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Are you listening to yourself? Handing that power to the government is a huge mistake. If Trump and the republicans were in control of the government would you honestly be advocating giving THEM that much censorship power? Free speech has to be free if we are to be free.
Many privately owned restaurants in my area are closing. The cost of dining out has increased significantly.Beyond the market, people have been having to dip into their life saving in order just to live in Xideninflation....
With inflation running at a 40-year high, 36% of U.S. adults tapped their savings to cover living expenses: Survey
With inflation running at a 40-year high, 36% of U.S. adults tapped their savings to cover living expenses: Survey
With inflation running at 40-year highs, 36% of adults in a new survey said they have had to turn to savings to cover their living expenses.www.cnbc.com
There is no way around it, Xiden and the Demafasicst agenda has made Americans worse off, and poorer
The point of the thread is that the economy is falling apart, because one right wing media outlet says so.Meanwhile back in reality, we've added something like 800,000 jobs this year. Not exactly what any economist would call "falling apart".
Trickle down is simply the economy working as is designed.Blame it all on Ronald Reagan and the "trickle down economics" scam.
The stock market has been shaky under Biden. 401K's are taking a hit.
I was just thinking this morning. I have an open mind and I was trying to think of something good Biden has done. Even though I lean right I try to give the other side a fair shake. But, I couldn't think of anything good Biden has done.13 Mar 2023 ~~ By STEPHEN GREEN
The Biden Economy Is Falling Apart, Everything, Everywhere, All at Once
The Biden Economy — hailed Monday morning by Presidentish Joe Biden as “strong” — seems like it’s falling apart, everything, everywhere all at once. NYSE halted trading of Charles Schwab, whose shares fell by more than 20%, and even a few Etsy sellers have been impacted by the fallout of Silicon Valley Bank’s (SVB) collapse.
Schwab’s fall was the firm’s “most ever on an intraday-basis,” even as company execs assured investors in a press release that “Schwab’s long-standing reputation as a safe port in a storm remains intact.”
Overall, trading of shares in over 30 banks was halted on Wall Street Monday morning, as the entire sector suddenly looks like a risk investors aren’t willing to take. Almost everything banking was down, down, down in pre-market trades, which MarketWatch described as “panic-like activity.”
“Among some of those that have already been halted at least twice,” MarketWatch reported, “shares of Western Alliance Bancorp WAL, -51.05% plummeted 78.2%, Regions Financial Corp. RF, -5.33% sank 15.6%, First Republic Bank FRC, -64.05% plunged 65.5%, Comerica Inc. CMA, -21.24% tumbled 39.4% and PacWest Bancorp. PACW, -25.18% took a 47.7% dive.”
Signature Bank, “a key financial institution for the cryptocurrency industry,” according to the New York Post, was shut down on Sunday over “similar systemic risk” to SVB.
SVB and Signature are the second- and third-largest bank failures in U.S. history, respectively, with combined assets in excess of $300 billion.
~Snip~
“We’ve made strong economic progress in the past two years,” Biden said Monday. The RNC Twitter account responded with a few inconvenient truths: “When Biden took office, inflation was at 1.4% and gas was $2.39/gal. Today, inflation is at 6.4% and gas is $3.47/gal.”
And that was before the big bills starting coming due for three years spent shutting down and re-regulating the economy while printing up trillions in funny money.
I could say “I told you so,” gentle reader, but you were telling me, too.
Commentary
Bu, Bu, Bu, Bu, But, the economy's strong as hell. Biden said so. Would Joe lie? You mean the Kabul pullout was NOT a glorious triumph?
This is why Maoist Democrats have to steal from others - they’re too stupid to honestly earn money but great at going bankrupt
Mission Accomplished!
Food in general has....folks can't afford eggs, how can they afford someone to make it for them? It's truly tragic the fall out from electing this Admin....the long national nightmare can't end soon enough....Many privately owned restaurants in my area are closing. The cost of dining out has increased significantly.
~~~~~~"The point of the thread is that the economy is falling apart, because one right wing media outlet says so."
No, it's not.
The writer is simply giving voice to what every thinking person can see.
www.forbes.com
www.cbsnews.com
Taco Bell is still reasonably inexpensive.Food in general has....folks can't afford eggs, how can they afford someone to make it for them? It's truly tragic the fall out from electing this Admin....the long national nightmare can't end soon enough....
Meanwhile back in reality, we've added something like 800,000 jobs this year. Not exactly what any economist would call "falling apart".
www.forbes.com
Good thread. Our economy DOES seem to be falling apart. Shortages of foods, high gas, banks failing, contagion risk for the financial system, high inflation brought on by helicopter drops during Covid, and now WAAAAAAY too severe, fast interest rises to stop the inflation which has lead to the bank failures, everyone agrees. Because they are all underwater with their collateral, however conservative (U.S. Treasuries).13 Mar 2023 ~~ By STEPHEN GREEN
The Biden Economy Is Falling Apart, Everything, Everywhere, All at Once
The Biden Economy — hailed Monday morning by Presidentish Joe Biden as “strong” — seems like it’s falling apart, everything, everywhere all at once. NYSE halted trading of Charles Schwab, whose shares fell by more than 20%, and even a few Etsy sellers have been impacted by the fallout of Silicon Valley Bank’s (SVB) collapse.
Schwab’s fall was the firm’s “most ever on an intraday-basis,” even as company execs assured investors in a press release that “Schwab’s long-standing reputation as a safe port in a storm remains intact.”
Overall, trading of shares in over 30 banks was halted on Wall Street Monday morning, as the entire sector suddenly looks like a risk investors aren’t willing to take. Almost everything banking was down, down, down in pre-market trades, which MarketWatch described as “panic-like activity.”
“Among some of those that have already been halted at least twice,” MarketWatch reported, “shares of Western Alliance Bancorp WAL, -51.05% plummeted 78.2%, Regions Financial Corp. RF, -5.33% sank 15.6%, First Republic Bank FRC, -64.05% plunged 65.5%, Comerica Inc. CMA, -21.24% tumbled 39.4% and PacWest Bancorp. PACW, -25.18% took a 47.7% dive.”
Signature Bank, “a key financial institution for the cryptocurrency industry,” according to the New York Post, was shut down on Sunday over “similar systemic risk” to SVB.
SVB and Signature are the second- and third-largest bank failures in U.S. history, respectively, with combined assets in excess of $300 billion.
~Snip~
“We’ve made strong economic progress in the past two years,” Biden said Monday. The RNC Twitter account responded with a few inconvenient truths: “When Biden took office, inflation was at 1.4% and gas was $2.39/gal. Today, inflation is at 6.4% and gas is $3.47/gal.”
And that was before the big bills starting coming due for three years spent shutting down and re-regulating the economy while printing up trillions in funny money.
I could say “I told you so,” gentle reader, but you were telling me, too.
Commentary
Bu, Bu, Bu, Bu, But, the economy's strong as hell. Biden said so. Would Joe lie? You mean the Kabul pullout was NOT a glorious triumph?
This is why Maoist Democrats have to steal from others - they’re too stupid to honestly earn money but great at going bankrupt
Mission Accomplished!
~~~~~~Good thread. Our economy DOES seem to be falling apart. Shortages of foods, high gas, banks failing, contagion risk for the financial system, high inflation brought on by helicopter drops during Covid, and now WAAAAAAY too severe, fast interest rises to stop the inflation which has lead to the bank failures, everyone agrees. Because they are all underwater with their collateral, however conservative (U.S. Treasuries).
Worrying.
I don't think so. HUGE discussion of this in the business press now, whether or not you are right. In theory, it's NOT taxpayer money, it's a tax on all the other banks.The thing to remember is Yellen and Biden said they will NOT bailout $millionaires with SVB
But that is exactly what they did. 100%.
Some of the depositors had $millions held at SVB - and they will not only get 100% of their money, but with interest.
You have been lied to again.
They will get the money, already said.I don't think so. HUGE discussion of this in the business press now, whether or not you are right. In theory, it's NOT taxpayer money, it's a tax on all the other banks.
The thing is, it's not possible to scale it up. That is, fine, two reasonably-sized banks in one state were -- let's say, rescued. At least their depositors were: their staff and board, of course, are gone with the wind.
But suppose there is another failure cascade, like in 2008? Would there be another 2008-style bailout? Probably, and this is what Varney and a guest said this morning on Fox Business: because what is the alternative? We do sort of need, as a country ----------- money. We need a money system. There are two obvious ways that could collapse (and several more that take a little more thought, like hyperinflation, but never mind the scifi) --- a failure cascade like what is hopefully not going on today, or a cyberattack collapse, which I keep expecting, but that's just me.
I note that the system thinkers in the business press and TV are now considering all this. If the financial system CAN be bailed out (if the big banks went, could it??) it should be, and that's what they decided a couple times before. FDR, the 1932 bank holidays and FDIC insurances, and the 2008 Bailout.
Wrong. But you knew that already, just playing the troll, aren't you?The economy is strong whether you like it or not. Banks fail even in good times. Trump has declared bankruptcy twice so even Republicans know something about bankruptcy.
www.foxbusiness.com
PJMedia isn't a credible source. Any blogger can post bullshit there.
I don't think so. HUGE discussion of this in the business press now, whether or not you are right. In theory, it's NOT taxpayer money, it's a tax on all the other banks.
