Bank Run Watch 2023 after Silicon Valley Bank shutdown - Over 97% of SVB's assets were not FDIC insured

LurkTrawl said:
You know what's more annoying than someone predicting a terrible outcome out of something small?

A person constantly reaffirming their own insecurity of the future through insistence that nothing has, does, or ever will happen that might cause upset on a large scale. Especially in a situation like this where the speculation that something terrible might happen is actually warranted for once.
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dooming is fucking retarded
 
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I was at a seminar recently that had an economic presentation from one of the big global consulting firms by their head economic consultant or whatever the fuck. This person was full on optimism - inflation is dropping, interest rates are going to drop and stabilise, we'll start to see economic growth soon, banking sector is fine etc. etc. All I could think was "what the fuck is this dude smoking and can I have some".

I don't necessarily think there will be a full on collapse but I don't have a super optimistic outlook either.

I liquidated pretty much everything I had, took a bit of a hit selling when I did but fuck it, I'm using the funds to wipe out my mortgage. Whatever happens I will at least have a roof over my head thats mine. If there is a market bloodbath and recession I'll slowly buy back in with the spare cash I'll have from not having to make a monthly mortgage payment.
 
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Pissmaster said:
im afraid of big ol' sticky loads fired all over the place every time you see red on a waterfall chart and you scream "THIS IS IT KIWIS WE'RE ALL GONNA DIE TIME TO HIDE OUT IN YOU'RE BUNKERS AND EAT YOUR RICE-A-RONI WHEN THE BOMBS GO OFF ANY MINUTE NOW!!!!!!!!!!"
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Point to where in this thread I've done that.

Your goon is showing. It's embarrassing.
Stasi said:
I don't necessarily think there will be a full on collapse but I don't have a super optimistic outlook either.

I liquidated pretty much everything I had, took a bit of a hit selling when I did but fuck it, I'm using the funds to wipe out my mortgage. Whatever happens I will at least have a roof over my head thats mine. If there is a market bloodbath and recession I'll slowly buy back in with the spare cash I'll have from not having to make a monthly mortgage payment.
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I'm assuming it'll be another 2008, which having lived through that, I'm already sort of prepared for and don't have any real reason to panic. That said I feel for anybody who's going to be trying to get a house in the next few years with how things are looking atm.
 
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Stasi said:
This person was full on optimism - inflation is dropping, interest rates are going to drop and stabilise, we'll start to see economic growth soon, banking sector is fine etc.
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THIS, THIS RIGHT FUCKING HERE. YOU DESERVE TO FUCKING CRASH IF YOU NEED FREE MONEY TO STAY AFLOAT ASSWIPE.

God I hate bankers with a fucking passion. Banks are throwing another damn hissy fit because the fed won't loan them free money to invest and fuck the economy up with.
 
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LurkTrawl said:
Point to where in this thread I've done that.
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I can point to where you got offended at me mocking doomers, it's the post where I replied to and said "dooming is fucking retarded"

because it is

dooming is fucking retarded and you'll still be here a year later saying "oh no gas is $4.50 a gallon again were all fucked" but then not actually do anything about it, nor kill yourself, because misery loves company and it feels good to run around in circles screaming
 
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Stasi said:
I was at a seminar recently that had an economic presentation from one of the big global consulting firms by their head economic consultant or whatever the fuck. This person was full on optimism - inflation is dropping, interest rates are going to drop and stabilise, we'll start to see economic growth soon, banking sector is fine etc. etc. All I could think was "what the fuck is this dude smoking and can I have some".

I don't necessarily think there will be a full on collapse but I don't have a super optimistic outlook either.

I liquidated pretty much everything I had, took a bit of a hit selling when I did but fuck it, I'm using the funds to wipe out my mortgage. Whatever happens I will at least have a roof over my head thats mine. If there is a market bloodbath and recession I'll slowly buy back in with the spare cash I'll have from not having to make a monthly mortgage payment.
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Did the people, not the presenter, but the audiences actually believe this? or was it just a ploy that the media could use for the next article/coverage to say shit like 'inflation is transitory'?
 
Stasi said:
This person was full on optimism - inflation is dropping, interest rates are going to drop and stabilise, we'll start to see economic growth soon, banking sector is fine etc. etc. All I could think was "what the fuck is this dude smoking and can I have some".
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Part of what makes a proper economic bubble is FOMO. Even the people who absolutely know it is a bubble are drawn to invest because it is simply free money. The losers will be the ones that leave after it pops, but until it does pop it is mathematically proven that investing is the correct course of action.

As such the dance becomes not "don't fall for the bubble" but "know when to dip". And let me tell you: E V E R Y O N E thinks they will be the ones to quit "at the last second" and no one wants to think they will be holding the bag.
 
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Socrates said:
Funny to watch them keep putting up more and more support beams on this collapsing building, only for them to fail at an exponentially faster pace every time, as the beams have gone from being made of construction grade steel to toothpicks and paste. Wonder how many more months of this we have until things really start to blow the fuck up.
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I mean we might be in failure cascade territory but it is too early to tell.
Wendy's Chili said:
I wonder when everyone will decide to stop putting retarded people in positions of power.
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Every billionaire is a fucking retard. They either inherited their money, got it from their rich parents investing or were already at a place of immense privilege that nobody else has.

They think they are fucking geniuses and miracle workers. Typically they do one thing, where it's not even just then but they steal shit and act like complete sociopaths. Look at Bill Gates. He developed an operating system and hasn't been involved in anything else but masturbating over his billions.

Why the fuck is anyone listening to him about anything? Because he has money. We assume people who have money are smart. When they're all terminally fucking retarded sociopaths doing everything to enrich themselves and blame the poor when it stops working.
 
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Laughter1145 said:
Did the people, not the presenter, but the audiences actually believe this
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Not the people I spoke with to be honest, most seemed to be thinking along the lines of "I'll believe an economic recovery when I see it".
Laughter1145 said:
ploy that the media could use
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This was a behind closed doors corporate event. In my opinion its more a case of stupidity rather than malice or some conspiracy. All these people have the same bullshit humanities degrees, run in the same circles, endlessly quote each other's "analysis" and use the same worthless data/statistics. I think they believe their own bullshit.
 
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Stasi said:
Not the people I spoke with to be honest, most seemed to be thinking along the lines of "I'll believe an economic recovery when I see it".

This was a behind closed doors corporate event. In my opinion its more a case of stupidity rather than malice or some conspiracy. All these people have the same bullshit humanities degrees, run in the same circles, endlessly quote each other's "analysis" and use the same worthless data/statistics. I think they believe their own bullshit.
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I guess they all had a cozy job that allowed them to not critically analyze the current economy? So long as they show up in office on time and do something, they get paid and gives no fuck on whether their pieces/decisions actually are sensible?
 
Someone I know of said that if you use Bank of America you should get your money out now.
Does that affect the BOA credit cards? Are things reversed now and the bank owes cardholders money? CAN it work like that, as a treat?
 
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indomitable snowman said:
What does Berkshire Hathaway actually do besides own other companies?
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In the days of expensive captial they provided incredibly cheap capital to the companies they bought, using that to expand them basically debt free.

The fed printer set interest rates to zero and broke that strategy. Now they just buy aapl like any other mutual fund.
 
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FatalTater said:
Someone I know of said that if you use Bank of America you should get your money out now.
Does that affect the BOA credit cards? Are things reversed now and the bank owes cardholders money? CAN it work like that, as a treat?
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No. If the bank goes tits up someone ends up with your credit card debt (it’s a bank asset) and they will collect eventually

In the old days some small banks going fuckfuck would result in some loans being lost. This is very rare now.
 
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