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The economy - oops
Sky-high commercial real estate prices continue to worry:

https://www.bloomberg.com/graphics/2018-...t=business

Quote:Janet Yellen recorded the warning a day before stepping down as Federal Reserve chair in February: Commercial real estate prices look strikingly high. Her successor, Jerome Powell, flagged it again a month later.

Analysts at Goldman Sachs Group Inc. tried in May to put a number on it: Properties may be overvalued as much as 16 percent. Soon, Wells Fargo Chief Executive Officer Tim Sloan went on television, saying some deals looked “frothy” and that his bank was pulling back. In the past month, executives at regional lenders including U.S. Bancorp and KeyCorp have chimed in with similar concerns.

Yet, by some key metrics—most notably default rates—the market seems serene. So why all the handwringing?

Years of economic growth and easy financing have pushed prices for office towers, apartments and warehouses to record heights. Executives speaking out say they’re worried some buyers are betting too boldly that they can just keep raising rents.

But that’s not all.

Normally, banks would tap the brakes on lending, and the market would cool. But since the 2008 financial crisis—when banks became more disciplined—other lenders have muscled in and are keeping the financing flowing. They include debt funds with multibillion-dollar warchests that aren’t subject to the same level of oversight. Some are competing with aggressively low rates and terms. Now even some banks, under pressure to compete, have loosened standards in recent quarters, Fed surveys show.
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I'm sure it'll all work out fine.
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(10-15-2018, 02:27 PM)vtran Wrote: 125 yrs old....

Sears files for bankruptcy, and Eddie Lampert steps down as CEO

Only tangentially related, but I thought this thread on how Sears' catalogue ruffled the feathers of white supremacy during the Jim Crow era was super interesting:

https://twitter.com/louishyman/status/10...8415828993
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https://www.budget.senate.gov/ranking-me...-a-surplus


Quote:Report: If Not for Republican Policies, the Federal Government Would Be Running a Surplus
WASHINGTON, Oct. 15 – Following an announcement Monday from the Treasury that the federal government ran a deficit of $779 billion in Fiscal Year 2018, the Democratic staff on the Senate Budget Committee released a report showing that the federal government would be running a surplus today if not for four Republican policies.
Without the wars in Iraq and Afghanistan, the enormous post-9/11 defense buildup and two rounds of costly, regressive tax cuts, the federal government would be running a $156 billion surplus instead of a $779 billion deficit. The Trump Tax Cuts – which coupled permanent corporate tax cuts with temporary individual tax cuts – added $164 billion to the 2018 deficit.
The Bush tax cuts contributed $488 billion to the deficit in FY 2018, the Trump tax cuts added $164 billion, the direct costs of wars in Iraq and Afghanistan ran up $127 billion and base defense increases led to $156 billion in spending.
Instead of spending nearly $1 trillion on the military and tax cuts for the wealthy and large corporations, the federal government could have paid for any of the following proposals – multiple times over for some – in FY 2018 and still balanced the budget.
"Dictatorships foster oppression, dictatorships foster servitude, dictatorships foster cruelty; more abominable is the fact that they foster idiocy."

Xbox Live Gamer Tag: Strider Ryoken / PSN: Kenryo81 /Steam: Ryoken81
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In the event of another economic crash in the near future I've compiled this list of plentiful, delicious and wallet friendly things to eat:

1. The Rich
"I mean don't get me wrong fucking the wolf man is impressive but ugh." - Waaaaaaaalt
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A fraud suit got unsealed yesterday that showed Facebook greatly inflated its video-view statistics:

https://twitter.com/jason_kint/status/10...5602756608

I bring it up because it directly had a massive impact on journalism jobs:

https://twitter.com/dyfl/status/1052403439613829120

Quote:If you missed it: today it was confirmed that Facebook massively & knowingly inflated its video-view statistics, which had the DIRECT consequence of 90% of media orgs firing writers in favor of expensive video producers, who also got fired when it turned out video was worthless
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(10-17-2018, 12:17 PM)Iron Maiden Wrote: A fraud suit got unsealed yesterday that showed Facebook greatly inflated its video-view statistics:

https://twitter.com/jason_kint/status/10...5602756608

I bring it up because it directly had a massive impact on journalism jobs:

https://twitter.com/dyfl/status/1052403439613829120

Quote:If you missed it: today it was confirmed that Facebook massively & knowingly inflated its video-view statistics, which had the DIRECT consequence of 90% of media orgs firing writers in favor of expensive video producers, who also got fired when it turned out video was worthless


HA HA HAAAAA!

ZUCKERBERG. He's the candidate we deserve 2020!
If you're happy, you're not paying attention.

Originally Posted by JacknifeJohnny: 
Glad that you guys worked that out amongst yourselves.

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