Everything Is Fine

 

Joe Biden and his administration told us that everything is fine now that they have bailed out the depositors at Silicon Valley Bank. This was all done of course to calm our fears. Anyone with half a brain knows that there is nothing sustainable about how the West has been operating, particularly the United States. As it turns out, when you create massive systemic risk, and when you redistribute the risk for the moment, that risk will eventually recoil and there will be bank failures, bank runs, economic uncertainty, and probably an outright recession if not a depression.

There are systemic economic problems in our country. If we are going to be honest, we have been living well beyond our means for far too long. The U.S. is carrying ten years’ worth of revenue in debt alone and everyone acts like it doesn’t exist because fiscal responsibility has been thrown out of the window.

A new generation of politics has arrived. The new “modern monetary” crowd believes in printing money into oblivion because they believe there will be no consequences. These people believe that they are entitled to everything and that this is the way of the future.

The left has no intention of slowing any of this down unless something makes them and there is a decent chance that “something” is happening right now. That “something” is in the form of a full financial meltdown, which the government is trying to stave off by effectively taking over the banking system. This is the same government that is already over 30 trillion dollars in debt and is promising that it will guarantee every single deposit for every single American. 

It appears the end goal is to nationalize our banks on a whim and to prevent bank runs from happening that would be the consequence of the masses deciding to storm their banks all at once and pulling out their cash. This is cash that the banks don’t have because they have invested everyone’s money elsewhere to try and make more money.

So for the last week or so, everyone from the Biden administration to the mainstream media experts has carried out a full-fledged operation to try and keep us calm by telling us that the American banking system is “safe, resilient, and well capitalized.” Yes, these are all your most trusted “experts” and have been the most honest people to ever walk the face of the Earth. I’m being sarcastic of course.

Operation “Keep You Calm” did work for at least a brief period when Joe Biden and Janet Yellen guaranteed all deposits for most of their exclusive liberal customer friends of Silicon Valley Bank, where more than 90% of accounts are over $250,000. But Joe Biden’s quick action to help all of his donor buddies calmed nerves for only a matter of hours. Bank stocks that plummeted earlier last week did somewhat recover, but nothing changed. The underlying problems unfortunately still exist.

After 14 years of artificially suppressed interest rates, we have an absolute inflation disaster we’re dealing with. Rates have now skyrocketed in response to inflation and they will most likely have to continue to rise because the current 6% inflation rate is not sustainable. Contrary to what the Biden administration tells you, just because we were at 9% inflation not too long ago, 6% inflation is not good.

These people don’t want you to realize this of course. They want to continue to lie and tell you that the economy is booming and it is doing great. The reason why they keep lying is to keep you and me CALM.

Credit Suisse may be the next bank on the verge of collapse. The stock has plummeted over the last ten years and took a nose dive at the end of last week. It is a much larger and much more important bank than SVB. It has close to a trillion dollars in assets and sits on the global systemically important bank’s list. Most people have never heard of the list. There are only thirty banks in the world that are important enough to be on this list.

Nouriel Roubini, CEO of Roubini Macro Associates, NYU Professor Emeritus, former White House senior economist under U.S. President Clinton, and author of Megathreats, joined BNN Bloomberg to discuss inflation, rate hikes, and the banking system woes and their effects. Roubini, who predicted the financial crash of 2008, says central banks are damned if they raise rates more and damned if they don’t. He adds the U.S. is heading towards a hard landing amid persistent inflation.

So as we can from this conversation, it appears that we are headed toward sustaining inflation and stagnation that may have systemic long-term effects not just here in the United States but globally. If banks like Credit Suisse collapse, there could be a domino effect, possibly causing a global recession.

So the question is, did anyone see this coming? Has anyone looked at the behavior of major economies in the West like the United States and not expected something bad like this to happen?

Many of our experts don’t live in reality. In 2020 American companies donated 83 billion dollars to the Black Lives Matter organization so they could fund LGBTQIA+ activism and buy large mansions. Close to 80 million dollars of that came from Silicon Valley Bank.

Our federal budgets in this country are now more than seven trillion dollars more than the revenue we bring in every year. Yet our federal government has just now implied that it will guarantee every single American bank deposit. This total amount by the way is around 20 trillion dollars.

Nothing in this country suggests any kind of stability. So why would we expect it to be stable? This is why our government betters are screaming that everything is fine. They are lying to you because it’s NOT! Let’s not forget, these are the same people who told us that the high inflation that we everyday Americans deal with daily was transitory. You go to the grocery store and/or the gas pump and tell me, is it transitory? So as we find ourselves in an almost impossible predicament. Either we abandoned the fight against inflation to save our banking system or keep raising interest rates to curve inflation and possibly go into recession. Either of these decisions will most likely lead to a full-blown catastrophe. 

But just know… Everything Is Fine…

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