Well, perhaps not Slo-Mo after all. The C-Word has already hit the MSM. CONTAGION.
The reason I put up the story about the German bank was because of a simple rule. When CEOs and Fed Chairmen make reassuring public statements that there's nothing to worry about and the problems can be contained, you immediately know for sure it's time to start worrying and it definitely can't be contained. lol.
Now it becomes a question of which of the systemically important banks will be the first domino to fall and need a bailout. Deutchebank seems like a good candidate. Issue is the German economy is already on the rocks and it's difficult to see how they can pull off the same kind of bazooka with the Euro as Da Fed did with the Dollar in 2008 to bailout DBank. Without a bailout though, Dbank going down is like Lehman, except an order of magnitude worse.
The stock market should be fun the next couple of days.
https://fortune.com/europe/2024/02/07/commercial-real-estate-german-bank-deutsche-pfandbriefbank/
'Greatest real estate crisis since the financial crisis': German bank alerts the market on exposure to commercial real estate
RE
‘Greatest real estate crisis since the financial crisis’
Started by RE Feb 08, 2024, 01:25 AM
Message path : / Society / The American economy / Real Estate REgurgitations #10
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