SVB collapse only 'the tip of the iceberg' under Biden spending policies, economist warns

[mystery-ak]

 March 13, 2023 1:30pm EDT
SVB collapse only 'the tip of the iceberg' under Biden spending policies, economist warns
Steve Moore says trillions in spending putting financial system in 'great peril'
By Fox News Staff | Fox News

    Former Trump White House adviser and chief economist at FreedomWorks Steve Moore said Silicon Valley Bank's collapse might be the "tip of the iceberg" for the financial system. Moore told Harris Faulkner Monday that the Biden administration's spending caused the Federal Reserve to raise interest rates, leading to financial problems for many major banks.

BIDEN SAYS AMERICANS SHOULD 'FEEL CONFIDENT' IN BANKING SYSTEM AFTER FEDERAL RESPONSE TO SVB COLLAPSE

STEVE MOORE: I agree with the president that we don't have an overall banking crisis. The system is sound, but I do think you have a lot of major banks that are in some trouble. And SVB, the Silicon Valley Bank, may just be the tip of the iceberg here. And I think it's important for people to understand how this potential banking crisis happened. It's not because there aren't enough bank regulators, as Biden is trying to say. It's because of the massive inflation and the trillions and trillions of dollars of borrowing that the federal government has done that has put our financial system in great jeopardy and great peril.

more
https://www.foxnews.com/media/svb-collapse-tip-iceberg-biden-spending-policies-economist-warns

[Free Vulcan]

I'm hoping the system's exposure to t-bill and crypto investments is not widespread.

One way or another we're about to find out pretty quick.

[roamer_1]

I know it sounds mean, but I am hoping for the crater... Because it is coming, one way or the other, and the longer it waits the bigger it gets.

Just as soon take the hit now, while it may be manageable. 

[catfish1957]

Just a quick eyeball of the market cap of the small to mid banks today (down then up) , I am guessing close to a half trill changed hands just in the low end of that sector of equities today, (Not even counting deposits)

But to who......

[catfish1957]

I know it sounds mean, but I am hoping for the crater... Because it is coming, one way or the other, and the longer it waits the bigger it gets.

Just as soon take the hit now, while it may be manageable. 

You and I both have been talking about the "kicking the can down the road" aspects of Fedzilla's ever increasing price tag of debt for years.

Not sure any of this managable at this point, whether it is 1930 times 10, or Zimbawe.

[Idiot]

I know it sounds mean, but I am hoping for the crater... Because it is coming, one way or the other, and the longer it waits the bigger it gets.

Just as soon take the hit now, while it may be manageable. 

Heck....just print more money.  Isn't that the answer...lol.