Oh look...banks are starting to fail...let's go BRANDON

[PaceAdvantage]

mostpost is gonna tell you everything is GREAT!

https://www.cnbc.com/2023/03/10/sili...-deposits.html

The FDIC said in the announcement that insured depositors will have access to their deposits no later than Monday morning.

SVB’s branch offices will also reopen at that time, under the control of the regulator.

The FDIC’s standard insurance covers up to $250,000 per depositor, per bank, for each account ownership category.

[Light]

I know you know it has to do with the fed putting the screws on the economy and stock market. But like Tucker, you like to mislead.

The only fault with Biden is that he has the economy running too strong for the feds liking and you know that too.

[TJDave]

Let’s go who?


Fun fact: banks fail on average of a couple per year regardless who is President.

During Trump’s first two years there were 12. Biden…1
At the end of Trump’s term there were 16 failures.

The GOAT was right. Trumps best work was in destroying things. ;-)

[PaceAdvantage]

Enjoy the biggest bank failure since 2008 -- in 4K UHD

You remember that year, don't you?

Tell me about Trump again

[Light]

The failure of SVB was due to high interest rates from the Fed.

[TJDave]

So you think this was Biden’s fault?

Or failures during Trump’s term were his fault?

Puleeeze.

Probably poor management/overextension of credit/badly underwritten loans.

I lost quite a few shekels in the Penn Square Bank fiasco. Ronald Reagan was not to blame.

[PaceAdvantage]

I never blamed Biden for this bank failure.

You just did.

Or, at least you're trying to cover his ass for some reason, which I'm trying to figure out.

I'm just commenting on the current state of our economic system, which mostpost keeps telling me is fine...actually, much better then fine.

[PaceAdvantage]

It's amazing how quickly Light and TJ jump into the thread to provide cover for Joe...

GET DOWN MR. PRESIDENT!

[myohmyjustify]

Originally Posted by Light

I know you know it has to do with the fed putting the screws on the economy and stock market. But like Tucker, you like to mislead.

The only fault with Biden is that he has the economy running too strong for the feds liking and you know that too.

You are very "light" on finance and economics, not to mention politics, which I won't.

The Fed is not sticking it to Biden. Nor putting the screws to this idiot nor the market.

The Fed is raising rates because the US debt and deficit is exploding, thanks primarily to the Biden Administration, along with a complicit, corrupt and stupid Senate GOP passing these omnibus spending bills, while never cutting a single dime in any program.
Couple this with no true growth in employment under Biden.

And when you have out-of-control government spending, no jobs growth, a federal budget out of whack, plus high oil and transportation costs, you get rampant inflation, which we have. Thank Biden for this, plus Congress.

I repeat: there is no strong Biden economy. I repeat: there is ZERO job growth. Again, thanks to Biden.

[PaceAdvantage]

Originally Posted by TJDave

Let’s go who?


Fun fact: banks fail on average of a couple per year regardless who is President.

During Trump’s first two years there were 12. Biden…1
At the end of Trump’s term there were 16 failures.

The GOAT was right. Trumps best work was in destroying things. ;-)

Second BIGGEST bank collapse in US HISTORY and you're writing it off as some sort of everyday occurrence....

https://www.cnbc.com/2023/03/10/sili...-happened.html

Here’s how the second biggest bank collapse in U.S. history happened in just 48 hours
KEY POINTS
The company’s downward spiral began late Wednesday, when it surprised investors with news that it needed to raise $2.25 billion to shore up its balance sheet.

“This was a hysteria-induced bank run caused by VCs,” Ryan Falvey, a fintech investor of Restive Ventures, told CNBC.

Now, those who remained with SVB face an uncertain timeline for retrieving their money.

Don't worry, nothing to see here...happens all the time...pffffttttt...

[myohmyjustify]

Originally Posted by Light

The failure of SVB was due to high interest rates from the Fed.

Higher interest rates hurt, no doubt, but the failure of SVB was due to too much financing of high tech startups at outrageous multiples despite little visibility to profits. SVB mostly failed also by being the bank for the crypto currency frauds, and also having savvy hedge fund investor Peter Thiel advising his partners to withdraw their monies from SVB before the crap hit the fan.

[Tom]

FED had to impose high interest due to Biden WASTING TRILLIONS OF $$$ spending like a drunken sailkor.

Absolute irresponsible spending.

We've heard excuses from TJ and Light so far, where is mostie???

YouTube

[TJDave]

Originally Posted by PaceAdvantage

It's amazing how quickly Light and TJ jump into the thread to provide cover for Joe...

GET DOWN MR. PRESIDENT!

Cover for Joe?

I don’t give a **** about Joe.

[PaceAdvantage]

Originally Posted by TJDave

Cover for Joe?

I don’t give a **** about Joe.

Really? Then why jump in and try and make this out to be a semi-normal occurrence?

When in fact this is the largest bank failure since the 2008 "financial crisis."

Seems like somebody is trying to downplay this for whatever reason.

[Light]

Originally Posted by myohmyjustify

You are very "light" on finance and economics, not to mention politics, which I won't.

I follow the market and finance everyday. Obviously you don't.

Originally Posted by myohmyjustify

The Fed is not sticking it to Biden.

I never said they were.

Originally Posted by myohmyjustify

Nor putting the screws to this idiot nor the market.

Guess again.

Originally Posted by myohmyjustify

The Fed is raising rates because the US debt and deficit is exploding, thanks primarily to the Biden Administration, along with a complicit, corrupt and stupid Senate GOP passing these omnibus spending bills, while never cutting a single dime in any program.
Couple this with no true growth in employment under Biden.

If you even listened one minute to Powell, you would know he's all about bringing down inflation. Not your political drivel.

Originally Posted by myohmyjustify

And when you have out-of-control government spending, no jobs growth, a federal budget out of whack, plus high oil and transportation costs, you get rampant inflation, which we have. Thank Biden for this, plus Congress.

Again listen to what Powell says and you will see he is saying the economy needs to weaken and stop being strong and for the labor market to weaken in order for the fed to stop increasing interest rates.

Biden can be credited with keeping the economy strong and having the lowest unemployment rate in 50 years.

That being said, if you follow the market and finance you would know that's not good for the stock market cause it makes the fed raise interest rates to control inflation which makes the market suffer.