On Wire

Breaking news, updates, and reports on current events.

Blackstone limited withdrawals from its $69 billion unlisted real estate income trust (REIT) on Thursday after a surge of redemption requests

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by silvertomars Closing the gates and leaving investors with illiquid positions they can’t redeem. Investors fear Blackstone has been slow to mark down valuations. Asset panic leading to liquidity problems, hmm. I do believe I have seen this before. https://www.reuters.com/business/finance/blackstone-limits-redemptions-69-billion-reit-2022-12-01/ Blackstone Real Estate Income Trust (BREIT) is a real estate investment trust that invests in … Read more

California reparations committee will recommend handing out $223,200 to descendant of slaves (and this will be funded how?)

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Gavin Newsom’s reparations committee will recommend handing out $223,200 per person to all descendants of slaves in California for ‘housing discrimination’ at a cost of $559BN – in nation’s biggest restitution effort ever A task force was set up in California to make proposals for slavery reparations Descendants of slaves in California could receive $223,200 each, … Read more

Home builders don’t typically throw incentives at buyers already in backlog, but it’s happening now.

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Ton of homes in backlog waiting to close still due to stretched build cycles. Construction costs have yet to decline and lion's share of homes in backlog reflect still elevated build costs, but now having to adjust lower on implied average sales price, thus margin squeeze. — Rick Palacios Jr. (@RickPalaciosJr) November 30, 2022 US … Read more

Housing Bubble 2.0 is bursting. Cue the next Great Financial Crisis in 3-2-1

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This is the fifth consecutive month of of month-over-month declines, and pending home sales have now fallen in 11 of the last 12 months.https://t.co/895uWSQ2Hd — HousingWire (@HousingWire) November 30, 2022 First-time homebuyers priced out by speculators and corporate “investors” flush with unlimited Yellen Bux to blow on houses – knowing the Fed & middle class … Read more

$1.3 trillion has been wiped from the crypto market so far this year…. Another day, another crypto scam!

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$1.3 trillion has been wiped from the crypto market so far this year. Tech: hold my beer. pic.twitter.com/UqbpOlxRBT — Genevieve Roch-Decter, CFA (@GRDecter) December 1, 2022 Another day, another crypto scam! This time, 21 people have been charged for participating in a global money laundering scheme that had an estimated annual flow of over $300 million. … Read more

CREDIT SUISSE is the next Bear Stearns?

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CREDIT SUISSE IS EXAMINING WAYS TO ACCELERATE COST CUTS AS REVENUE OUTLOOK DETERIORATES, LIKELY TO INCLUDE MORE JOBS THAN PREVIOUSLY ANNOUNCED FOR FIRST WAVE – SOURCES. $CS — FinancialJuice Stocks (@FJ_Stocks) December 1, 2022 Meanwhile credit suisse… pic.twitter.com/AXJEFn07Am — Alessio (@AlessioTMAD) December 1, 2022 Seeing the Credit Suisse rumors. Reminds me of Bear Stearns early … Read more

Will You Try Elon’s Brain Chip?

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by Chris Black This is it, boys. Once the human race steps through this threshold there is no going back. Nothing but a future of complete subservience is ahead of us. Elon Musk said on Wednesday he expects a wireless brain chip developed by his company Neuralink to begin human clinical trials in six months, … Read more

400% Increase In Job Cuts In November

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by confoundedinterest17 As soon as Bidenflation started soaring with his war on fossil fuels and manic Federal spending, we saw The Federal Reserve starting to remove the excessive monetary stimulus, but Congress didn’t cancel its spending spree. We ADP jobs report yesterday was ugly (+127k jobs added after +239k jobs added in October). Now we have … Read more

SHOCKING footage of Chinese police brutality…..oh wait, that’s Canada

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#BREAKING: Shocking footage of a brutal police crack down on peaceful protesters in China has been leaked online! Oh wait, that’s Trudeau’s Canada. Carry on. https://t.co/EOJr1i2cyK — Rukshan Fernando (@therealrukshan) November 30, 2022 PM Justin Trudeau: "Everyone in China should be allowed to protest. We will continue to ensure that China knows we will stand … Read more