The dam is springing leaks and there are several private credit holes that could bring the whole thing crashing down. From Quoth the Raven at theburningplatform.com:
As I wrote just weeks ago, I believed (and still do) that any new market collapse could come at the hands of crypto and/or stablecoins, which have in many ways become an essentially unregulated $4 trillion slush-y money market fund reminiscent of 2008.
But watching the headlines coming out of commercial real estate, private credit and subprime auto over the last week or two — and I’m not certain we don’t have a new leader, or leaders, in the nationally televised Race To The Financial Dung Heap™.
Let’s try to make this case as clear and as simple as possible, with examples and charts for people with very short attention spans, like myself.
First, commercial real estate. When the pandemic hit, it didn’t just empty restaurants and stadiums—it hollowed out the very premise of office real estate.
Remote work turned once-bulletproof towers into stranded assets almost overnight, leaving landlords with vacant floors, plunging rents, and billions in debt that no longer penciled out. We still haven’t recovered.
By mid-2025, the U.S. office vacancy rate had climbed to a record 20.7%, according to Moody’s Analytics.¹
Shitcoin CBDC is in the waiting?
There should be a star of Remphan on the $1 Trump coin and here I used the rare Sacajaweia coin for gas, it made the teevee locally.
Anything subjective is worth what someone will give you for it.