Well, not just jet but about to. Stay tuned for more bank failures. The EVERYTHING bubble is about to pop.
Well, we'll see about that in the next couple of days or so. P.S. I guess I should have posted this in "Current events". Mods, please feel free to move it there, please.
an economy that can not provide homes or health care to everyone is a failure no matter how many billionaires it creates.
and as long as the billionaires can keep convincing the poor people they have a chance at becoming a billionaire, they can find enough people to agree to keep it going. It's the same reason the lottery is successful, it convinces poor people to spend their last dollar on hope.
Everything Everywhere All At Once! It's What the Trump Supporting Evangelicals Prey For, well, a substantial number of them anyway, possibly even in the double digits. CS is one of the dogs I've been keeping in my watchlist. Along with Under Armour. Shoulda bought some GIS though, really great rebound from when I first spotted the market beating it up. Ya think CS will fold? Seems a bit unlikely that the Swiss would let that happen. Known for their banking business that would be bad optics to let their only commercial banking player fail - wouldn't it?
My 2 cents, it's not the economy or even the billionaires, it's that corps and billionaires can unduly (and legally) funnel money to and unduly promote and influence candidates and then the siting politicians without the people who have to vote for these candidates and politicians clearly knowing who's backing who, why and what might be the consequences. Citizens' United was the dagger in democracy's back that started this entire lack of balance in the near past, it benefited the parties and the politico but not the average American. Corporations are also SIMPLY not people too...there "vote" far out weighs any one person's vote. The system has been corrupted likely beyond any easy and meaningful correction. Government is, as a whole, not representing the people and not it's obvious unless you see certain of your fellow citizenry as the enemy and are focused on the tree and not the forest.
Banks loan and invest the moneys deposited with them. Very few banks, if any, have that money in instruments which allow conversion to cash in, say, one day's time. That means that banks can be forced to shut down should large runs begin. That's the background information. Now consider how quickly information, whether true or false, can be spread on the internet or, for that matter, by AM radio talk show hosts. Given the above, the steps taken by the Federal Reserve to date seem appropriate to this poor old country mouse. Regards, stay safe 'n well..
It's a good time to buy a 6 week meal supply. Stay safe out there guys, all of our bulls*** is coming home to roost.
Yeah, that's the EVERYTHING bubble. You're right, they are safe, for now. For the tune of $54 billion. Considering Switzerland is 8.6 mln people (38.7 times less than Americans), that's like bailing out an American bank for the tune of ~2090 billion dollars. Pretty bad, uh? We'll se how it goes.
