Are we on the verge of another Financial Disaster?

[smahala1991]

I've berrn thinking about it ever since the collapse of Silicon Valley Bank, and the recent bailout of First Republic Bank.

Updates

+1 y

Been* Damn fast typing

[Pudsmucker]

Banks comes and goes. My uncle was a bank examiner for the US government. When he came into your hometown he'd shut the doors of your favorite Bank and when it reopens after the weekend the bank has a new name. They do that type of work often especially when the bank's overextend themselves or poor bookkeeping habits. The banks cannot afford to fault. According economist that I know said that our financial institution is sound. News media needs to stop spread paranoia. The news is always wanting some top story. Especially those that are looking for the Pulitzer.

[AngryCarl2]

If your uncle worked for the US government he wouldn't have been allowed to tell you that all banks are insolvent. It's called fractional reserve banking because the bank's reserves are only a fraction of its liabilities.

[Pudsmucker]

@AngryCarl2 years ago I saw my uncle in the small town that I lived in he was auditing the bank in that town on Monday and on the following Monday it had a new name. When you see family members and you know what they do for the government. You can put two and two together when the Bank closed on Monday and it reopened on Monday with a new name and you saw your family member there you put two and two together. It doesn't take rocket scientists to figure some of this stuff out especially if you knew what your family was doing.

[NamerOfStars]

Verge? No- it's already started. The wave's crested, and it's about to fall. How long that'll take, and just how crippling it'll be, are not yet apparent- but there's not really much any of us can do to change things. Stockpiling long-lasting batteries and starting to plant as much of your own food as your situation allows is a REALLY good idea, however.

[Heterosketero]

Renationalization is going to seek a disaster no matter how well a transition it ends up being. Offshoring was easy, when times were easy, reshoring in hard times, not so much, but worth it, even if just for the environment. I would term it eco nationaism. 100 mile diet and all... There is going to he a lot of broken eggs in this cake, but thats better than bugs.

[exitseven]

We have been lurching from one disaster to the next for the last two years. Just when you think it could not possibly get any worse, Biden figures out a way to do it. It didn't take a genius to see that causing inflation which always causes interest rates to rise was not going to have an adverse effect on the economy. We are about to be thrown into a depression.

[OddBeMe]

Doubtful. A recession looks on new horizon or already here. My stock portfolio has taken a beating. But the trick is to know where the value is and hold onto it, because it will rise again. You know like the south. Jk.

I do like that other banks bailed out their own this time. That’s a huuuge precedent.

[Avicenna]

Possibly. There is a lot of financial stress right now and due to higher interest rates, US Treasurys are vulnerable if there is a further inflation shock.

[AngryCarl2]

A financial disaster for you would mean losing your house. If you mean a global financial collapse that's never happened and the central banks will do everything within their considerable powers to make sure it never does.

[Jamie05rhs]

Yes. And I'm looking forward to it. I can't wait for the housing crash. This has been a long time coming, and the market correction is badly needed.

[NostalgiaSenpi]

We're currently dealing with inflation that hasn't stopped. My grocery keeps going up and I haven't changed anything, really.

[msc545]

Wait.. you mean... I am at risk of losing my $ 5.00 ?

[smahala1991]

Not really, that's insured by the FDIC

[msc545]

oh, thank God!

[jamesgoldman]

Have been ever since COVID

[doctorwhofan23]

I think a storm is coming.