How’s the stock market?

[casa_mugrienta]

Lo and behold!

"The Fed also announced it will make additional funding available to "to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors."

Looks like de facto QE resumes Monday!

Silicon Valley Bank collapse: Treasury, Fed and FDIC announce steps to ensure deposits will be paid in full

The Fed, Treasury and FDIC said they will make additional funding available to ensure all Silicon Valley Bank deposits, both insured and uninsured, will be paid in full.

abcnews.go.com

 

[hammies]

They had to do that, else there would be multiple bank runs tomorrow..

 

[vanrysss]

I'll take your bet, Jerome is gonna keep full steam ahead on rate hikes.

 

[sdsrfr]

I'll take your bet, Jerome is gonna keep full steam ahead on rate hikes.

Is he still allowed to make new new rules?

 

[casa_mugrienta]

They had to do that, else there would be multiple bank runs tomorrow..

Which is what I said would happen back in March 2022 ...and everyone said I was full of sh!t.

And the FDIC is basically insolvent, so the Fed will start expanding their balance sheet to insure deposits... just like crazy casa said would happen.

This economy is a house of fvckin' cards...a junkie economy shooting the heroin of low interest rates.

I mean, I have no doubts I'm an idiot... which makes it even weirder that so many people don't seem to get it.

EDIT:

I'm also enjoying the big lie that insuring these deposits by expanding the Fed's balance sheet comes "at no cost to the taxpayer". Just shows their utter disdain for the peasantry.

 

[PRCD]

Lo and behold!

"The Fed also announced it will make additional funding available to "to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors."

Looks like de facto QE resumes Monday!

Silicon Valley Bank collapse: Treasury, Fed and FDIC announce steps to ensure deposits will be paid in full

The Fed, Treasury and FDIC said they will make additional funding available to ensure all Silicon Valley Bank deposits, both insured and uninsured, will be paid in full.

abcnews.go.com

Yep.


Sounds like they're doing the same with Barney Frank's bank.

 

[casa_mugrienta]

Yep.
View attachment 150211

Sounds like they're doing the same with Barney Frank's bank.

I bet if a Latino had been nominated to the Fed we would not be in this situation.

Economics and math changes based on your cultural heritage.

They (Latinos) have "insights to share."

Senate pressure mounts on Biden to nominate first Latino to Fed - Roll Call

Several Senate Banking Committee Democrats are pushing President Joe Biden to nominate a Latino for the Federal Reserve Board.

rollcall.com

 

[casa_mugrienta]

Might as well get a real latino...the Argentine one.

Cavallo y Duhalde!

 

[grapedrink]

Maybe offer up a coherent rebuttle?

Yes, I LOL at your constant disasturbation.

Seems odd the you're laughing while twice you've shown you had no idea what the current rate of inflation was, nor the fed funds rate and were operating under the assumption that everything between the two was fine 'n dandy.

Sorry that I looked at a different inflation index and was off by 1.6%

I already explained above. The government will print money to make citizens whole, even if it means tanking the dollar, because maintaining safe banking is what separates us from dictatorships and developing world. Sure, 2% is nowhere near enough to make us all whole but it doesn't need to be. The federal reserve banks already hold roughly half of those deposits.

 

[casa_mugrienta]

I already explained above. The government will print money to make citizens whole, even if it means tanking the dollar, because maintaining safe banking is what separates us from dictatorships and developing world. Sure, 2% is nowhere near enough to make us all whole but it doesn't need to be. The federal reserve banks already hold roughly half of those deposits.

You act as if this is acceptable...

The idea that the banks and the financial system can be completely mismanaged (what you call "safe banking"- WTF? ) - and that you the taxpayer find it OK to shoulder the bill for their negligence.

This isn't "safe banking"... it's giving the nod to YOLO banking.

And you act is if a dollar that tanks would be no big deal and that the rest of the world - already beyond tired at the US manipulation of the global financial system at their expense - is going want to keep financing our government by purchasing our financial products at a loss.

This is pretty assured talk from a guy who didn't know what a negative interest rate was.

 

[Jack-the-Ripper]

Which is what I said would happen back in March 2022 ...and everyone said I was full of sh!t.

And the FDIC is basically insolvent, so the Fed will start expanding their balance sheet to insure deposits... just like crazy casa said would happen.

This economy is a house of fvckin' cards...a junkie economy shooting the heroin of low interest rates.

I mean, I have no doubts I'm an idiot... which makes it even weirder that so many people don't seem to get it.

EDIT:

I'm also enjoying the big lie that insuring these deposits by expanding the Fed's balance sheet comes "at no cost to the taxpayer". Just shows their utter disdain for the peasantry.

If we learned anything today it's that FDIC insurance isn't real and the United States government makes up the rules as it goes along. The rest of the world is paying close attention.

 

[grapedrink]

You act as if this is acceptable...

No, I don't think that. However I do think that it's beyond our control and that we are all along for the ride

The idea that the banks and the financial system can be completely mismanaged (what you call "safe banking"- WTF? ) - and that you the taxpayer find it OK to shoulder the bill for their negligence.

Where did I say it's ok

This isn't "safe banking"... it's giving the nod to YOLO banking.

So what's the alternative that us mere mortals have access to?

And you act is if a dollar that tanks would be no big deal and that the rest of the world -

Again, where did I say that? What I am saying is that it would be better to print dollars to save the banking system, because if we lose the integrity of our banking system than it takes everything else with it.

This is pretty assured talk from a guy who didn't know what a negative interest rate was.

Yawn. Says the guy who thought he was better off with money in a savings account during the epic stock market run through all of last decade, and had to have his hand held through opening a Schwab account

 

[casa_mugrienta]

No, I don't think that. However I do think that it's beyond our control and that we are all along for the ride


Where did I say it's ok


So what's the alternative that us mere mortals have access to?


Again, where did I say that? What I am saying is that it would be better to print dollars to save the banking system, because if we lose the integrity of our banking system than it takes everything else with it.

So in other words, keep the house of cards going, nobody takes responsibility (YOLO banking), the taxpayer shoulders it and QE starts again.

Like @Jack-the-Ripper said, the FDIC is insolvent, this is supposed to send a message of safety?

That we're going to inflate the currency even more because we're so massively in debt the and the FDIC - the agency providing the safety - is broke?

This is third-world style idiocy.

Yawn. Says the guy who thought he was better off with money in a savings account during the epic stock market run through all of last decade, and had to have his hand held through opening a Schwab account

I'll admit 100% - investing and making money in general isn't my thing.

That has nothing to do little do with the very very basics of how an economy works.

 

[Northern_Shores]

Luckily my banks are not in this clownshow. People acting like the world is gonna end over some bank noone has ever heard of before now. If you want to be in the finance world, getting beat up is part of it. It's not fun, but it is part of the job.

I am getting smoked, but listening to grandpa Joe's speech made me feel better

 

[casa_mugrienta]

Luckily my banks are not in this clownshow. People acting like the world is gonna end over some bank noone has ever heard of before now.

Funny, people said the exact same thing at the beginning of the subprime crisis in 2008.

Silicon Valley Bank touts Forbes 'best bank' nod days before becoming largest failure since Great Recession | Fox Business

Days before Silicon Valley Bank collapsed, the bank praised itself for being named onForbes magazine's annual ranking of "America's Best Banks" for five years in a row.

www.foxbusiness.com

 

[Northern_Shores]

Funny, people said the exact same thing at the beginning of the subprime crisis in 2008.

It's all going to sh!t and ****! happy now?

Subprime crisis was just some crap too. Grown men crying their eyes out and thinking the world will end. Did it? No, it came back better than ever. If the sun doesn't rise in the morning there is cause for some concern, other than that we are probably going to be ok.

The oil price got confused and thought it was in the banking business too, but now it came to its senses again

 

[PRCD]

It's all going to sh!t and ****! happy now?

Subprime crisis was just some crap too. Grown men crying their eyes out and thinking the world will end. Did it? No, it came back better than ever.

Better than ever for who? Did homes become more affordable relative to wages? Did the bottom 3/5ths of wage earners see a real increase in wealth? Were public services at least improved for those who make less? Stocks did rise, but I'd like to see this plotted against cost of living.

 

[r32]

Maybe the most interesting day on the stock market in a while.

SIVB got bailed out. Too big to fail.
Feds holding emergency closed-door meeting today.
Goldman-Sachs says Feds will not hike rates as planned, after SIVB collapse.
Regional bank stocks taking big hits.
Savvy investors will buy the dips.
Crypto and gold pumping.
Dow and SPX dumping.

HSBC agrees to pay £1 ($1.21) to rescue UK arm of Silicon Valley Bank after all-night talks

 

[PRCD]

Strong contrary indicator:


Stronger than ever (stoploss):

 

[Northern_Shores]

Better than ever for who? Did homes become more affordable relative to wages? Did the bottom 3/5ths of wage earners see a real increase in wealth? Were public services at least improved for those who make less? Stocks did rise, but I'd like to see this plotted against cost of living.

The communist is strong with this one.