Wednesday, May 5, 2021

The Dynamics Behind the Ugly Amount of Empty Office Space

by Wolf Richter, Wolf Street:

This sort of sudden structural collapse in demand for office space raises some existential questions for landlords.

Companies are not massively defaulting on their office leases, and that’s the good thing. But they have put a historic amount of vacant office space on the sublease market, while continuing to pay rent to the landlord. They decided they no longer need that much space, now that some form of flexible work, or hybrid work-from-home, or even permanent work-from-anywhere is being integrated into office real estate plans, cost cutting efforts, and footprint-reduction strategies.

Federal Judge Overturns CDC’s Eviction Moratorium

from ZeroHedge:

A month ago, The Wall Street Journal Editorial Board stated yet another true but unpopular fact: “Continuing government bans on eviction and foreclosure are doing more harm than good.”

The CDC invoked the 1944 Public Health Service Act, which allows the agency to take measures to prevent the spread of communicable diseases between states. People who get evicted might move in with family or friends and spread the disease, the CDC explained. What diktat couldn’t the CDC justify under this expansive rationale?

In short, the government is bludgeoning private businesses to fix a problem it created.

Push for U.S. ‘vaccine passport’ grows as Canada announces its own

from WND:

G7 nations in ‘ongoing conversation about how that might look’

The Biden administration has insisted it won’t cross the civil liberties barrier of requiring “vaccine passports,” but coordination already is underway with corporate world and now Canada’s health minister says America’s northern neighbor “absolutely” will require them for international travel.

What’s more, Canadian Health Minister Patty Hajdu says the G7 nations, of which the U.S. is a member, are in “an ongoing conversation about how that might look and how we might be able to have some sort of standardized approach to this.”

“Summer 2021 is Going to be Abnormally Violent” as Murders Continue to Rise

by Paul Joseph Watson, Summit News:

It’s going to be like 2020, maybe worse.

Summer 2021 is shaping up to be “abnormally violent” according to one expert, as data shows murders continue to rise in major American cities and the threat of more riots looms large.

According to John Roman, a senior fellow at the economics, justice and society group at NORC at the University of Chicago, the disruption of routine activities thanks to COVID lockdowns and the further loss of faith in the police will lead to more violent disorder.

Form for Students Attending Colleges or Universities Requiring Covid-19 Injections

by Corey Lynn, Corey’s Digs:

All over America, students are facing a very tough decision right now. Although some wish to accept a Covid-19 injection, many do not. The problem is that a growing number of colleges and universities are trying to deny students’ right to choose and their right to bodily integrity by requiring the vaccines as a condition of academic enrollment. In the United States and other jurisdictions, that is a violation of the law. It is also a violation of fundamental human and religious rights. As the Association of American Physicians and Surgeons recently wrote, “Students and their families may justifiably believe these policies discriminate against individuals who aren’t candidates for this vaccine, have pre-existing conditions, previous COVID-19 disease, cite religious objections, or are otherwise exercising their freewill choosing not to participate in this optional vaccine experiment.”1

Top Australian General’s Leaked Classified Briefing Says War With China A “High Likelihood”

from ZeroHedge:

The leaked content of a fiery anti-China speech and secretive briefing to elite military personnel by one of Australia’s top generals has landed on the front pages of major newspapers from Sydney to Melbourne to London on Tuesday. The confidential address issued by Major-General Adam Findlay, who was then commander of Australia’s special forces and currently advises the Australian Defense Force, had focused on a coming war with China which he said is a “high likelihood”. Publication of the speech’s full key controversial contents is now threatening to plunge China-Australia relations past breaking point.

HART: Bill And Melinda Gates Foundation Crumbles

by Ron Hart, The Daily Caller:

This is how you elegantly end a marriage, by releasing a classy statement: “Over the last 27 years, we have raised three incredible children and built a foundation that works all over the world to enable all people to lead healthy, productive lives. We continue to share a belief in that mission and will continue our work together at the foundation, but we no longer believe we can grow together as a couple in this next phase of our lives. We ask for space and privacy for our family as we begin to navigate this new life.”

Here’s the $47.6 Billion Stock Portfolio Bill Gates Will Keep to Himself after His Divorce from Melinda

by Pam Martens and Russ Martens, Wall St On Parade:

It was just 11 days ago that we wrote the following about family office hedge funds like Archegos that are failing to publicly file a list of their stock positions along with the market values, as the SEC requires for entities managing more than $100 million:

“Another example is billionaire Bill Gates’ family office, Cascade Investment LLC. According to CaproAsia it ranks number 3 among the world’s largest family offices with $51 billion in assets. Cascade Investment LLC hasn’t filed a 13F form with the SEC since the quarter ending September 30, 2008 (coincidentally, the same quarter that Wall Street blew itself up, taking the stock market along with it). At that point in time, Cascade Investment showed $4.32 billion in stock positions. Its only filings since that time simply show what stocks it’s acquired and sold, but not the 13F which would show the full positions in its portfolio and their value.”

We Are Dangerously Close To “The Tipping Point”

by Michael Snyder, The Economic Collapse Blog:

Every dollar that the federal government borrows and spends puts us even closer to a day of reckoning.  Many Americans (especially those on the left) seem to think that we can endlessly spend trillions upon trillions of dollars without ever suffering any consequences.  If that was true, why hasn’t any other society in all of human history ever been able to do such a thing?  Unfortunately, the truth is that the United States is not immune to the laws of economics.  Wildly creating money and driving up our national debt to absurd heights is inevitably going to crush our economic system.  And at this point, our debt-to-GDP ratio is already higher than Greece’s debt-to-GDP ratio was when the economy of that country finally collapsed