Posted on 03/12/2023 8:41:39 AM PDT by Diana in Wisconsin
"Alas, we believe the soft-landing scenario is highly unlikely. The recklessness that was committed in the run-up to the coronavirus panic, which then went into complete overdrive when the whole world lost its mind, must be reconciled."
"The central planners, eager to deliver something for nothing, caused an epic disaster. And they won’t stop. They’ll continue to act – and they’ll say they’re acting with courage. What then?"
"In the meantime, pay down debts, save cash, buy gold, and stack silver. With a little luck, you’ll make it though with a slimmer waistline and a greater mistrust of the planners in charge."
Comment deleted.
The sky is falling, the sky is falling...
Ok, what is “stack silver”?
The first two sentences are ridiculous assumptions held only by idiot leftists. NOTHING in MY economy suggested anything but WORSE to come. Apparently, none of these idiots ever look at food prices. Unimaginable lunacy.
On Friday night, thousands of wineries found that they were completely locked out of their accounts with no clear timeline as to when they might be able to access their funds.
Exactly.
I don’t know of or have heard of a single person that had that outlook except LYING PUBLIC OFFICIALS who are out to destroy this country.
On Friday night, thousands of wineries found that they were completely locked out of their accounts with no clear timeline as to when they might be able to access their funds.
California wine industry faces financial crisis - with majority of vineyards locked out of their accounts amid SVB collapse
Daily Mail ^ | 3-11-23 | JAMES GORDON
Posted on 3/12/2023, 8:08:10 AM by dynachrome
California’s wine industry is on the brink of a financial crisis following the collapse of Silicon Valley Bank.
The bank had been the main financial institution for bank for wineries in the Golden State for almost three decades.
The California Department of Financial Protection and Innovation closed the bank on Friday following a run by venture capital customers.
On Friday night, thousands of wineries found that they were completely locked out of their accounts with no clear timeline as to when they might be able to access their funds.
Kendra Kawala, co-founder of Maker, a canned wine company located in the Bay Area, called the news ‘jarring’ noting how Silicon Valley Bank was ‘the gold standard within the wine industry.’
(Excerpt) Read more at dailymail.co.uk ...
Interest rates can’t be low with high Biden era inflation.
First liquidate the economy.
Then liquidate the useless eaters...
WOW
>Ok, what is “stack silver”?
He means buy silver and stack it high.
Higher “rates mean higher borrowing costs. And higher borrowing costs mean a greater percentage of income is needed to service the debt.”
In real terms, borrowing is cheaper than during the Trump administration.
Trump era: 3% inflation, 3% mortgage = no real interest cost
Biden era: 8% inflation, 6% mortgage = -2% real interest cost
In real terms, Biden inflation has slashed the real burden of the national debt and of most mortgages.
Biden inflation has decimated the savings held by bank depositors.
Obama and Trump era inflation of 3% and banks paying 1% on CDs meant only a 2% annual loss of bank depositor buying power.
That one’s gonna hurt! :(
Pay down only high interest rate debt.
Doing that...
> Biden era: 8% inflation, 6% mortgage = -2% real interest cost <
That’s only true if inflation is really at 8%. Which it’s not.
Many of us here remember the pain of the Carter years.
It’s back, except the central planners have their end game in sight. Buckle up.
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