Economic Collapse?

9074 Views 271 Replies 69 Participants Last post by 1911_Kid, 22 d ago

cavelamb

Discussion Starter · 3 mo ago

It's happening...

The FDIC is racing to find another bank over the weekend that is willing to merge with Silicon Valley Bank, according to people familiar with the matter who requested anonymity because the details are confidential. While the FDIC hopes to put together such a merger by Monday to safeguard unsecured deposits, no deal is certain, the sources added.

U.S. banks have lost over $100 billion in stock market value over the past two days, with European banks losing around another $50 billion in value, according to a Reuters calculation.

"There could be a bloodbath next week as...short sellers are out there and they are going to attack every single bank, especially the smaller ones," said Christopher Whalen, chairman of Whalen Global Advisors.

(and for the really scary part...)

U.S. Treasury Secretary Janet Yellen met banking regulators on Friday and expressed "full confidence" in their abilities to respond to the situation, Treasury said.

The White House said on Friday it had faith and confidence in U.S. financial regulators, when asked about the failure of SVB.

Reactions: 5

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Crab Boy

· #2 · 3 mo ago

I saw this in a local paper headline. But I think they (Government)are trying to play it down big time. The communist economic plan is working.

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yeti

· #3 · 3 mo ago

There will definitely be market adjustments next week. Not thinking it will be really ugly...yet. We'll see.
We (US economy) have some tough times ahead. Especially since our economy is guided by folks that ignore fundamentals for political gain.

Glad that Janet Yellen has confidence in in their abilities. I don't have confidence in her.
She and her team of bureaucrats have been late to the party, caught off guard and flat footed numerous times now.

The White House? Nothing to see here folks, move along.

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Bogeyman

· #4 · 3 mo ago

The article I read indicated that one of the banks that collapsed is a cyber/crypto funds bank, and the Silicon Valley bank is almost exclusive to tech. industry investment. Two of the biggest progressive liberal endeavors right now that are far outreaching their true capacities.
It doesn't mean the overall banking industry is going under. As much chaos as there is right now, China's Yuan, and Russia's Ruble will never be the "global standard" currency. And what. they're going to adopt the economic formate of the Middle-East?

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cavelamb

Discussion Starter · #5 · 3 mo ago

We'll see - Monday morning.

What will the FDIC come up with?

And what will the stock market do?

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DaveO430

· #6 · 3 mo ago

"full faith & confidence" means we are peeing our pants but you don't need to know that.

Reactions: 5

Bullet Bob

· #7 · 3 mo ago

The sky is falling, the sky is falling!

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Boge

· #8 · 3 mo ago

cavelamb said:
We'll see - Monday morning.

What will the FDIC come up with?...

Diversity of course!!

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DavT

· #9 · 3 mo ago

Bullet Bob said:
The sky is falling, the sky is falling!

Yep, it reaches all the way to the ground. Not like in the good old days where it was a 100 feet up in the air at least.

Reactions: 5

Old Grumpy

· #10 · 3 mo ago

Brandon has a plan. Cookies before nap time and bed, a dry depends before big meetings, and more cookies. The economy has been in the toilet for 2 1/2 years. Brandon's handlers have no idea how to get out of the downward spin. Not that they are in any big hurry, the more people that must depend on welfare to put food on the table means more votes for democrats.

Grumpy

Reactions: 5

tdyoung58

· #11 · 3 mo ago

Wokeness is failing. This won't be the only bank to fail. All of them are only open because of overextended borrowing by consumers in loans and credit card debt. All due to Pedo Joe and his skyrocketing inflation.
How fast and far it will fall is yet to be seen.
Thankfully we're prepared and pretty self sustaining / sufficient. Y'all best be stocking up on beans and rice

Reactions: 5

NonHyphenAmerican

· #12 · 3 mo ago

cavelamb said:
We'll see - Monday morning.

What will the FDIC come up with?

And what will the stock market do?

Historically, it's been Tuesdays, so.........

I'd be REALLY careful come Tuesday.

Reactions: 4

azguy1911

· #13 · 3 mo ago

I'm an economist and market strategist. What happened to SV Bank is isolated and due to incompetence and nothing more. They had lots of bonds on their books as they should had but didn't shorten duration or hedge out interest rate risk and the bonds were worth 15% less due to the aggressive Fed.

Calm down

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Boge

· #14 · 3 mo ago

Unfortunately, the whole system will have to "burn down" before we can start righting the wrongs. I hope I live to see it. The REAL reset!!

Reactions: 3

kenenz

· #15 · 3 mo ago

World Tie Building Gesture Sky

See less See more

Reactions: 4

Michael W Cuber

· #16 · 3 mo ago

Been hearing about the Big Economy Collapse since I was a kid—I’m 55 now, and the only thing that keeps happening is my dollar buys less every year!

Reactions: 5

SteedGun

· #17 · 3 mo ago

DaveO430 said:
"full faith & confidence" means we are peeing our pants but you don't need to know that.

OK. That was good. Now, I have Diet Coke all over my keyboard.

Reactions: 5

japsco113

· #18 · 3 mo ago

tdyoung58 said:
Wokeness is failing. This won't be the only bank to fail. All of them are only open because of overextended borrowing by consumers in loans and credit card debt. All due to Pedo Joe and his skyrocketing inflation.
How fast and far it will fall is yet to be seen.
Thankfully we're prepared and pretty self sustaining / sufficient. Y'all best be stocking up on beans and rice

Corn meal and coffee and ammo.

Reactions: 2

USMM guy

· #19 · 3 mo ago

Well I noticed that they had tanks pulled up and were setting up machine gun nests around the Federal reserve bank here in Floyd today. ☹

Reactions: 1

Crab Boy

· #20 · 3 mo ago

USMM guy said:
Well I noticed that they had tanks pulled up and were setting up machine gun nests around the Federal reserve bank here in Floyd today. ☹

Why, nothing in there worth anything.

Reactions: 5

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