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Now, banks do fail from time to time. But these circumstances are eerily similar to 2008… though the reality is much worse. I’ll explain:
A sign of things to come as debt deflation takes hold. All of a sudden, banks are in the spotlight. The collapse of Silvergate, the crypto bank, has coincided with a good-old fashioned bank run on Silicon Valley bank (SVB). T
As Statista's Katharina Buchholz reports, after a period of progress and decline, the U.S. homeless population has increased slightly in 2020 and 2022, according to a report from the Department of Housing and Urban Development. The 2021 numbers were affected by shelters lowering capacity due to the Covid-19 pandemic during the count that takes places in the first month(s) of every year.
"Much like the contrived economic arguments behind the wealth tax, its legal arguments are a result of politically motivated reasoning to bring about a new tax system that the Constitution prohibits." ~ Phillip W. Magness
Allowing banks to fail may sound extreme, but it’s really the most reasonable solution. It’s true there will be some costs if the banks fail. Any time a business fails, other investors tied financially to the company lose. But here’s the rub—people who invest in bad businesses should lose. SVB’s failure is a reflection of the fact that it was a wealth shredder.
Free Money = Toxic Money: First Republic Bank and Western Alliance Bank Make it into my Pantheon of Imploded StocksMar 14, 2023 - 07:03:36 PDT
Banks as stock-pump schemes in the era of consensual hallucination.
Here's my Hoot of the Day: Barney Frank Blames Crypto, Elizabeth Warren Blames Trump
What is a bank run and are recent events likely just the first suggesting the Fed has "broken something" in the financial system?
Gold prices eased on Tuesday, pausing their sharp rally driven by the U.S. banking crisis, as the dollar rebounded, while traders positioned for inflation data that could also influence the Federal Reserve's interest rate strategy.
Policymakers who had been raising rates now must factor in a new risk of financial instability.
Shelter Inflation Hits Record High As Americans' Real Wages Drop For 32nd Straight MonthMar 14, 2023 - 06:05:21 PDT
After January's disappointing 'stall' in the linear demise of inflation, consensus expectations were for a re-acceleration of the YoY decline in headline CPI (from 6.4% to 6.0%), and the actual print came in right on expectations (+0.4% MoM, +6.0% YoY). That is the lowest YoY CPI since Sept 2021...
Senator Warren Calls For Powell's Recusal From Fed's Bank Failure InvestigationMar 14, 2023 - 06:04:39 PDT
Senator Elizabeth Warren tweeted Tuesday morning that Federal Reserve Chairman Jerome Powell "must recuse himself" from the Fed's investigation into the demise of Silicon Valley Bank.
The Treasury market is signaling that a recession is all but inevitable, if history is any guide.
Mar 14, 2023 - 05:57:09 PDT
The bank was sitting on an unreallized loss of nearly $109 billion in a large bond portfolio at the end of 2022
Inflation is much more than a monetary phenomenon; it rips at the very core of social cohesion...
Roubini Launches Alternative Haven Trade for the Era of Endless InflationMar 14, 2023 - 05:50:16 PDT
Economist Nouriel Roubini has partnered with Goldman Sachs Group Inc. to launch the first in a suite of planned financial products that offer investors an alternative safe haven in a big market crash.
A selloff in global financial stocks paused Tuesday after a two-day, $465 billion wipeout.
CNBC's Diana Olick on why the housing market is in deep trouble. With CNBC's Sara Eisen and the Fast Money traders, Tim Seymour, Courtney Garcia, Jeff Mills and Steve Grasso
Mar 14, 2023 - 05:41:59 PDT
Legions of European businesses are succumbing to the final straw of Europe's largely self-inflicted energy crisis.
Mar 14, 2023 - 05:38:53 PDT
There has been an avalanche of information and numerous theories circulating the past few days about the fate of a bank in California know as SVB (Silicon Valley Bank). SVB was the 16th largest bank in the US until it abruptly failed and went into insolvency on March 10th. The impetus for the collapse of the bank is tied to a $2 billion liquidity loss on bond sales which caused...