U.S. banks warned on commercial property ‘black hole’
An article yesterday in the Financial Times (U.K.) points out that there are huge losses ahead for U.S. banks when the defaults start rolling in on $4 TRILLION of commercial real estate debt.
This is something you're not hearing from “news”(?) sources in the U.S., because it would hamper the rally in U.S. banks stocks which the Plunge Protection Team and the U.S. propaganda machine are trying to achieve through yet more market-manipulation. News that doesn't fit into the daily agenda of the U.S. financial crime syndicate is simply censored.
The main reason that the material reported in the Financial Times was not allowed to be reported in the U.S. was that several of the biggest fraud-factories (JP Morgan, Citigroup, and Bank of America) all made absurd statements about “profitability”. Pointing out that U.S. big-banks have not begun to write down their commercial real estate debt would be yet one more illustration of the fraudulent nature of the remarks made by those bankster CEO's.
There was also another aspect of this article which directly contradicted yet more, recent U.S. propaganda. Leon Black, head of Apollo management stated flatly that mergers and buy-outs are currently “dead” due to a complete absence of private equity to fund them.
Yet only a day earlier, I wrote a commentary on a piece of Bloomberg propaganda ("Bloomberg "pumping" U.S. markets yet again") – where Bloomberg rounded up a group of Wall Street schills, and allowed them all to make absurd predictions of rapid growth in M & A activity.
Readers outside the U.S. still do not grasp that a “free press” is totally extinct in the U.S., while here in Canada, only the government-owned Canadian Broadcasting Corporation is not controlled by a huge, media corporation. Thus, the only true “news” sources in North America which are NOT being forced to exclusively preach a pro-corporate agenda are on the internet.
In the meantime, here's a little tip to help people interpret U.S. news. How can you tell when an American “journalist” is lying? His lips move. Yes, it's on old joke, but a new fact.
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