Financial Turmoil Abound

[arakboss]

Car debt piles up as more Americans struggle to make payments

Car repossessions are on the rise as more consumers fall behind on their payments amid an inflation crisis that has squeezed millions of U.S. households.

www.foxbusiness.com

 

[gryghin]

$1000.00 a month payments for a car?!?

I'm glad that I grew up poor... it taught me to save up for something I wanted.

I'm hoping my kids learned from my example.

 

[arakboss]

Millennials are sinking under the weight of their debts, adding a record $3.8 trillion to the pile last quarter. Here’s what’s driving that — plus 3 tips to get your head above water

There's room for everyone on this raft.

finance.yahoo.com

 

[arakboss]

Sell, sell, sell.

Stock market will crash in 60 days, best-selling author on Lehman collapse warns

Market risk indicators are signaling one of the highest probabilities of a crash in the next 60 days. The Bear Traps report founder advises on how to allocate your capital.

www.foxbusiness.com

 

[Bam]

People are living paycheck to paycheck with mortgages and car loans they can't afford. Their savings have been drained and the credit cards are maxed out.

The end is near.

 

[arakboss]

People are living paycheck to paycheck with mortgages and car loans they can't afford. Their savings have been drained and the credit cards are maxed out.

The end is near.

The PPP has turned into the P2P.

 

[arakboss]

Hope nobody here got caught up Silicon Valley Bank fiasco.

 

[gryghin]

Hope nobody here got caught up Silicon Valley Bank fiasco.

I just read the email from First Technology Federal Credit Union. That have a good structure and can absorb the changes due to inflation.

Thanks for sharing this. I wasn't aware it happened.

Here's how the second-biggest bank collapse in U.S. history happened in just 48 hours

As dust begins to settle on the biggest American bank failure since 2008, members of the VC community lament the role other investors played in SVB's demise.

www.cnbc.com

 

[arakboss]

I just read the email from First Technology Federal Credit Union. That have a good structure and can absorb the changes due to inflation.

Thanks for sharing this. I wasn't aware it happened.

Here's how the second-biggest bank collapse in U.S. history happened in just 48 hours

As dust begins to settle on the biggest American bank failure since 2008, members of the VC community lament the role other investors played in SVB's demise.

www.cnbc.com

It could spread, especially to institutions that were heavily invested in 2022 treasuries and commerical real estate. I doubt any more banks the size of SVB will fail but regional banks, commerical real estate reits, etc, could be at risk.

The way the fed rate hikes were described the other day on CNBC is scary. The host/guest were describing it like cancer that metastasizes. It could be into next year before the rate hikes spread completely and we start feeling the real impacts. Meanwhile the economy will move along like it has been until we realize we have cancer and it has spread to a stage 4 diagnoses. Then the fed/government will step in with the treatment, rate reductions, stimulus, etc. Rinse and repeat. We have been here before and we will be here again.

There should be good buying opportunites for stock pickers who can get in near the bottom.

 

[jbett98]

The picture of the Brinks armored truck parked out front of the SVB bank is a classic "to little, to late" image.

 

[gryghin]

Anybody up for a game of high-low on the number of banks/credit unions/financial institutions that also go the route of "It's a Wonderful Life"

Customers line up outside First Republic Bank to take their money out

On Saturday, dozens of customers were shown lining up outside of a First Republic Bank in southern California, eager to withdraw their funds in the wake of the collapse of SVB this week.

www.dailymail.co.uk

 

[jayR]

check this out..

youtube

 

[Cavedweller]

A third bank collapsed today, as regulators in NY closed Signature Bank.

Regulators close crypto-focused Signature Bank, citing systemic risk

U.S. regulators on Sunday shut down New York-based Signature Bank in a bid to prevent the spreading banking crisis.

www.cnbc.com

The bastards at SVB sold their stock in the weeks before the closure and paid themselves bonuses 1 day before the collapse. FMTT

 

[Cavedweller]

3,000 tech companies had accounts with SVB. The average account was over $2 million. Only 250K is covered by insurance. The rest of the money is gone. These companies will not be able to make payroll. Their employees may not be able to pay their bills. Can you say "ripple effects?"

 

[Cavedweller]

Hope nobody here got caught up Silicon Valley Bank fiasco.

SVB was a commercial bank. Thousands of small to medium sized businesses, mostly tech oriented, will be clobbered. Reportedly, they did not deal in individual accounts.

 

[arakboss]

SVB was a commercial bank. Thousands of small to medium sized businesses, mostly tech oriented, will be clobbered. Reportedly, they did not deal in individual accounts.

I would be more worried about investors who might have owned shares of SVB.


"What happens to Silicon Valley Bank investors?
They're wiped out. The asset value of the bank itself is zero, and there's essentially no chance of a government bailout for shareholders"

 

[Cavedweller]

3,000 tech companies had accounts with SVB. The average account was over $2 million. Only 250K is covered by insurance. The rest of the money is gone. These companies will not be able to make payroll. Their employees may not be able to pay their bills. Can you say "ripple effects?"

Fed steps in to save the day, will cover deposits. There seems to be an unlimited supply of monopoly money.

3 banks fail in a matter of days and market futures are up. Makes sense to me.

Dow futures jump 250 points as regulators announce backstop of SVB depositors: Live updates

Investors were monitoring developments out of Washington for details on next steps in the Silicon Valley Bank crisis.

www.cnbc.com

 

[bolus]

The FED has 2 choices, save the banks or save to dollar. which will it be?

Dollar endgame theory continues to play out as exactly as stated.

You guys see that SVB CEO sold a bunch of shares 2 weeks before collapse and the execs all gave themselves bonuses walking out the door? You are going to be paying for those bonuses with inflation when the fed starts dropping rates. When you ask yourself "why are eggs $500 a carton" remember it is because you had to pay for those bonuses.

 

[albin25]

HOW OUR FINANCIAL SYSTEM WORKS....
.... Silvergate Bank Version

 

[albin25]

HOW OUR FINANCIAL SYSTEM WORKS....
SVB version