Posted on 03/12/2023 6:57:32 AM PDT by Carriage Hill
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."
(Excerpt) Read more at foxnews.com ...
It’s a recession if your neighbor’s bank fails; a depression if your bank fails.
One scary thing about this is that Congress spends like crazy when times are good. Any downturn will give them an excuse to spend even more. Thank goodness the GOP will put a brake on all this.
I kid about the GOP, of course.
Democrats spend like crazy.
Republicans grumble a bit, then spend like crazy.
But Joe says everything is swell.
He’s pissed he has to pay 15 percent in taxes this year for the first time ever. Of course, the managers of Winn Dixie and Publix are grumbling about it too. Says corporate is in a panic over it.
Right and all the democrats think everything is great and they have such a good leader.
Thanks; I asked the nice AM to lock this one. My error.
Dude...
This is the bush/mccain era depression level event finally playing itself out..
Bernanke prevented depression then by cranking up the printing presses.
Problem is, nobody bothered to slow them down again.
Not Bushie, not fubo, not Trump, and especially not fjb.
The whole thing was built upon a house of cards, and everyone just kept letting the good times roll.
Now, we have no choice but to stop the presses.
The time for a soft landing has come and gone.
Hold on, becuase this is gonna be one hell of a recession.
But depression, I don’t think so
Carriage Hill:" We've been in a 'recession' for 2+ years; I believe we're very soon -- if not already
-- headed into a 'depression' this Spring, not on a par with 1929, but one nevertheless."
(From the article): "The closure of Silicon Valley Bank (SVB) was announced by the Federal Deposit Insurance Corporation (FDIC) on Friday,
marking the worst U.S. financial institution failure in nearly 15 years.
SVB was the 16th largest bank in the United States until Friday afternoon.
It failed after anxious depositors rushed to withdraw money over concern for the bank's health.
"I think that the system, that the administration has pushed many of these banks into [being] more concerned about global warming than they do about shareholder return.
And these banks are badly run because everybody is focused on diversity and all of the woke issues
and not concentrating on the one thing they should, which is, shareholder returns," Marcus continued.
"Instead of protecting the shareholders and their employees, they are more concerned about the social policies.
And I think it's probably a badly run bank. They've been there for a lot of years.
It's pathetic that so many people lost money that won't get it back."
(My Comment) As one FReeper poster stated :" A recession is when your neighbors bank goes under,
a Depression is when your bank goes under"
More information is available at the original news source...
as well as the 'ripple-down effect" on the banking market, and which other banks might be involved.
LOL! Be nice to them lest you be put in time out. I have been in the past for “learn to search”. 😁👍
Yes we have been in a recession, but the dimrat controlled media will never admit it. Inflation started up right after biden killed off the keystone XL and fuel prices started heading up. All it takes is a trip to the grocery store to figure that out.
Greatest economy eva. But Xiden bases this on his myopic view of the economy: the jobs report, which he had BLS lie for him.
I always search the title, but this time mistakenly put-in the URL, and nothing came up. THEN, after posting, I had some Kona Coffee and realized what I did. LOL.
I happened to catch it yesterday on Cavuto, a liberal POS, and Bernie Marcus was beautiful, he totally blasted Biden and his gang of thugs.
p
I watched this live yesterday. Cavuto was trying to have Marcus not say what he was saying, and Bernie was having none of it.
Cavuto did everything possible to denigrate Trump on his show. Never a chance went by he wouldn’t spit out his hatred for him. Now he’s sort of hoping his remaining audience doesn’t remember.
So we have a whole bunch of big, woke, Dem donors and voters cut off from all their funds because they were not diverse enough in their investment strategy. Brought on because a swarm of them, thinking like lemmings in lockstep, representing 1/5 of all deposits, all panicked at the first sign of bad news, synchronized and sped up by the very products they’d created. Jumping off a cliff, in fear of reports the giant bank’s value had dipped les than half a percent below book value, they now may lose up to 90% of the value. So now they turn to their altar of government, with no funds to donate, no lobbyists on active payroll, and expect to be coddled like they were still rolling in dough. What a perfect example of the brand!
Wait, what? Biden and the media say the economy is great!?
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