Author Topic: Fasten your money belt — it's going to be an extremely bumpy few years  (Read 72 times)

0 Members and 1 Guest are viewing this topic.

Offline mystery-ak

  • Owner
  • Administrator
  • ******
  • Posts: 360,439
  • Gender: Female
  • Let's Go Brandon!
March 11, 2023
Fasten your money belt — it's going to be an extremely bumpy few years
By Ethel C. Fenig

Yesterday, along with many, many others, I mentioned a major  financial concern:

The problems of two small banks on the West Coast are rippling across markets and causing new investor concerns about some of the country’s largest financial institutions.

Why? Three words: rising interest rates.

The Federal Reserve’s aggressive campaign to bring down inflation helped set the stage for major problems at two California lending institutions — SVB Financial (SIVB) and Silvergate Capital (SI) — as an outflow of deposits forced both to sell assets at a loss. Those assets were bonds.

BOOM!  BOOM!  POW!  Friday it happened: Silicon Valley Bank (SVB), the U.S.'s 16th largest according to the Federal Reserve, collapsed — the second largest failure in U.S. banking history. 

Don't forget 10% for the "Big Guy"
Support the USO
Democrat Party...the Party of Infanticide

I have come to the conclusion that one useless man is a disgrace, that two become a lawfirm & that three or more become a congress." -John Adams

“Therefore do not worry about tomorrow, for tomorrow will worry about itself. Each day has enough trouble of its own.”

-Matthew 6:34