So YOU'RE to blame!!!
Posted on 03/11/2023 5:00:32 PM PST by CFW
Home Depot co-founder Bernie Marcus issued a strong warning for everyday Americans.
During an appearance on "Cavuto Live," Marcus discussed the devastating collapse of Silicon Valley Bank, urging Americans to "wake up" and understand that the U.S. economy is in "tough times."
"I can't wait for Biden to get on the speech again and talk about how great the economy is and how it's moving forward and getting stronger by the day. And this is an indication that whatever he says is not true. And maybe the American people will finally wake up and understand that we're living in very tough times, that, in fact, that a recession may have already started. Who knows? But it doesn't look good," Marcus argued, Saturday
(Excerpt) Read more at foxnews.com ...
If the prices of houses goes up by 20% annually don’t expect 3% mortgages.
The traditional mortgagees might decide to buy houses instead of lending money.
I’m losing buying power even when getting over 4% on CDs.
In the mid-1920s to keep Great Britain on the gold standard the Federal Reserve had 1% interest rates as I recollect from reading.
There was a great stock market and housing boom, followed by busts.
I’m guessing that the trigger has already been pulled for at least three of those options.
The nation has too much debt - which is why anyone who argues for cutting taxes without reducing spending should be slapped hard or laughed out of the room.
So YOU'RE to blame!!!
Not sure who this guy is. I’m stopped shopping at home gaypot a long time ago.
“Recession? We’re soaking in it.”
Most don’t notice it so much when it’s happening to their neighbor, but once a recession smacks you in the face, it becomes personal real quick.
The SVB collapse is the kind of thing that can turn a deep blue state into a blood red state very quickly. There will be howls next week for bailouts as the need for them grows, extending out to the regional banks.
People and businesses lost all of their money! How long does it take to process an FDIC claim and get your covered amounts reimbursed? 6 months? a year? longer?
Biden’s budget and policy impacts are beginning to take hold. Either through his addled mind, his treasonous heart, or both — his destruction continues apace.
Janet Yellen is silent here at home after pledging billions to Ukraine, in-person, in just in the past two weeks! Some competence in this position would be MOST WELCOME! (Yo Janet, did you visit East Palestine, OH?)
As the economy convulses throughout the summer, the specter of the Presidential election looms, and is bearing heavily on team Biden’s collective mind. The Democrats are increasingly desperate, and that desperation will grow ever more shrill as we near the election. We only think they are unbearable now.
Do they dare steal two presidential elections in a row? And if they wished to do so, what circumstances might facilitate that?
As Limbaugh used to say: Keep a sharp eye out!
Recession Denier
That’s exactly why. The only two currencies with enough supply to support is euro or Chinese yuan. The former is in every way worse than us and more geo risk and the capital controls in china guarantee no one will trust them to store money.
“recession may be here already” and the sky is blue, bears crap in the woods, and most popes are Catholic.
Oh please. I watched the interview live.
There was NOTHING “crackpot” about what Marcus said.
You’ve got to boil things down to root causes. Yours is a good list.
Inflation is the root cause. Too many dollars chasing too few goods. Money supply rocketed nearly five fold in just a two month period with the stimulus payments. Too much money was created out of thin air.
Xiden kicked it over the edge with his continuation of benefits and more stimulus payments and more spending.
Money supply has never come down in the last 50 years. This five fold increase has to be burned off somehow it seems to me.
Your list is still correct and simple.
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 ...
10-15 years ago, I used to really enjoy listening to Ken Langone. He is indeed very wise, and he spoke blunt truth. He’s also an extremely generous man. It’s easy to see how these two built such a great company. They are both great men. But the last couple of times I saw Ken, he also looked to have passed his “TV expiration date”.
Are there no experts anymore that are younger and more energetic ? People who can make compelling arguments to the up and coming business people watching the show? CNBC goes out of their way now to show “diversity”. It’s sickening. But, I’m not sure listening to very wise dinosaurs is any more entertaining.
Maybe I was just in bad mood… as I don’t much like Cavuto either
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