Bank Run

[gregintenn]

Eggs ain’t cheap these days!

[Moped]

50 minutes ago, gregintenn said:

Eggs ain’t cheap these days!

Eggs is something I'm qualified to speak on, since I buy them all the time.  I got 18 large for $2.97 at Kroger on Friday. Picked up another 18 large today for the same price.  They are coming back down!  

[Chucktshoes]

 

 

7 hours ago, gregintenn said:

It is sad we have been conditioned to hate anyone who took risks, worked hard, made sound decisions, and became successful. Every political speech and every newscast now seem to lump us into separate groups and urge us to hate one another. I’m about ready for us all to become Americans again.

The issue is that when we’re talking about the people in our financial system, like those who got bailed out and all of this, what you describe, doesn’t apply to them. We’re not talking about industrialists. We’re not talking about people who make things or put up their own money to take a risk to make peoples lives better. The finance industry is more about extracting as much wealth out of nothing, and creating an ever more fragile house of cards to accomplish those ends that in the process puts all of us at risk. The two videos that I linked help layout the kind of rigging of the system that goes on. These folks have done a very good job of privatizing the profits while socializing the risks.

[peejman]

7 hours ago, gregintenn said:

It is sad we have been conditioned to hate anyone who took risks, worked hard, made sound decisions, and became successful. Every political speech and every newscast now seem to lump us into separate groups and urge us to hate one another. I’m about ready for us all to become Americans again.

Off topic.... I'm reading this book and finding it very informative on this subject....

Love Your Enemies: How Decent People Can Save America from the Culture of Contempt https://a.co/d/4osIqsg

[btq96r]

14 hours ago, Chucktshoes said:

These folks have done a very good job of privatizing the profits while socializing the risks.

Krystal and Saggar do a magnificent job of breaking down things to not just explain it to regular folks, but how it impacts regular folks.  They have been all over this.  Their show on Monday was fantastic, even for folks like me who still like the wonky details.  I'm really hoping their independent journalism and populist mindsets catch on.

Edited March 15, 2023 by btq96r

[Chucktshoes]

1 hour ago, btq96r said:

Krystal and Saggar do a magnificent job of breaking down things to not just explain it to regular folks, but how it impacts regular folks.  They have been all over this.  Their show on Monday was fantastic, even for folks like me who still like the wonky details.  I'm really hoping their independent journalism and populist mindsets catch on.

I’ve been a day 1 annual subscriber as I found them in the fairly early days of of their time together at Rising. 

[MacGyver]

Credit Suisse has been known to have problems for over a year now - but their stock is down 97% and their priced in chances of collapse are currently at 47%.

They’d be considered an SIB (systemically important bank) or as you might know it - “too big to fail.”

[btq96r]

15 minutes ago, Chucktshoes said:

I’ve been a day 1 annual subscriber as I found them in the fairly early days of of their time together at Rising. 

I was watching them back then as well.  The risk they took going independent and relying only on subscription and YouTube/Spotify revenue was pretty substantial.  But their work is worth rewarding.  I don't always agree with their conclusions, but their way of approaching a story is refreshing.

[Chucktshoes]

10 minutes ago, MacGyver said:

Credit Suisse has been known to have problems for over a year now - but their stock is down 97% and their priced in chances of collapse are currently at 47%.

They’d be considered an SIB (systemically important bank) or as you might know it - “too big to fail.”

Yeah, I’m pretty sure they’re going down as well. we were supposed to fix the issue presented by SIBs, and instead have only made the problem worse. I worry that if this really gets rolling the 2008 collapse will only look like a dress rehearsal.

[gregintenn]

12 minutes ago, MacGyver said:

Credit Suisse has been known to have problems for over a year now - but their stock is down 97% and their priced in chances of collapse are currently at 47%.

They’d be considered an SIB (systemically important bank) or as you might know it - “too big to fail.”

A few shares of that stock would be an interesting gamble.

[Erik88]

4 minutes ago, Chucktshoes said:

Yeah, I’m pretty sure they’re going down as well. we were supposed to fix the issue presented by SIBs, and instead have only made the problem worse. I worry that if this really gets rolling the 2008 collapse will only look like a dress rehearsal.

And I'm positive that no one at these banks will be held accountable yet again.

When people complain about the rich, these are the assholes I have in mind. I have no issues with some self made person that found wealth through hard work and entrepreneurship. Like you said, these people in the financial sector are something completely different. 

I think my uncles in Minnesota are starting to retire as wealthy men after farming for 40 years. They have worked hard and benefitted the country along the way. I would never complain about someone like that. 

[Chucktshoes]

7 minutes ago, Erik88 said:

And I'm positive that no one at these banks will be held accountable yet again.

When people complain about the rich, these are the assholes I have in mind. I have no issues with some self made person that found wealth through hard work and entrepreneurship. Like you said, these people in the financial sector are something completely different. 

I think my uncles in Minnesota are starting to retire as wealthy men after farming for 40 years. They have worked hard and benefitted the country along the way. I would never complain about someone like that. 

[gregintenn]

1 hour ago, Erik88 said:

And I'm positive that no one at these banks will be held accountable yet again.

When people complain about the rich, these are the assholes I have in mind. I have no issues with some self made person that found wealth through hard work and entrepreneurship. Like you said, these people in the financial sector are something completely different. 

I think my uncles in Minnesota are starting to retire as wealthy men after farming for 40 years. They have worked hard and benefitted the country along the way. I would never complain about someone like that. 

I agree. However, when .gov starts talking about the rich paying their fair share, they aren’t referring to shady bankers. They’re talking about your uncles.

[Chucktshoes]

12 minutes ago, gregintenn said:

I agree. However, when .gov starts talking about the rich paying their fair share, they aren’t referring to shady bankers. They’re talking about your uncles.

Therein lies the rub. The ones we are talking about use our desire to protect folks like Erik’s uncles as cover against regulations that would rein in their malfeasance. 

[gregintenn]

If only we could swap over to a government controlled digital currency, this sort of thing couldn’t happen any more.

[Chucktshoes]

18 minutes ago, gregintenn said:

If only we could swap over to a government controlled digital currency, this sort of thing couldn’t happen any more.

Nobody who doesn’t stand to benefit materially from that sort of transition advocates for it. 

[AuEagle]

Things get dicey when free money isn't free anymore...

[AuEagle]

"Panic, Meltdowns, People Crying..." | ZeroHedge

[gregintenn]

33 minutes ago, Chucktshoes said:

Nobody who doesn’t stand to benefit materially from that sort of transition advocates for it. 

That would be a hill to die on for people who’ve studied and learned what it really means.

[Chucktshoes]

15 minutes ago, gregintenn said:

That would be a hill to die on for people who’ve studied and learned what it really means.

Refer back to my guillotine meme. 

[BigK]

3 hours ago, Chucktshoes said:

Therein lies the rub. The ones we are talking about use our desire to protect folks like Erik’s uncles as cover against regulations that would rein in their malfeasance. 

The anti-gun crowd sees the armed criminal hiding behind laws that protect you and I too. I don't want them to throw the good out with the bad, so I also don't want the good capitalists to be punished with the robber barons.

[BigK]

3 hours ago, gregintenn said:

I agree. However, when .gov starts talking about the rich paying their fair share, they aren’t referring to shady bankers. They’re talking about your uncles.

Isn't it ironic that the same crooks we elected and sent to DC are the same ones that created the laws to regulate the shady bankers? Then the shady bankers outsmart them and taxpayers are left holding the bag for the cost of the flawed regulations. If the headsman's ax is coming out for one single shady banker it better be coming out for all the complicit .gov bureaucrats too.

[Chucktshoes]

15 minutes ago, BigK said:

The anti-gun crowd sees the armed criminal hiding behind laws that protect you and I too. I don't want them to throw the good out with the bad, so I also don't want the good capitalists to be punished with the robber barons.

The difference being the armed criminal doesn’t spend tens of millions of dollars on lobbyists and political donations to gain the ability to write the laws to benefit them. It’s not an apples to apples comparison. 

[threeshot]

I watched this PBS Frontline Tuesday night and thought the program did a great job explaining how we got this point of bank failures. There are many reasons that caused the financial crisis we are currently experiencing today.

https://www.pbs.org/wgbh/frontline/documentary/age-of-easy-money/

[ck1 actual]

6 hours ago, AuEagle said:

"Panic, Meltdowns, People Crying..." | ZeroHedge

Zerohedge is the best source for economic news.   If you don’t read ZH daily you are not going to make it.  
 

All eyes on Credit Suisse next.   This party is just getting started.  

Edited March 16, 2023 by ck1 actual