to buy a car in just two years if I just invested the savings I earned within the last year. Now, I’m starting to think that this all seems like a scam,’ Zhuang told Insider.”

This Post Has 91 Comments
  1. ‘New York still lags behind the average occupancy of the top 10 metro areas, at 35% last week’

    I’ve been seeing these numbers lately and how could there not be alarm bells going off? These cities are dead if this keeps up. Entire cities with no taxes and no businesses.

    ‘Office buildings in Downtown D.C., like in many other major business districts, have remained mostly empty for the 18 months since the coronavirus pandemic began. “It’s slower than we expected it to be,” Clyde’s Restaurant Group Chief Financial Officer Jeff Owens said. “What’s missing are those business lunches and the after-work happy hour cocktail business. We see those two segments are really down, and it’s because of the vacancies in the offices around us.”

    ‘Multiple data sources also show downtown activity had a minor increase after Labor Day but remains well below normal levels. The D.C. Metro area had 28.1% office occupancy the week of Sept. 8, according to Kastle Systems’ Back to Work Barometer, up from 27.5% the prior week but below the national average of 30.9%.’

    This CCP virus cult is gonna wipe you guys out.

    1. Downtown D.C. remains deserted

      ‘Downtown Washington is still missing many of the workers and visitors who once squeezed into Metro trains, lined up outside sandwich shops and stayed at swanky new hotels. On a recent jaunt, Cuneyt found eerily quiet parks from Dupont Circle to the newly renovated Franklin Park — and way more open parking spaces than he remembers two years ago.’

      ‘According to surveys and data from DowntownDC BID and Kastle, only about 1 in 4 workers has returned to in-person work downtown, BID spokesperson Emily Mooney tells Axios.’

      ‘Metro stations are deserted, and the numbers are stark. Farragut North station, a key downtown stop on the Red Line, averaged 3,800 daily riders in August — a shocking contrast to the 21,200 riders it had in August 2019, Metro data shows.’

      The swamp has been drained.

      1. deserted DC = downtown Calumet

        who wants to visit an occupied city, which, at any moment, on the slightest pretext, could turn into a killing zone?!

        1. AKA milking it. Most of these wfh pretend jobs need to go away, especially the tax money that funds them which they’re stealing from hard-working Americans.

      2. LA city council voted to implement full kielbasa passport for almost all indoor establishments and events.

        Exodus from LA about to accelerate.

    2. Speaking of CCP Flu:

      “Lutali, who has stage 5 renal failure, was told by the hospital in August that she wouldn’t need to be vaccinated to get her new kidney and was only made aware of the hospital’s new segregation policy when she received her letter in the mail”

      My mother just got her third clot shot. We chatted on the phone last weekend about blood clots, heart attacks, strokes, and death.

      Happy eighteen month anniversary of “fifteen days to flatten the curve!”

      1. That’s their m/o — they work incrementally. The first yes and it’s down the rabbit hole from that point.

        1. Where I live almost everybody is still stumbling around in face diapers. People in parking lots, stores, their cars, people riding their bikes, people out walking their dogs…guessing about 80% in masks. I was thinking that, if they told people walking upright was causing spread because respiratory droplets were carrying in air for longer distances, they could get people to crawl around on all fours. They’d be demonizing “anti-crawlers” on cnn and msnbc all day for killing grandma.

          1. Lots of face-huggers here. WTOP news radio is getting into the game too. Just this morning they had some nonsense about how even boostered people need to still take precautions, which is code for “masks forever.” If it’s not COVID, it will be flu, or a cold.

            I had a “discussion” with a co-worker. She seems to think that we are going to be wearing masks not only until 90% of the US is vaccinated, but 90% of the entire world is vaccinated too. And of course, the US has the responsibility to pay for all this because “we’re the best country.”

    3. “These cities are dead if this keeps up. Entire cities with no taxes and no businesses.”

      Talked to my boss who had to go to HDQ in midtown(which is never a good sign but that’s another story) last week. He had to deal with…. guess what….. window washers at lincoln tunnel. That’s right…. they’re back…. along with junkies strung out all over bryant park and the sidewalks.

      It’s a proud proud moment in history for Biden, Diblasio and the 10 maggots who voted for them.

        1. In NYC BG (Before Guiliani) they were everywhere, especially at highway exits. My bf and I were in his days old, brand new car and a tall, burly squeegee guy makes a beeline towards us. BF keeps saying “he’s going to put that dirty rag on my car!” over and over like he’s going to lose his mind. He reaches under the driver’s seat, pulls out an axe, opens the door and steps just outside the car, looking at the guy. Bum, still at a small distance, puts his hands up, says “okay man” and walks backwards away from us. BF was the most even-tempered, kind, hippie-ish person but he never had a new car before. I was so shocked at bf’s reaction, the hair on my head was standing up =-o .

          1. wow, cool story Tara!
            (I think it’s a guy/car/thing that’s in our genes.)
            my first new vehicle was a plain jane but brand new (8 miles) small Isuzu truck.
            I kept holding-off getting it washed as long as possible because I KNEW the brushes would leave swirl marks. . .
            after many repeated “wash me” signatures it was time and yep, gottdang swirl marks on the hood!

    1. I don’t know if this is a blow off top or maybe we reached terminal inflationary velocity. Prices in my hood in San Diego are continuing to rise. It seems every week. A 1000 sq ft 2BR/2BA on a small lot two doors down from me was just listed for 840k$. The average house going pending is 850-900k That new listing topped out at about 450-500k in the last bubble. We are nearly double that now. I have a strong suspicion that rather than tapering the Fed is going to use the Evergrande collapse as an excuse to launch triple digit trillions of dollars of “liquidity” into the system and drive asset prices even higher.

      1. triple digit trillions of dollars of “liquidity”

        Curing excess debt with more debt has its limitations.

      2. an excuse to launch triple digit trillions of dollars of “liquidity” into the system and drive asset prices even higher

        Given the utter lack of concern over inflation, it seems likely.

  2. ‘misusing more than $200 million of about $400 million raised from foreign investors for area developments in ‘Ponzi-like fashion’

    ‘indicted criminally in 2019 along with two others over a failed plan to build a biotechnology plant using millions raised through the EB-5 visa program’


  3. ‘I’m not in this to be a landlord’

    Well that’s good placekicker Doug, cuz yer no longer a landlord. Say, why do they mention positions in crime reports? They’ll say, “wide receiver so and so is wanted for murder.” Is the position relevant?

    And why do they always say “big tight end.” Are they all big?

    1. ‘I’m not in this to be a landlord,’ Pelfrey said at the time. ‘I’m in this to change people’s lives.’”

      🤣🤣🤣 “Change peoples lives”?

      The only one changed is his own…. which should have been his goal from the get go.

      Pelfrey has bats in his belfrey.

  4. ‘it’s common to see agricultural fields suddenly give way to 10 new apartment blocks, seemingly in the middle of nowhere’

    And there’s a photo! It’s not “seemingly” in the middle of nowhere, it is in the middle of nowhere. I’m amused watching the media fall over themselves to describe China. Like all these things haven’t been visible for over a decade.

    1. If memory serves, I believe I saw those photos on this very blog about 15 years ago. How time flies…

    2. “I’m amused watching the media fall over themselves to describe China. Like all these things haven’t been visible for over a decade.”

      News does not become news until the PTB information gatekeepers decide that it will become news. Only then, thusly anointed by the PTB as news, does information become officially accepted as news; Up until this time such information is deemed to be fake news.

        1. It’s a construction. I’ve read several times that the power outages in China are cuz the plants can’t make a profit due to expensive coal. Since when did making a profit matter in China? And if it’s so top down commie, would pooh bear really let factories sit idle? That’s only going to result in economic disaster.

          And why is Soros suddenly pounding the table that Xi is gonna ruin globalism? I don’t know what’s going on, but it isn’t what we’re being told.

          1. And why is Soros suddenly pounding the table that Xi is gonna ruin globalism? I don’t know what’s going on, but it isn’t what we’re being told.

            Follow the money. Soros is obviously about to lose some due to China’s antics, so suddenly “China bad.”

          2. A guy recently made a good case to me for the following: when you hear Soros, think royal family/British intelligence cabal. There’s no way one guy is getting his fingers/funding in so many operations around the world.

  5. Another reason I work for a company with less than fifty employees:

    “How CRT gets there is the problem. Racism gets rooted out mainly by brainwashing white people into believing they are inherently evil racists. They are inherently evil racists because America is systemically racist, no matter how much it has strived during its history to be better. 

    Thus to be good corporate citizens, they need to be re-educated and reprogrammed from their ­inherently racist past. 

    If you think that sounds a little like the stuff Stalin, Mao and Pol Pot pushed back in the day, you wouldn’t be wrong.”

    Remember, the Southern Poverty Law Center and the Anti Defamation League were, in fact, never elected to govern anything. They hide behind their non-profit status and alleged purpose as “civil rights organizations” when they are, in reality, the largest proponents of white genocide.

    Replacement theory is not a theory, it is the Democrat Party blueprint for white genocide.

    1. AG’s daughter is married to the man who publishes this racist genocide for schools, which is why the AG has labeled parents as domestic terrorists if they publicly object to this toxic propaganda. AG has ordered his political FBI hound dogs to threaten and arrest parents who object to this poison.

    2. Vibrants emboldened by the anti-white policies and bias being pushed by Democrat-Bolshevik municipal administrations and Soros-installed DAs are stepping up their “random” assaults on whites & Asians.

      PICTURED: Victim of unprovoked NYC subway pusher who is in hospital with broken nose and arm and too scared to ever catch train again: Suspect was charged with assault in July but released without bail

      1. Now she’s charged with attempted murder. I wonder if she’s already out on (no) bail?
        Almost as disgusting as the act itself was everyone just standing around watching the thug walk by after the attack. Bunch of cowards.

        1. Any white person who interferes with a vibrant going about their Democrat-Bolshevik approved and encouraged vibrancy would find themselves arraigned before an Affirmative Action judge hand-picked for their corruption and unswerving adherence to globalist-dictated agendas, before facing a “jury of their peers” where a System railroading is assured. I don’t blame any white bystanders for not intervening under the circumstances. You’d have to be crazy to live in such a Commie-controlled city in the first place.

      2. The perp: “Egegbara’s family said she has long suffered from mental illness and has been diagnosed with schizophrenia, among other disorders.”

        She’s obviously a menace to society who belongs in a cage.

  6. ‘Veteran ESPN host Sage Steele is off the air this week after criticizing the Walt Disney Co. unit’s vaccination policy on a podcast. Steele appeared on a Sept. 29 episode of “Uncut with Jay Cutler,” hosted by the former NFL quarterback, where she called vaccine mandates “sick” and “scary.”

    ‘Steele also questioned why former President Barack Obama identified as Black when his mother was white and his father was not part of his upbringing.’

    ‘After Steele’s remarks were reported by Front Office Sports, ESPN pulled Steele from the air. Steele, who recently tested positive for COVID-19, will be back sometime next week, according to a representative for the network.’

    ‘Steele, who joined ESPN in 2007, issued a statement apologizing for her remarks. “We are in the midst of an extremely challenging time that impacts all of us, and it’s more critical than ever that we communicate constructively and thoughtfully,” Steele said.’

    ‘Steele told Cutler she got her COVID-19 vaccine on Sept. 29, a day before the deadline set by Disney’s policy, after long resisting it. “I didn’t want to do it but I work for a company that mandates it and I had until Sept. 30 or I was out,” Steele said. “I respect everyone’s decision, I really do, but to mandate it is sick and it’s scary to me in many ways,” she added. “I don’t know what comes next, but I do know for me personally, I feel like [I’m] defeated.”

    And yer a dead woman walking Sage. Like all others who need replacing, you should put the good old HBB in yer wills. I’ll sell yer shacks and use the money to repopulate the planet.

    1. “Steele also questioned why former President Barack Obama identified as Black when his mother was white and his father was not part of his upbringing.”

      Another doting dad like drug-hooping George Floyd?

  7. Evergrande Backer Shares Surge More Than 30% as it Proposes Privatization While Creditors Remain UNPAID (Report)

    Chinese Estates Holdings Ltd shares jumped as much as 32% on Thursday after the frmr major shareholder in China Evergrande Group announced an offer to go private for a $245mn price tag. (Reuters)

    The Hong Kong developer’s biggest shareholder, the family of Joseph Lau, proposed to take it private this week by offering minority shareholders a 38% premium to its last traded price.

    Holders of a dollar bond guaranteed by China Evergrande Group and one of its units are yet to receive repayment on maturity – Jumbo Fortune Enterprises creditors were due money on Monday. Nonpayment of the bond’s principal may constitute a DEFAULT as the note has no grace period. (Bloomberg)

  8. In the markets I track, I am seeing new listings come on the market and immediately get a 10-20% reduction in the asking price. Immediately as in the same day or maybe the next day. And as far as I can tell, it is not a relisting. Is anyone else seeing this? I’m not sure why the sellers’ agents think that’s a good tactic. When I see a 20% drop I can smell the blood in the water.

    1. I’m not sure why the sellers’ agents think that’s a good tactic.

      I don’t think it’s a tactic. It’s likely no activity on the original listing and the seller wants out ASAP. Who in their right mind would buy now when each week is crazier than the last.

      1. Why wouldn’t they just relist at the “new price”? Why relist at the same price and then do a 20% reduction immediately?

  9. Frances Haugen, the former Facebook employee who testified before the Senate commerce committee today, has a history of left-wing activism and is working with the same lawyer who represented the alleged Ukraine whistleblower who sparked the second bogus Trump impeachment.

    Haugen, unlike other Facebook whistleblowers who have been ignored by the media, has called for more censorship of the platform, not less — and, according to her remarks at the hearing today, wants the government to step in to make it happen.

    1. I’ve read, but haven’t fact-checked, that her group suppressed the Hunter Biden story.

  10. Are there any limits on the use of cryptocurrencies to hide illegally acquired wealth or launder money?

  11. No wonder the CCP is suppressing information sharing on social media platforms. Can’t have ordinary Chinese citizens comparing notes on the many financial scams in play to which they might fall victim.

    “‘My college roommate was telling me that I could earn enough from my investments to buy a car in just two years if I just invested the savings I earned within the last year. Now, I’m starting to think that this all seems like a scam,’ Zhuang told Insider.”

    1. by the time the average shoe shine boy gets wind of a financial tip it’s already too late to avoid a shearing.

  12. “On fast train journeys across the countryside, it’s common to see agricultural fields suddenly give way to 10 new apartment blocks, seemingly in the middle of nowhere.”

    Any thoughts on what is going to become of these abandoned orphan apartment blocks in the hinterlands?

  13. Are you paying attention yet? Add in immunity from liability and profits from treating side effects.

    The Intercept (link unnecessary):
    The Covid-19 treatment molnupiravir was developed using funding from the National Institutes of Health and the Department of Defense.

        1. Maybe they punched up the red in the image I saw. I just automatically assume that we’re being mocked.

          1. I just saw a video clip (from a processing facility?) where the pills do look more red than the first picture I saw. Is the simulation winking at us?!

  14. Any thoughts about why stonks are going up like crazy while PMs are getting hammered against the backdrop of inflation fears?

  15. “Consider these facts: Jessica died as a direct result of an experimental vaccine, a vaccine that she vehemently opposed taking,” her uncle said speaking from a podium.

    “Jessica felt coerced. She felt robbed of her ability to choose, her ability to say, ‘No,’ to say, ‘No’ to a medical procedure she did not want was taken from her.”

    Niece – “Jessica Died as a Direct Result of an Experimental Vaccine”

    by Adan Salazar
    October 7th 2021, 1:42 pm

    ‘Jessica felt coerced. She felt robbed of her ability to choose, her ability to say, ‘No’…to a medical procedure.’

    Twitter attempted to censor obituary of 37-year-old mother of two who developed blood clot after being forced to get vaccine by employer.

    Excerpt #2 Funeral Mass for Jessica Wilson, Saturday, October 2nd, 2021 at 11AM copy copy

    Oct 4, 2021

  16. Is this Enron writ large?

    October 7, 2021 12:27 PM PDT
    Last Updated 5 hours ago
    Evergrande and other Chinese property giants have sizeable off-balance sheet debt – JPMorgan
    By Marc Jones
    2 minute read
    The China Evergrande Centre building sign is seen in Hong Kong, China, September 23, 2021.
    REUTERS/Tyrone Siu//File Photo

    LONDON, Oct 7 (Reuters) – Investment bank JPMorgan has estimated that troubled Chinese property giant Evergrande and many of its major rivals have billions of dollars worth of off-balance sheet debt that, once added on, ramp up their leverage ratios.

    JPMorgan’s China and Hong Kong property analysts said the tactic is likely to have been used to help firms look like they were conforming with new borrowing cap rules introduced last year, but Evergrande’s case looks the most extreme.

    “Instead of true deleveraging, we think Evergrande has shifted some of the interest-bearing debt to off-balance sheet debt,” JPMorgan’s analysts said. “Commercial papers, wealth management products and perpetual capital securities, etc, which are not officially counted as debt.”

    1. China
      Evergrande bondholders to mull options as woes hit Chinese property bonds, shares
      By Andrew Galbraith and Anshuman Daga
      5 minute read
      – Some Evergrande bondholders to discuss missed payment on Friday
      – Fantasia onshore bond’s trade suspended after slumping over 50%
      – Evergrande dollar-bond trustee Citi hires Mayer Brown as counsel
      – Evergrande due to pay nearly $150 mln in coupons next week

      SHANGHAI/SINGAPORE, Oct 8 (Reuters) – Chinese property developers’ bonds and shares slumped on Friday with few clues as to how local regulators propose to contain the contagion from cash-strapped China Evergrande Group that faces nearly $150 million in offshore payment obligations next week.

      Evergrande, which is facing one of the country’s largest defaults as it wrestles with more than $300 billion of debt, has already missed coupon payments on dollar bonds twice last month.

      Some of the offshore bondholders of Evergrande will be holding a call on Friday evening Asia time to discuss options after the company missed payments worth a combined $131 million last month, said a person familiar with the matter.

      “At this point, the call is basically to get a group of bond holders together so they can negotiate better,” said the person, who declined to be named because he was not authorised to speak to the media.

      “Everyone’s trying to get any information available, so they can start planning their next move.”

      Bloomberg first reported that some dollar bondholders were invited by advisers to a call on Friday 0630 EST (1030 GMT) to discuss strategy.

      1. “Evergrande dollar-bond trustee Citi hires Mayer Brown as counsel”

        Interesting that Citi’s name comes up, as we’ve been repeatedly assured that Wall Street’s exposure to Evergrande is minimal.

        It certainly does ring bells with the dawning of the 2007-2008 subprime mortgage collapse, when similar reassurances were offered about Wall Street’s limited exposure

  17. Vanilla Fudge – You Keep Me Hangin’ On (1967)

    Rock Legend Drummer Bashes Covid Vax: ‘Nobody Knows If It’s Really A Vaccine, Or Something To Kill Everybody’
    October 7th 2021, 6:17 pm

    Percussionist Carmine Appice not marching to beat of globalist drum.

    Legendary rock drummer Carmine Appice cut through the politically correct BS during an interview Thursday, mentioning how the Covid vaccine hasn’t undergone long term trials to determine whether it’s deadly or not.

    In an interview with Rocking With Jam Man on YouTube, the Vanilla Fudge drummer discussed how the coronavirus lockdowns and vaccine mandates affected his touring career, calling them the “craziest thing” he’s ever seen.

    “In your life do you ever think anything as crazy as [coronavirus lockdowns] would happen?” asked the vlog’s 9-year-old host.

    “No. I think it’s all political. But we won’t get into that. It went to the election. I think it was all planned. But anyway, we won’t get into that,” Appice stated.

    “Yeah, we don’t… I can’t get into that, man,” replied the show host, evidently aware of the censorship around taboo key words on YouTube. “We can’t either. Me or you, we’re gonna get canceled.”

    Appice also affirmed he did not enjoy taking a break from touring when coronavirus lockdowns hit around the globe.

    “I made do of it. But I didn’t enjoy it,” the former Rod Stewart drummer said, adding, “I would have rather been playing gigs.”

  18. So now the Biden regime is importing outright Commies to work with the Fed on our money issuance. I am Jack’s complete lack of surprise.

    EXCLUSIVE: How Biden’s Soviet-born currency comptroller pick Saule Omarova was ‘born in a YURT’ and went on to become leader in the Young Communists: Friend claims she STILL owes her money for giving up her university dorm room

    Joe Biden’s pick for Comptroller of the Currency Saule Omarova was an ardent Young Communist who was ‘born in a yurt’ – a traditional tent in the Kazakhstan steppe – who fled the Soviet Union for America and allegedly left behind an unpaid debt to a friend at Moscow State University.

    An exclusive new picture shows tango-dancing Omarova, 54, as a student at the prestigious Russian educational institution alongside a crowd of classmates and teachers in the Gorbachev era of 1988 after her childhood where she grew up as head of her local Komsomol.

  19. Doctor Says Physicians Are Being “Hunted” For Speaking Out by Press & Medical Boards

    by Paul Joseph Watson
    October 7th 2021, 3:55 pm

    Dr Robert Malone, the inventor of mRNA vaccines, says he was branded a “terrorist” by the media in Italy and warns that physicians who speak out are being “hunted via medical boards and the press.”

    “I am going to speak bluntly,” tweeted Malone. “Physicians who speak out are being actively hunted via medical boards and the press. They are trying to deligitimize and pick us off one by one. This is not a conspiracy theory – this is a fact. Please wake up. This is happening globally.”

    “I was labeled as a ‘terrorist’ in the Italian press when I was in Rome for the International COVID Summit. My crime? Advocating for early treatment of COVID-19 disease. I suggest that merits a bit of meditation,” he added.

    1. Twitter has labeled the link to his scientific discussion with Geert Vanden Bossche as unsafe.

    2. Your a terrorist if you don’t go along with a Medical Tyranny based on fraud , and being subjected to expiermental injections that the real data shows aren’t safe or effective.

  20. 7% of polled Americans have “a great deal” of trust in the media? LOLZ who are these people?
    One of these guys is college friend of mine; a retired College professor believes everything CNN and the NYT say. He sends me a fair number of CNN Youtubes and I just shake my head. I quit responding because, why waste my time. He is still B#itching about the 2004 election being stolen.

      1. I’m visiting my cousin in NYC next week. We were discussing where I, a deplorable unwashed transvaxxite without proof of vaccination, am allowed to go there. I asked her if she is vaxxed and she said, oh, you’ll be mad at me, but I am. I was appalled, said oh no, that was up to you. She said none of her “friends” would see her if she was not. I’ve met quite a few of her friends, no dummies, most fellow attys and apparently goose stepping bitches. I would never do that to a friend.

        1. A friend offered to lend me her small white card along with her union ID. I hadn’t even considered that, but I’m going to take her up on her offer. Husband objects, but he’s not going. I’ll take my chances with the Hostess police.

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