The mainstream financial media is finally starting to wake up to the fact that we are on the cusp of, if not already in, a recession. Welcome to the world of the gated fund.
For example, Romspen Investment Corp. recently announced it will “temporarily defer payment” of redemptions from its $2.8-billion Romspen Mortgage Investment Fund. Starlight Group Property Holdings Inc., which owns $25-billion worth of apartment buildings and multifamily properties in Canada and the United States, just announced it is halting monthly payouts from two funds and has also started gating investor withdrawals.
And, even more notable, Blackstone Inc.’s US$69-billion real estate fund started limiting withdrawals last week. We read that the fund was somehow able to post a net 9.3-per-cent return over the first three quarters of the year while publicly traded real estate investment trusts (REITs) dropped 20 to 30 per cent in value.
Stocks changing values does not a recession make. The Canadian economy grew 3.9% from September 2021 to September 2022.
If you don’t believe me, prove it.
You are making an assertion, please show your work
How much did it lose the previous year, 18 months, or two years? Not a trick question, I don’t know, I would have to imagine that the COVID situation tanked the economy in 2020 and early 2021.
In SEP-21 it took $1.26 CAD to buy $1.00 USD. By SEP-22 the number was $1.38. In other words the Canadian Dollar fell by 10%. So the economy grew by 3.9% during that time. But it fell measurably when measured in USD. I suppose the Venezuelan economy is growing as well.
Reply to Allan S
Is that inflation adjusted?
I just received a “bad people could steal your info if you visit smalldeadanimals.com” warning. Who did you piss off this time Kate?
“Proceed to http://www.smalldeadanimals.com (unsafe)”
Not secure https (with a stike though it) ://www.smalldeadanimals.com/
Happens with Chrome, Brave browsers, but not with Microsoft Edge, Opera or Firefox browsers.
Yep, Kate finally made it onto the Google’s “naughty list”…just in time for Christmas!
You go girl… 🙂
Cheers
Hans Rupprecht, Commander in Chief
1st St Nicolaas Army
Army Group “True North”
It does happen with microsoft edge.
It is happening with Opera Mobile on my Android phone, and it wouldn’t let me post this message, which I am now doing using Vivaldi browser on my desktop.
“Bank of Canada’s FINAL Warning | We Were *WRONG* (full breakdown)”
https://www.youtube.com/watch?v=1twUlDW44Ks&ab_channel=RussellMatthews
Dennis, I think it’s more a matter of being forced to acknowledge the problem rather than sudden awareness. I believe they’ve been aware of it for some time but, in deference to their Prog paymasters, they’ve been glossing over the truth.
I have all my investments in Arkansas Rope, Gun and Knife Corporation, and they seem to be doing great. They say there is a steady flow of business from two unnamed individuals.
Don’t forget the Grub , Ammo and Booze Corp, GAB Corp.
recession? that is going to be forgotten pretty quick when the global famine reaches north america