China might not be the only country with property management woes.  The US is now showing signs of having property woes as well.

In December and for months we reported on the collapsing property management business in China.  This industry which was a quarter of China’s GDP was falling apart as companies could no longer pay their debt.  Chinese company Evergrande with over $300 billion in debt was falling apart.  It looked like Evergrande’s solvency was part of a bigger issue.

China’s Property Sector Shows Signs of Falling Apart Which Would Impact the China Economy Significantly

Now we have to look at the US property market, specifically the commercial property market.  COVID showed that companies no longer had to maintain huge office buildings for their employees.  People could work from home.  This cost-saving was noticed and big inner cities will be the victims.

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Zero Hedge reports:

The world’s largest owner of commercial real estate, Blackstone has turned over the keys of 1740 Broadway, a 26-story office tower a block from Carnegie Hall, to the special servicer on its $308M commercial mortgage-backed security, Commercial Observer reports.

Deutsche Bank originated the loan in 2015 as part of a single-asset, single-borrower CMBS deal and enlisted special servicer Green Loan Services to manage the financing deal. Blackstone has extensive Manhattan holdings, and the decision to hand the keys to Green Loan Service is “a one-off occurrence,” a source close to the deal told CO.

Blackstone bought the 621K SF tower from Vornado Realty Trust in 2014 for $605M. It has lost two major tenants in recent years, with law firm Davis + Gilbert leaving for Rudin’s 1675 Broadway in 2019 and L Brands electing not to renew its 418K SF lease, instead moving to 55 Water St. in 2020.

“This asset faces a unique set of challenges, and we are working diligently to find a solution that is in the best interests of all parties involved, including our investors and lender,” a Blackstone spokesperson said of the building.

“The vast majority of our office portfolio comprises differentiated office properties, such as life science office and office properties benefitting from content creation tailwinds, and we are confident those properties will continue to outperform. We continue to be big believers in New York and cities like it that are hubs for innovation and talent.”

Blackstone’s decision to cut its losses at 1740 Broadway echoes recent moves in Chicago, another office market suffering from macroeconomic shifts. Last week, two towers each spanning over 1M SF were on track to find themselves in the hand of lenders, according to CMBS tracking firm Trepp.

After crushing the job market for small business owners during COVID, now the big buildings are quickly becoming a thing of the past.  It looks like China is not alone.  However, the commercial property business in the US is much smaller than that in China as a percent of GDP.

A federal judge on Monday ruled former president Trump likely committed crimes when he ‘attempted to obstruct’ Congress on January 6, 2021.

US District Judge David Carter, a Clinton appointee ruled that Trump “more likely than not” committed felony obstruction.

“Based on the evidence, the Court finds it more likely than not that President Trump corruptly attempted to obstruct the Joint Session of Congress on January 6, 2021,” the judge wrote, according to ABC News.

Earlier this month the January 6 Committee said Trump may have engaged in criminal conduct to overturn the 2020 election.

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“Evidence and information available to the Committee establishes a good-faith belief that Mr. Trump and others may have engaged in criminal and/or fraudulent acts,” the committee said in a court filing.

The filing was submitted in federal court in Los Angeles as part of a legal fight with John Eastman, a lawyer who has represented Trump.

Eastman sued the January 6 panel in December in an effort to block a subpoena seeking emails.

Judge David Carter in a ruling on Monday ordered John Eastman to turn over nearly all documents and said Trump likely committed crimes.

ABC News reported:

A federal judge has found that former President Donald Trump “more likely than not” committed felony obstruction in the effort to overturn the 2020 presidential election.

U.S District Judge David Carter said in the ruling that Trump’s former lawyer John Eastman must turn over most documents he is withholding from the Jan. 6 House committee investigating the attack on the U.S Capitol.

Judge Carter, who reviewed Eastman’s documents, ordered Eastman to turn over all but ten that the court found privileged.

The judge, a Clinton appointee, provided a summary of several documents Eastman has sought to block.

“The eleventh document is a chain forwarding to Dr. Eastman a draft memo written for President Trump’s attorney Rudy Giuliani,” Carter wrote. “The memo recommended that Vice President Pence reject electors from contested states on January 6. This may have been the first time members of President Trump’s team transformed a legal interpretation of the Electoral Count Act into a day-by-day plan of action.”

Roger Stone Blasts the Jan 6 Committee Report as a “FICTION”

The report of Nancy Pelosi’s handpicked January 6 House Committee is out and needless to say, it is a masterpiece of lies, hyperbole, conjecture, supposition, fantasy, and “guilt by association.”

Of course, the crackpots, smear artists, and left-wing conspiracy theorists on Twitter will gin up the usual baseless “guilt by association” insinuations based on this inaccurate report.

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Let me make clear that I have never spoken or communicated with former White House Chief of Staff Mark Meadows in my entire life and I haven’t spoken to former Trump Trade advisor Peter Navarro in over three years. Even if I had spoken to them, which I didn’t, it would prove nothing!

The report specifically said, “When Roger Stone appeared to testify before the Select Committee and was asked questions about the events of January 6th, he repeatedly invoked his Fifth Amendment right against self-incrimination.”

As l made clear at the time, I invoked my Fifth Amendment rights not because I did anything wrong or have any information to hide but simply because I have had too much first-hand experience with the House Democrats’ ability to take innocuous, immaterial, and irrelevant comments made under oath and twist them into the crime of “lying to Congress”. Been there. Done that.

The committee report says they “want to question Mr. Navarro on…” the connections, involvement, and planning for January 6th events by Mr. Navarro, Roger Stone, and other individuals who have refused to provide testimony to the Select Committee”

I am so tired of being clickbait for leftists.  Let me make clear once again that I have NO connections, involvement nor was I involved in the planning of the events of January 6. There is no evidence or witness that would prove contrary.

Since it was the goal of Trump allies to seek a 10-day delay in the certification of the results of the Electoral College in order to more thoroughly examine the irregularities, anomalies, and, in some cases, outright fraud in the states of Arizona, Pennsylvania, Michigan Wisconsin, and Nevada. Those poor misguided souls who stormed the Capitol on January 6 destroyed any possibility of winning the votes necessary for this perfectly reasonable -and legal-delay in the certification of the election.

Back in 2016, Hillary Clinton campaign manager John Podesta wanted to make a special presentation to the Electoral College to argue against the certification of Donald Trump’s election based on non-existent Russian collusion with the Trump campaign. It was not considered treasonous, seditious, or improper. The hysteria over the January 6 fiasco proves once again that we have a two-tiered justice system. 

With these new revelations, I will once again have to fight to prevent these politically motivated hucksters who are, even as we speak, suing President Trump and me blaming us falsely for the January 6th riot.  You can help me fight these ghouls by donating at stonedefensefund.com

Over the weekend the US bond yield curve inverted briefly for the first time in 16 years, since the Great Recession in 2008.

Markets Insider-MSN reported:

Part of the US bond yield curve briefly inverted for the first time since 2006 Monday, adding to fears that a recession could soon hit the country’s economy as the Federal Reserve hikes interest rates hard.

The yield on the 5-year Treasury note rose above the yield on the 30-year Treasury bond, an event that hasn’t happened for the last 16 years.

Monday’s move added to chatter on Wall Street and in other financial centers that a recession may be on its way, given bond yield curve inversions have historically foreshadowed sharp economic slowdowns in the US.

Steve Cortes warned The War Room audience that there was a US recession every timt the rate yield curves inverted since 1955. Every time except one!

Pennsylvania – At least 20 vehicles were involved in a fiery pile-up on Interstate 81 Monday morning in Schuylkill County.

Multiple vehicles are on fire and people are trapped.

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A “mass casualty” incident has been declared.

WNEP reported:

A crash involving multiple vehicles closed part of a highway Monday morning in Schuylkill County.

The crash closed the northbound lanes of Interstate 81 between the Route 901 exit (116) and the Highridge Park Road exit (119), according to PennDOT.

There is no word on what led to the wreck or how long the road will be closed.

Video from the scene shows snowy conditions and chain-reaction crashes.

A person who escaped his car posted video of the fiery pile-up to Facebook.

WATCH (language warning):

DEVELOPING….

Last March 4, 2022, the Washington State Tea Room, a monumental state-wide movement, attempted to serve Washington state officials with over 30,000 lawful affidavits from the Citizens of Washington demanding an end to all mandates and requesting a forensic audit of the 2020 election.

Speaking to the Gateway Pundit, the founder of WA State Tea Room, Brianna Mattes said, “this recent serving is the first of two in the first phase of our mission.”

Inslee’s office refused to accept service or sign for the documents as well as the AG Fergusons office, Jinkins’ office, Murray, and Cantwell’s offices. Only Lt. Governor Heck’s office signed for the documents and took service.

On March 24, Governor Inslee’s office and others took service with the second round of affidavits after failing to respond. Speaker of the house Laurie Jinkins, and Senators Patty Murray and Maria Cantwell continue to refuse service.

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“We have now officially served the Governor of WA State, Jay Inslee, the Lt Governor, Denny Heck, and our Attorney General, Bob Ferguson with both batches of signed and notarized documents, meant for them. The holdouts continue to be our Speaker of the House, Laurie Jinkins, our US senator, Patty Murray, and our junior US senator, Maria Cantwell. But after the ease of yesterday’s servings it is now becoming quite ludicrous that these 3 government employees are still refusing to be served and doing absolutely nothing to facilitate that, which is our constitutional right,” Washington State Tea Room Founder, Brianna Mattes told the Gateway Pundit.

“I hope further publicity will grease that wheel so that we can complete this phase of the process and move on to the phases to come.  But that being said, we will not blink first on this. They will be served their documents, as it is the right of the people of WA to do so, or they will be shown refusing repeatedly, which comes with consequences. Because as elected officials they do not have the right to do that,” Mattes continued.

Read their news release below:

March 24th, 2022 Brianna Mattes and Washington State Tea Room Process Servers arrived in Olympia, Washington to serve Jay Inslee, Denny Heck, and Bob Fergusons offices with the 2nd round of affidavits; the Notices of Dishonor. The 2nd round of affidavits came after Washington State leadership failed to respond to the Notices of Claim served on March 4th, 2022.

The Washington State Tea Room had set up an appointment with Governor Jay Inslee’s office for service. When the Process Servers arrived the Washington State Patrol was present to greet them and helped with the delivery of the boxes of affidavits to the Governor’s office. Lt. Governor Denny Heck’s office and Attorney General Bob Ferguson’s office also accepted service the same day.

The office for Speaker of the House, Laurie Jinkins, continues to refuse service while making statements that Speaker Jinkins is only concerned with the constituents within her district.

The assistant at Governor Inslee’s office apologized for how the first attempt at serving transpired and was shocked that the Speaker of the House’s assistant was refusing service as that “is their job”. She was also shocked and dismayed that the Speaker is only concerned with the people in her district and not the entirety of Washington State.

Senator Patty Murray’s office continues to not respond to phone calls or emails while Senator Maria Cantwell’s office in the Seattle Federal Building says the documents can be dropped off but the documents will not be signed for and legal service can not be accepted.

CJTV Media live-streamed the whole event. Bard’s Eye News posted the video on Rumble.

By Wayne Allyn Root

Before I get to the ten-thousand-pound elephant in the room, the status of President Donald J. Trump, I first want to deal with the disastrous problem we face. Namely, the purposeful destruction of America.

Things are pretty scary in America right now. We are being relentlessly attacked from within, from a thousand directions at once. I believe America and American exceptionalism are hanging by a thread.

There is no greater Exhibit A for the destruction of America than Ketanji Brown Jackson, Biden’s Supreme Court nominee.

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Jackson has been exposed as soft on pedophilia and child porn (not once, but in ten separate cases, she always chose the least severe punishment possible); she is soft on Islamic terrorism (she represented terrorists at Guantanamo pro bono- free of charge); she is pro Critical Race Theory, which paints both America and white people as toxic and evil; and she is completely unqualified (based on so many of her rulings being overturned by higher courts).

To top it off, Jackson couldn’t, or wouldn’t define what a woman is. Oh boy. Supreme Court? I wouldn’t let this woman near my children.

But why should this surprise anyone? Jackson was chosen only based on the color of her skin. To pick someone based only on being black and female is disgraceful, blatantly racist, insulting and disrespectful to every qualified American of any other race or gender. Yet it appears Jackson will be confirmed for the highest court in the land.

I repeat for emphasis: America and American exceptionalism are hanging by a thread.

But I have fantastic news for anyone who loves this country, wants to fight back, and make America great again. There is hope on the horizon. The cavalry is on the way.

That’s of course assuming we can survive this massive communist assault upon America for three more years. And that’s a big question.

But it’s now clear President Donald J. Trump is back to lead the battle, bigger and bolder than ever before.

I say that not only as a political commentator that religiously studies polls, but as a witness who just spent a week up-close -and-personal with President Trump at Mar-a-Lago.

First, the polls. The most credible poll out there is the RealClearPolitics “poll of polls” (meaning the average of many credible polls). This poll of polls shows Trump is now the most popular politician in America. And it’s not even close. That’s after the media spent billions of gallons of ink labeling Trump as racist and dangerous.

Another poll from Emerson College shows Trump just hit 59 percent approval, again much higher than Biden (or any other national politician).

Finally, in a new poll conducted by The Republican National Campaign Committee, in 77 battleground Congressional districts, Biden sits 15 points underwater. 45% of voters strongly disapprove of the job Biden is doing, while only 17% strongly approve.

Rumor has it those 17% who strongly approve of Biden reside primarily in mental institutions, prisons and rehab centers.

Now to my personal testimony.

My wife Cindy and I just returned from our honeymoon at Mar-a-Lago, Donald Trump’s magical estate and private club in Palm Beach, Florida. This amazing trophy property may be the most valuable residential property in America.

I saw President Trump each night for dinner. I spent up- close-and-personal time with the man. And I can tell you several things that should scare the heck out of liberals…

*Trump looked healthy, strong and confident.

*Trump was carefree- he was actually spinning records like a DJ during dinner. He has eclectic taste ranging from opera, to rock, to rap, to pop tunes. I have no doubt he could make millions
per night as “DJ PREZ” at Las Vegas nightclubs!

I also watched as Trump, the former leader of the free world, personally gave out the awards to the winners of the men’s, ladies and seniors golf tournaments at his Trump International
Golf Club. How’s that for carefree?

By the way, the senior tournament winner was…Donald J. Trump! The ladies winner was Trump’s granddaughter. I think you call that…#WINNING!

I also witnessed a phenomenon- many famous GOP politicians were at Mar-a-Lago every night while I was there, hat in hand, lobbying for Trump’s support. Including RINO Republican politicians who act like they don’t care about Trump when talking to the media.

These same big shot GOP politicians deny Trump is the leader of the Republican Party. They deny his influence and popularity. Yet there they were, at Trump’s home, begging for his attention and support. So much for that lie.

Trump is the GOP.

Trump is very much back in the game. He’s got his mojo back. He’s looked very much like President #45 and #47.

I have no doubt Trump is the winner in 2024. But that’s only if we make it to 2024.

As I said to President Trump, “I love and appreciate you. I know you were the winner of the rigged 2020 election. After the disaster of Biden, I believe you’ll win the 2024 election by a large margin. But the real question is, can America survive another three years?”

That’s the most important question in the history of America.

Wayne Allyn Root is known as “the Conservative Warrior.” Wayne’s latest book, “The Great Patriot Protest & Boycott Book” is a #1 bestseller. Wayne is host of the nationally- syndicated “Wayne Allyn Root: Raw & Unfiltered” on USA Radio Network, daily from 6 PM to 9 PM EST and the “WAR RAW” podcast. Visit ROOTforAmerica.com, or listen live at USAradio.com, or “on demand” 24/7 at iHeartRadio.com, or on the Audacy app.