unfortunately, I can only like this once. This is 100% spot on.Even if inflation has dropped 2.5%, it's still unacceptably high. It was 1.8% when Biden swore in. 9.8% was the high figure a year ago. Thus a 2.5% drop puts it at 7.3%, which is still at least 5% too high. Printing more money and deficit spending were the primary causes of Joe Biden's inflationary fiscal policies. The Fed had to step in to put the brakes on inflation.
Biden himself has had nothing to do with the drop. The Federal Reserve has been raising interest rates to reverse inflation. But raising interest rates makes mortgages more expensive for home buyers. Raising interest rates stifles business investment because loans are more expensive.
Joe Biden's spending on feel-good energy investments that produce extremely low yields, and his spending on social programs that have done nothing to help the needy but have increased violent crime are also causes of our current inflation. Joe Biden's DAs and Judges have further exacerbated the problems. Criminals who are not arrested, not prosecuted, not incarcerated, and thus free to commit more crimes are driving taxpayers who are fear for their lives out of the big cities which further reduces the tax base in those cities and thus accelerates their demise.
Joe Biden is an idiot who has never balanced a budget in his life. He thinks that money is magic. He thinks that the Government can just continue to print money, flood the markets, and distribute it to those he deems deserving of reparations won't have consequences. We're seeing the consequences right now: inflation, wasteful spending, diminished military capabilities, weak borders, and increased violent crime. Way to go Joe.
Economic Collapse?
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.
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.
221 - 240 of 272 Posts
unfortunately, I can only like this once. This is 100% spot on.
One aspect of inflation that many fail to comprehend is "shrinkflation".
Remember when coffee came in 1 lb and 3 lb cans? Check them now.
Green Beans, Peas, Corn in 16 ounce cans? Try 12.5 to 13 now.
A half gallon of ice cream is now 25% smaller on average.
And I'll give you a real life example of how people don't or can't comprehend basic math when it comes to inflation and shrinkflation.
I'm not a Cracker Barrel fan, so we like going into a local cafe instead.
We're regulars, but our regular waitress is out having surgery.
I ordered breakfast and told the new waitress I wanted a breakfast plate with bacon, eggs over medium, half an order of hash browns and no toast.
Being Diabetic, I have to watch the carbs and this is my "Regular" there.
She proceeds to tell me she'll have to charge me extra.
One of us wanted a two egg rather than a three egg omelette.
Again, she comments that it'll be an extra charge.
I simply replied to her that when she got done taking our orders, to send the owner over I needed to talk to her.
Owner comes by and is visiting with us. I comment about the extra charge for asking for no toast and half the hash browns.
She shakes her head, tells me not to worry about it, she'll take care of it.
She commented that she doesn't mind us ordering the way we do, especially since we don't ask for a discount.
We all commented that we all know how it goes and that it's worth it for us to get what we want at a place we like to patronize.
The Waitress just didn't get that in the one order, the cost of eggs for the omelette was reduced 1/3rd and in the case of my plate, half the hash browns and no toast meant a slightly higher profit as well.
So if anyone thinks that inflation is dropping, just look at the fact that you're often paying more money for less product.
Three years ago, breakfast in that place, including coffee was $11.15 including tax. Now it's $16.42 including tax for the same breakfast plate.
That's a 32% increase.
Remember when coffee came in 1 lb and 3 lb cans? Check them now.
Green Beans, Peas, Corn in 16 ounce cans? Try 12.5 to 13 now.
A half gallon of ice cream is now 25% smaller on average.
And I'll give you a real life example of how people don't or can't comprehend basic math when it comes to inflation and shrinkflation.
I'm not a Cracker Barrel fan, so we like going into a local cafe instead.
We're regulars, but our regular waitress is out having surgery.
I ordered breakfast and told the new waitress I wanted a breakfast plate with bacon, eggs over medium, half an order of hash browns and no toast.
Being Diabetic, I have to watch the carbs and this is my "Regular" there.
She proceeds to tell me she'll have to charge me extra.
One of us wanted a two egg rather than a three egg omelette.
Again, she comments that it'll be an extra charge.
I simply replied to her that when she got done taking our orders, to send the owner over I needed to talk to her.
Owner comes by and is visiting with us. I comment about the extra charge for asking for no toast and half the hash browns.
She shakes her head, tells me not to worry about it, she'll take care of it.
She commented that she doesn't mind us ordering the way we do, especially since we don't ask for a discount.
We all commented that we all know how it goes and that it's worth it for us to get what we want at a place we like to patronize.
The Waitress just didn't get that in the one order, the cost of eggs for the omelette was reduced 1/3rd and in the case of my plate, half the hash browns and no toast meant a slightly higher profit as well.
So if anyone thinks that inflation is dropping, just look at the fact that you're often paying more money for less product.
Three years ago, breakfast in that place, including coffee was $11.15 including tax. Now it's $16.42 including tax for the same breakfast plate.
That's a 32% increase.
Yup. And the act of "shrinkflation" is not indigenous to inflation. Companies did it all the time outside of a troubled economy. For example, when things were good, Chipotle did what I call the suicide squeeze (a.k.a burnt the candle at both ends), where they lessened portions and rose prices. It used to be you could get 4 tacos for n-dollars (can't remember the exact price) but they restructured it to 3 tacos and charged more for it.One aspect of inflation that many fail to comprehend is "shrinkflation".
Remember when coffee came in 1 lb and 3 lb cans? Check them now.
Green Beans, Peas, Corn in 16 ounce cans? Try 12.5 to 13 now.
A half gallon of ice cream is now 25% smaller on average.
And I'll give you a real life example of how people don't or can't comprehend basic math when it comes to inflation and shrinkflation.
I'm not a Cracker Barrel fan, so we like going into a local cafe instead.
We're regulars, but our regular waitress is out having surgery.
I ordered breakfast and told the new waitress I wanted a breakfast plate with bacon, eggs over medium, half an order of hash browns and no toast.
Being Diabetic, I have to watch the carbs and this is my "Regular" there.
She proceeds to tell me she'll have to charge me extra.
One of us wanted a two egg rather than a three egg omelette.
Again, she comments that it'll be an extra charge.
I simply replied to her that when she got done taking our orders, to send the owner over I needed to talk to her.
Owner comes by and is visiting with us. I comment about the extra charge for asking for no toast and half the hash browns.
She shakes her head, tells me not to worry about it, she'll take care of it.
She commented that she doesn't mind us ordering the way we do, especially since we don't ask for a discount.
We all commented that we all know how it goes and that it's worth it for us to get what we want at a place we like to patronize.
The Waitress just didn't get that in the one order, the cost of eggs for the omelette was reduced 1/3rd and in the case of my plate, half the hash browns and no toast meant a slightly higher profit as well.
So if anyone thinks that inflation is dropping, just look at the fact that you're often paying more money for less product.
Three years ago, breakfast in that place, including coffee was $11.15 including tax. Now it's $16.42 including tax for the same breakfast plate.
That's a 32% increase.
Caveat Emptor
You might want to reconsider US Treasuries.Expect rates to stop going up as people flee stocks for us treasuries. All this will be happening very soon. Once rates drop and the fed starts cutting to stem the loses in the stock market, that is when rates will explode higher. Gold will make a new high. All other asset classes will be victim to deflation.
That's part of what bought on the current banking flops.
Just one article of many...
Analysis: SVB collapse unleashes Treasury volatility, whiplashing investors
True, the shrinking of packaged goods didn't start with this current bout of inflation.Yup. And the act of "shrinkflation" is not indigenous to inflation. Companies did it all the time outside of a troubled economy. For example, when things were good, Chipotle did what I call the suicide squeeze (a.k.a burnt the candle at both ends), where they lessened portions and rose prices. It used to be you could get 4 tacos for n-dollars (can't remember the exact price) but they restructured it to 3 tacos and charged more for it.
Caveat Emptor
But, it makes it worse when, because of reduced sizes, you have to buy two instead of one, and the price of each has gone up!
Check the box size of most crackers, smaller, every one. Thank you “ bite me”.
That's also what caused things to collapse back in the early 80's.You might want to reconsider US Treasuries.
That's part of what bought on the current banking flops.
Just one article of many...
Analysis: SVB collapse unleashes Treasury volatility, whiplashing investors
Those of us who lived through those years, remember those years well.
I was there when Reaganomics took over and knocked the crap out of the job market, it was not a recession it was a depression. I watched as all the fake foundation for the computer industry fell through in the late 90s. There has never been a correction. I've been telling my wife for many years get ready. Finally talked her into getting our money out of the bank this week. I'm looking at buying a piece of land quickly, I'm going to pay cash. It's the only place I can store my money that will retain some sort of value. I have been putting Food Supplies, weapons, ammo, tractors, implements, Etc, away since I came back from Vietnam in the 1970s (I did deep insertion deep interrogation reconnaissance, I saw what our country (the elite) does, how they rape pillage and plunder. One thing I know for certain if it doesn't fold today it will fold certainly within the next year or two. Perhaps that will give some of you who are the naysayers time to get ready. It won't be supply and demand, it will be the value of the dollar being so low you can't afford a loaf of bread, take a look at Venezuela. This is a deliberate coup done by the elite, both parties. I saw a blithering idiot in here blaming Donald Trump for this Bank catastrophe. It has nothing to do with Donald Trump and everything to do with the elite globalists. Epilogue ... You better get them beans and rice.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.
My economy collapsed several years ago, actually I think I was born with a collapsed economy. As my uncle would say, I started out with nothing, and I still have most of it. A good friend would say, I have most of my money tied up in cash. OK, we're being serious here I guess so I'll add my 2 bits worth. Until we have term limits nothing is going to change in Washington, nothing. And it's very unlikely that we will ever have term limits. After all, it's the very people that we want to limit their terms, that will have to pass term limits! We do get to choose who lies to use every 4 years. At least with Trump it was exhilarating, Biden is just boring!!!!!!
I think everyone needs to define the terms. A 'drop' in the increase of inflation does not mean inflation has dropped to where it was before, it merely means it has taken two steps forward and one back. Or slowed its rate of increase. When the gov't, media, talking heads, etc. say "inflation has dropped 2.5 per cent" they do not mean inflation is AT 2.5 per cent, they mean it is 2.5 per cent less than it was prior - which is still higher than it was a few years ago. And the actual rates may be much worse than described, as again, Core CPI leaves out prime drivers of inflation like fuel and food. I mean, where do people think their goods come from? Most are delivered to retail by trucks that run on diesel.
The current administration's 'build back better' nonsense (i.e. UN Agenda 2030) is no better than the old soviet five year plans. Central planning tends to work poorly, in addition to relying on coercion and violation of people's rights. Look to Venezuela, as some said. Of note, given this is a 1911 forum, is that one of the first things Venezuela did was disarm citizens. It made possible much of everything that followed:
2012 is when the Chavez regime disarmed civilians, ordering them to turn in their guns and ordering all gun stores to close and surrender their inventory to the state.
The plan was not just the creation of socialist strongman Chavez, but was backed by and aided by the United Nations, which helped Chavez disarm his victims:
“The UN, which worked closely with the Venezuelan government in the development of the civilian disarmament program and will participate in some elements of its implementation, also called on the media to support the controversial schemes. Resident UN Coordinator for Venezuela Alfredo Missair praised the anti-gun program and reiterated the global body’s support for it, the Venezuelan National Assembly reported on its website.
“You are also responsible in this important fight — we need the cooperation of not only the United Nations but of the media,” Missair told the press, “so, we are offering all the support they require to do a good job.”
In 2013, under Obama, the United States signed on to a UN 'arms trade' treaty, intended to push such civilian disarmament on the nations that signed, effectively posing a risk that we end up like every other nation that has allowed itself to be disarmed.
Fortunately, the senate never ratified the treaty, and on April 26, 2019, President Donald Trump announced in his speech at an annual nra meeting that the United States will be withdrawing its signature on the treaty. He signed an order to this effect on stage (https://en.wikipedia.org/wiki/Arms_Trade_Treaty).
The current administration's 'build back better' nonsense (i.e. UN Agenda 2030) is no better than the old soviet five year plans. Central planning tends to work poorly, in addition to relying on coercion and violation of people's rights. Look to Venezuela, as some said. Of note, given this is a 1911 forum, is that one of the first things Venezuela did was disarm citizens. It made possible much of everything that followed:
2012 is when the Chavez regime disarmed civilians, ordering them to turn in their guns and ordering all gun stores to close and surrender their inventory to the state.
The plan was not just the creation of socialist strongman Chavez, but was backed by and aided by the United Nations, which helped Chavez disarm his victims:
“The UN, which worked closely with the Venezuelan government in the development of the civilian disarmament program and will participate in some elements of its implementation, also called on the media to support the controversial schemes. Resident UN Coordinator for Venezuela Alfredo Missair praised the anti-gun program and reiterated the global body’s support for it, the Venezuelan National Assembly reported on its website.
“You are also responsible in this important fight — we need the cooperation of not only the United Nations but of the media,” Missair told the press, “so, we are offering all the support they require to do a good job.”
In 2013, under Obama, the United States signed on to a UN 'arms trade' treaty, intended to push such civilian disarmament on the nations that signed, effectively posing a risk that we end up like every other nation that has allowed itself to be disarmed.
Fortunately, the senate never ratified the treaty, and on April 26, 2019, President Donald Trump announced in his speech at an annual nra meeting that the United States will be withdrawing its signature on the treaty. He signed an order to this effect on stage (https://en.wikipedia.org/wiki/Arms_Trade_Treaty).
Well” bite me” says he will sign the treaty.
When Reagan took office, inflation was 16%. Carter had completely screwed the pooch with the economy, as well as everything else. Reagan had to impose austerity measures like wage and price controls to get things back in order. It wasn't technically a Depression. The term is "Stagflation." That means high inflation with high unemployment and a stagnating economy. And things did come around which is one big reason why he was reelected.I was there when Reaganomics took over and knocked the crap out of the job market, it was not a recession it was a depression. I watched as all the fake foundation for the computer industry fell through in the late 90s. There has never been a correction. I've been telling my wife for many years get ready. Finally talked her into getting our money out of the bank this week. I'm looking at buying a piece of land quickly, I'm going to pay cash. It's the only place I can store my money that will retain some sort of value. I have been putting Food Supplies, weapons, ammo, tractors, implements, Etc, away since I came back from Vietnam in the 1970s (I did deep insertion deep interrogation reconnaissance, I saw what our country (the elite) does, how they rape pillage and plunder. One thing I know for certain if it doesn't fold today it will fold certainly within the next year or two. Perhaps that will give some of you who are the naysayers time to get ready. It won't be supply and demand, it will be the value of the dollar being so low you can't afford a loaf of bread, take a look at Venezuela. This is a deliberate coup done by the elite, both parties. I saw a blithering idiot in here blaming Donald Trump for this Bank catastrophe. It has nothing to do with Donald Trump and everything to do with the elite globalists. Epilogue ... You better get them beans and rice.
If the economy will certainly fold in the next year or two, then owning another piece of land isn't going to help you much. Don't get me wrong, land /real estate can be a great hedge because the supply is fixed (they're not making any more of it). But If you're talking about a complete and total economic meltdown, then nobody will own anything. The banking system will collapse, money will be useless, and we'll be back to bartering, assuming there are any us of left alive. I don't think that's going to happen, short of a nuclear war.
And if you say it won't be supply and demand, and will be that basic goods and services are too expensive, then we're back to inflation. With inflation, if you do buy that land, the monetary value of the land will increase, but the value of the money itself will decrease proportionately. Your land will essentially be worth the same basket of goods that could have been bought with the same money. A mansion sold in 1940 for $50K and sold again in 2023 for $1.8M is the same house. It's the value of the money that's diminished.
Nobody has a crystal ball, and I'm guessing that things will get worse before they get better, but there are a multitude of safeguards in place to prevent a total economic collapse. Could it happen? I guess anything is possible, but I think your deposits are safe, as long as they're under $250K if you're depositing in a Regional Bank. A National Bank will be even safer. Good luck and thanks for your service.
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.
I should clarify my statement of Reaganomics as not finger pointing towards Ronald Reagan, I simply meant that in that time it was an extremely depressing economy where the only people who had money were the elite everyone else was just trying to find work in order to survive. I worked for a company at $6 an hour for somewhere around 3 years and that company struggled with multiple ideas to try to keep employees working. It was an extremely difficult time, my mother who was raised through the Depression was the one who said it was pretty much a depression and not a recession.When Reagan took office, inflation was 16%. Carter had completely screwed the pooch with the economy, as well as everything else. Reagan had to impose austerity measures like wage and price controls to get things back in order. It wasn't technically a Depression. The term is "Stagflation." That means high inflation with high unemployment and a stagnating economy. And things did come around which is one big reason why he was reelected.
If the economy will certainly fold in the next year or two, then owning another piece of land isn't going to help you much. Don't get me wrong, land /real estate can be a great hedge because the supply is fixed (they're not making any more of it). But If you're talking about a complete and total economic meltdown, then nobody will own anything. The banking system will collapse, money will be useless, and we'll be back to bartering, assuming there are any us of left alive. I don't think that's going to happen, short of a nuclear war.
And if you say it won't be supply and demand, and will be that basic goods and services are too expensive, then we're back to inflation. With inflation, if you do buy that land, the monetary value of the land will increase, but the value of the money itself will decrease proportionately. Your land will essentially be worth the same basket of goods that could have been bought with the same money. A mansion sold in 1940 for $50K and sold again in 2023 for $1.8M is the same house. It's the value of the money that's diminished.
Nobody has a crystal ball, and I'm guessing that things will get worse before they get better, but there are a multitude of safeguards in place to prevent a total economic collapse. Could it happen? I guess anything is possible, but I think your deposits are safe, as long as they're under $250K if you're depositing in a Regional Bank. A National Bank will be even safer. Good luck and thanks for your service.
I don't blame Ronald Reagan I most certainly am aware that it was Carter or should I say "idiot Carter."
The idea of putting my money into land is not so much that I anticipat it being a great investment but that I invest my money into something that I can (at the very least) use the land for growing food and feeding goats. I already own a house and property inside of a city and that will sustain me to a certain level but not to the level I can with 5 Acres. I have the tractors and implements that it will take to plant a large enough Garden to stain my self, wife and extended family. So the land is more of an investment in survival.
I do not believe in the safeguards you speak of, there should have been a safeguard for that wonderful bank that collapsed in California and of course all the elite that pulled their money out up to 3 days prior to its collapse. Where were the safeguards for that? This system is a complete and total mess, the politicians, the puppets, that are supposedly in charge of this country are the worst criminals of all. The biden's, the pelosi's, at least 1/2 of the Republicans are all vested in this economic collapse as well. They're all doing insider trading and pulling their money out just about the time things are about to collapse. I don't trust this government whatsoever. It isn't just the Democrats it's also the Republicans. Unfortunately the only way this country will ever have a correction is after it implodes.
I watched the US install multiple dictators in Vietnam, and for every dictator that did not follow the orders of the United States those installed dictators were executed and another was installed in their place. This country has been an invader of countries and not the purveyor of democracy as they claim. You can ask me why I believe that way and I can tell you of some of the missions that I completed in my Tour of Duty where I witnessed the dirty Dog nasty tactics of our government. War is hell but peace is a MF!
The Jews sat back and did nothing, you can read about the results of that trust in their government. I'm not using a crystal ball, I'm using common sense and experience, 70 years experience. And yes sir I am well-educated in economics, I got that education from the GI Bill.
Donald Trump did not cause this latest bank fiasco. Democrats did, their core beliefs on jobs and money warps their thinking on economics, and life in general. 0% interest rates for way too long and printing money were the set up. Next add very greedy "woke" yuppies with no experience running a bank. Bingo! The regulators (Liberals, the FED is Liberals as well) were asleep or in cahoots with these "diverse" banking folks and we end up here with Middle America stuck with paying the bill ......again!Don't DA Trump did away with a lot of Banking regs and this part of what we are going to see until his stupid executive order runs out and the regs get back some teeth.
The safeguards I was referring to are the ones designed to not let the entire economy fail. A regional bank failing is just part of what happens in a free market economy. It's not a good thing. And it is sad when a bank fails and the depositors get screwed, however, the FDIC will reimburse deposits up to $250K. At any rate, Biden bailed out the California bank. You and I are paying for that bank's mismanagement.I should clarify my statement of Reaganomics as not finger pointing towards Ronald Reagan, I simply meant that in that time it was an extremely depressing economy where the only people who had money were the elite everyone else was just trying to find work in order to survive. I worked for a company at $6 an hour for somewhere around 3 years and that company struggled with multiple ideas to try to keep employees working. It was an extremely difficult time, my mother who was raised through the Depression was the one who said it was pretty much a depression and not a recession.
I don't blame Ronald Reagan I most certainly am aware that it was Carter or should I say "idiot Carter."
The idea of putting my money into land is not so much that I anticipat it being a great investment but that I invest my money into something that I can (at the very least) use the land for growing food and feeding goats. I already own a house and property inside of a city and that will sustain me to a certain level but not to the level I can with 5 Acres. I have the tractors and implements that it will take to plant a large enough Garden to stain my self, wife and extended family. So the land is more of an investment in survival.
I do not believe in the safeguards you speak of, there should have been a safeguard for that wonderful bank that collapsed in California and of course all the elite that pulled their money out up to 3 days prior to its collapse. Where were the safeguards for that? This system is a complete and total mess, the politicians, the puppets, that are supposedly in charge of this country are the worst criminals of all. The biden's, the pelosi's, at least 1/2 of the Republicans are all vested in this economic collapse as well. They're all doing insider trading and pulling their money out just about the time things are about to collapse. I don't trust this government whatsoever. It isn't just the Democrats it's also the Republicans. Unfortunately the only way this country will ever have a correction is after it implodes.
I watched the US install multiple dictators in Vietnam, and for every dictator that did not follow the orders of the United States those installed dictators were executed and another was installed in their place. This country has been an invader of countries and not the purveyor of democracy as they claim. You can ask me why I believe that way and I can tell you of some of the missions that I completed in my Tour of Duty where I witnessed the dirty Dog nasty tactics of our government. War is hell but peace is a MF!
The Jews sat back and did nothing, you can read about the results of that trust in their government. I'm not using a crystal ball, I'm using common sense and experience, 70 years experience. And yes sir I am well-educated in economics, I got that education from the GI Bill.
This will be the libs war cry next week..Donald Trump did not cause this latest bank fiasco. Democrats did, their core beliefs on jobs and money warps their thinking on economics, and life in general. 0% interest rates for way too long and printing money were the set up. Next add very greedy "woke" yuppies with no experience running a bank. Bingo! The regulators (Liberals, the FED is Liberals as well) were asleep or in cahoots with these "diverse" banking folks and we end up here with Middle America stuck with paying the bill ......again!
I bought some I-bonds last year at 9.62 or 9.65%You might want to reconsider US Treasuries.
That's part of what bought on the current banking flops.
Just one article of many...
Analysis: SVB collapse unleashes Treasury volatility, whiplashing investors
And with 6.5% inflation rate this year that yields a whopping 3.15% return.I bought some I-bonds last year at 9.62 or 9.65%
That's what's happening to the banking industry now.
Returns are not keeping ahead of inflation.
Which means they are under water...
Maybe they'll need to start working on "the holidays". Poor bastards.
Still better than anything else available at the time.And with 6.5% inflation rate this year that yields a whopping 3.15% return.
That's what's happening to the banking industry now.
Returns are not keeping ahead of inflation.
Which means they are under water...
221 - 240 of 272 Posts
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