Inflation Or Bank Collapse, Which To Choose?

[1srelluc]

Well given that most uninsured accounts are with "woke" banks like Citibank, BoA, and Wells Fargo then I'm going with a bank collapse.

 

[Vastator]

Voting... That's a good one... I like that...

 

[Mac1958]

The banks won't collapse. They'll get bailed out, whether they deserve it or not. Maybe next time they will fucking hedge for inflation like they're supposed to.

The Fed needs to kill inflation. They're still dancing on the edge here, but it has to be done.

 

[Dekster]

That is the right choice, but not an easy one.

Inflation hurts everyone, but the poor the most. Deposits are insured up to 250 grand so lower income people would not be hurt at all by a bank closing depending upon how fast the money was paid.

If your employer's money or your local government's money were in those banks, the lower income people would be hurt a great deal. Rich people aren't rich because they keep their money in a passbook savings account yielding nominal interest. That democrats want to open up banks in post offices because of how harmful it is not to have access to banking reflects how wrong-headed that idea of letting them fail is.

Anyway, recession is the solution to all this and it is coming.

 

[Harpy Eagle]

Anyway, recession is the solution to all this and it is coming.

Yep, the Fed will not stop till it arrives.

 

[Dekster]

Yep, the Fed will not stop till it arrives.

It was bound to arrive anyway. Way too much cash injected into the economy too quickly in the name of protecting us from COVID. Fake it til you make it never works out in the end, well except in reality television.

 

[Harpy Eagle]

It was bound to arrive anyway. Way too much cash injected into the economy too quickly in the name of protecting us from COVID. Fake it til you make it never works out in the end, well except in reality television.

True, and not counting the mini recession of COVID we were long overdue for one. They are built into the system.

 

[skews13]

Well, the Fed has said for quite a while now that they will aggressively raise interest rates to bring inflation back down to around 2%, after which they then hinted they may have to accept about 3%. Now we have had banking collapses due to the Fed's higher interest rates so now the choice is either continue raising rates to tamp down inflation, bringing us to economic catastrophe, or, accepting high inflation. Democrats have put us into a lose/lose scenario.

And, the funny part is (if you can call it funny) is Biden is talking about holding bank managers accountable for bank failures due to Democrats raising interest rates to combat Democrat's high inflation (which they once claimed was only transitory). When are Biden and others on the left going to hold themselves accountable, IE accepting responsibility for all this? Which should we be more happy with, lower inflation with banking collapse or high inflation where Americans can't afford groceries or rent?

Which do we choose? Or, should we pick door number 3, voting the bastards out?

How about door number four, where inflation is 110% caused by inflated corporate pricing, taking advantage of fools that blame it on everything else except corporate CEO’s?

Unless of course you’re really that big of a sucker.

 

[Independent thinker]

How about door number four, where inflation is 110% caused by inflated corporate pricing, taking advantage of fools that blame it on everything else except corporate CEO’s?

Unless of course you’re really that big of a sucker.

Ummmmmmmmmmm, that doesn't make any sense. You say that corporate greed is making inflation worse right now at 6% and then you claim if we let the corporate CEO's get greedy it will increase inflation to 110%.

 

[Votto]

Only 18 Republicans senators voted for the $1.7 trillion dollar Xiden bill

They always have just enough GOP support to get things passed, don't they.

 

[struth]

They always have just enough GOP support to get things passed, don't they.

but they have all the dem support to get it passed

 

[g5000]

Well, the Fed has said for quite a while now that they will aggressively raise interest rates to bring inflation back down to around 2%, after which they then hinted they may have to accept about 3%. Now we have had banking collapses due to the Fed's higher interest rates so now the choice is either continue raising rates to tamp down inflation, bringing us to economic catastrophe, or, accepting high inflation. Democrats have put us into a lose/lose scenario.

And, the funny part is (if you can call it funny) is Biden is talking about holding bank managers accountable for bank failures due to Democrats raising interest rates to combat Democrat's high inflation (which they once claimed was only transitory). When are Biden and others on the left going to hold themselves accountable, IE accepting responsibility for all this? Which should we be more happy with, lower inflation with banking collapse or high inflation where Americans can't afford groceries or rent?

Which do we choose? Or, should we pick door number 3, voting the bastards out?

Um...how did the Democrats raise interest rates?

Do you even understand what caused the present inflation? Your posts strongly suggests you think you do, but you have no idea.

 

[g5000]

Great idea. Have a banking collapse and run on the banks and get the country back to 1930.

This is a Scylla and Charybdis moment.

 

[Independent thinker]

Um...how did the Democrats raise interest rates?

Do you even understand what caused the present inflation? Your posts strongly suggests you have no idea.

Yellen and Powell are blue, through and through. Besides, it is democratic policies which led to high inflation, and the idiots Yellen and Powell thought the best way to combat bad Democratic policies wasn't to change the bad democratic policies but to raise interest rates.

 

[g5000]

Welcome to Xiden's America...record inflation, skyrocketing interest rates, and bank failures.

Wow. You could not have made a more uninformed post!

 

[struth]

Um...how did the Democrats raise interest rates?

Do you even understand what caused the present inflation? Your posts strongly suggests you think you do, but you have no idea.

by raising them…

 

[g5000]

Only 18 Republicans senators voted for the $1.7 trillion dollar Xiden bill

But they all voted for Trump's $8 trillion of deficit spending, while ignorant fools like you remained totally silent about it.

 

[Independent thinker]

Um...how did the Democrats raise interest rates?

Do you even understand what caused the present inflation? Your posts strongly suggests you think you do, but you have no idea.

Of course I know what caused current high inflation. Democratic policies of being pro-labor and anti-business and pro-green and anti-energy, along with giving Putin the green light to invade Ukraine by letting Afghanistan fall so quickly to a bunch of rag tag terrorists.

 

[EvilCat Breath]

It seems to me that the GOP voted alongside the democrats for the last massive spending.

The American people have no representation, and seemingly never have had any of any consequence.

Nope. Not one republican voted for the massive spending

American Rescue Plan Act of 2021

Ballotpedia: The Encyclopedia of American Politics

ballotpedia.org

 

[g5000]

That is the right choice, but not an easy one.

Inflation hurts everyone, but the poor the most. Deposits are insured up to 250 grand so lower income people would not be hurt at all by a bank closing depending upon how fast the money was paid.

Low income people would be the first ones hurt by a large scale banking system failure. They would all be unemployed.