Horse Racing Forum - PaceAdvantage.Com - Horse Racing Message Board

Go Back   Horse Racing Forum - PaceAdvantage.Com - Horse Racing Message Board > Off Topic > Off Topic - General


Reply
 
Thread Tools Rate Thread
Old 03-10-2023, 02:30 PM   #1
PaceAdvantage
PA Steward
 
PaceAdvantage's Avatar
 
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 87,841
Oh look...banks are starting to fail...let's go BRANDON

mostpost is gonna tell you everything is GREAT!

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

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

SVBís branch offices will also reopen at that time, under the control of the regulator.

The FDICís standard insurance covers up to $250,000 per depositor, per bank, for each account ownership category.
__________________
@paceadvantage | Support the site and become a today!
PaceAdvantage is online now   Reply With Quote Reply
Old 03-10-2023, 03:45 PM   #2
Light
Veteran
 
Light's Avatar
 
Join Date: Dec 2003
Posts: 7,139
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.
Light is offline   Reply With Quote Reply
Old 03-10-2023, 03:51 PM   #3
TJDave
Registered User
 
Join Date: Aug 2009
Posts: 10,927
Letís go who?


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

During Trumpís first two years there were 12. BidenÖ1
At the end of Trumpís term there were 16 failures.

The GOAT was right. Trumps best work was in destroying things. ;-)
__________________
All I needed in life I learned from Gary Larson.
TJDave is offline   Reply With Quote Reply
Old 03-10-2023, 03:52 PM   #4
PaceAdvantage
PA Steward
 
PaceAdvantage's Avatar
 
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 87,841
Enjoy the biggest bank failure since 2008 -- in 4K UHD

You remember that year, don't you?

Tell me about Trump again
__________________
@paceadvantage | Support the site and become a today!
PaceAdvantage is online now   Reply With Quote Reply
Old 03-10-2023, 04:17 PM   #5
Light
Veteran
 
Light's Avatar
 
Join Date: Dec 2003
Posts: 7,139
The failure of SVB was due to high interest rates from the Fed.
Light is offline   Reply With Quote Reply
Old 03-10-2023, 04:24 PM   #6
TJDave
Registered User
 
Join Date: Aug 2009
Posts: 10,927
So you think this was Bidenís fault?

Or failures during Trumpís 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.
__________________
All I needed in life I learned from Gary Larson.
TJDave is offline   Reply With Quote Reply
Old 03-10-2023, 04:46 PM   #7
PaceAdvantage
PA Steward
 
PaceAdvantage's Avatar
 
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 87,841
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 | Support the site and become a today!
PaceAdvantage is online now   Reply With Quote Reply
Old 03-10-2023, 04:52 PM   #8
PaceAdvantage
PA Steward
 
PaceAdvantage's Avatar
 
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 87,841
It's amazing how quickly Light and TJ jump into the thread to provide cover for Joe...

GET DOWN MR. PRESIDENT!

__________________
@paceadvantage | Support the site and become a today!
PaceAdvantage is online now   Reply With Quote Reply
Old 03-10-2023, 05:05 PM   #9
myohmyjustify
Registered User
 
Join Date: May 2020
Location: New Jersey
Posts: 1,071
Quote:
Originally Posted by Light View Post
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.
myohmyjustify is offline   Reply With Quote Reply
Old 03-10-2023, 05:05 PM   #10
PaceAdvantage
PA Steward
 
PaceAdvantage's Avatar
 
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 87,841
Quote:
Originally Posted by TJDave View Post
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

Quote:
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...
__________________
@paceadvantage | Support the site and become a today!

Last edited by PaceAdvantage; 03-10-2023 at 05:07 PM.
PaceAdvantage is online now   Reply With Quote Reply
Old 03-10-2023, 05:15 PM   #11
myohmyjustify
Registered User
 
Join Date: May 2020
Location: New Jersey
Posts: 1,071
Quote:
Originally Posted by Light View Post
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.
myohmyjustify is offline   Reply With Quote Reply
Old 03-10-2023, 05:16 PM   #12
Tom
The Voice of Reason!
 
Tom's Avatar
 
Join Date: Mar 2001
Location: Canandaigua, New york
Posts: 112,155
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???

__________________
Who does the Racing Form Detective like in this one?

Last edited by Tom; 03-10-2023 at 05:18 PM.
Tom is offline   Reply With Quote Reply
Old 03-10-2023, 05:41 PM   #13
TJDave
Registered User
 
Join Date: Aug 2009
Posts: 10,927
Quote:
Originally Posted by PaceAdvantage View Post
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 donít give a **** about Joe.
__________________
All I needed in life I learned from Gary Larson.
TJDave is offline   Reply With Quote Reply
Old 03-10-2023, 05:47 PM   #14
PaceAdvantage
PA Steward
 
PaceAdvantage's Avatar
 
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 87,841
Quote:
Originally Posted by TJDave View Post
Cover for Joe?

I donít 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.
__________________
@paceadvantage | Support the site and become a today!
PaceAdvantage is online now   Reply With Quote Reply
Old 03-10-2023, 07:16 PM   #15
Light
Veteran
 
Light's Avatar
 
Join Date: Dec 2003
Posts: 7,139
Quote:
Originally Posted by myohmyjustify View Post
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.

Quote:
Originally Posted by myohmyjustify View Post
The Fed is not sticking it to Biden.
I never said they were.

Quote:
Originally Posted by myohmyjustify View Post
Nor putting the screws to this idiot nor the market.
Guess again.

Quote:
Originally Posted by myohmyjustify View Post
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.

Quote:
Originally Posted by myohmyjustify View Post
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.
Light is offline   Reply With Quote Reply
Reply




Thread Tools
Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

» Advertisement
» Current Polls
How do you primarily find bettable horses?
Make a formal odds line - 21.70%
23 Votes
Rank the horses in order of preference & compare it to the odds - 21.70%
23 Votes
Feel - 12.26%
13 Votes
Only play against short priced horses I dislike - 5.66%
6 Votes
Look for value oriented trips, angles, situations - 33.02%
35 Votes
Other (describe) - 5.66%
6 Votes
Total Votes: 106
This poll is closed.
Powered by vBadvanced CMPS v3.2.3

All times are GMT -4. The time now is 10:45 PM.


Powered by vBulletin® Version 3.8.9
Copyright ©2000 - 2024, vBulletin Solutions, Inc.
Copyright 1999 - 2023 -- PaceAdvantage.Com -- All Rights Reserved
We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program
designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.