Lenders quit lending when they decide that the current economic situation is unstable and that loans will likely not be repaid. It is not a judgment of the banks against individual borrowers but on the overall economy itself.
Wellls Fargo is betting on the economy rankings so it is refusing loan applications and hoarding cash.
After all, banks make money on loans and if they stop lending it means they expect losses if they do. It isn’t just to piss us off, they are betting against Biden’s economy.
Bingo.
To banks, loans are assets.
To banks, checking and savings accounts are liabilities.
A small business owner told what you are saying about WF a month ago. WF is reading the Biden economy and is entrenching.
Do you mean, "...on the economy tanking?"
Regards,
All cash flows will start reversing with institutions hoarding cash in the federal reserve. Cash is becoming worthless. Federal reserve does not care. The 1.6 and 3.5 trillion infrastructure packages are just Trojan horses to bust the economy. What government would continue unemployment benefits in the face of workers refusing to work? What government would issue trillions in debt in the face of runaway inflation? Everything the government does is Kabuki. The 1/6 hearings, the “Trump” investigations, all the illegal DOJ pronouncements, all Kabuki. What’s real: continuing efforts to cower the population and preparation to bust the economy and thus the dollar.
We don’t have long left to pullout chestnuts out of the fire. When to collapse comes it will happen overnight. You will be screwed by everything you ever trusted, even your church.