Comments by mark94 (page 31)

Deposits are leaving community banks and going to the big 4, largely out of concerns about securing their money. When questioned this week whether she would protect deposits at, for example, a regional bank in Oklahoma whose depositors are farmers, Yellen said she wouldn’t.

Incidentally, the $100 Billion, give or take, that will be spent to secure the deposits at Silicon Valley Bank, will go to people like Gavin Newsome and Oprah, and organizations like Vox and Buzzfeed. It’s a who’s who of Democratic donors. Not to mention Chinese account holders. But, yes, Chairman Powell, we need you to fix this inflation problem.

Here’s one specific example. The $7,500 EV credit is about to kill off the automotive industry. It is forcing a transition to electric much more rapidly than it otherwise would. The only car company to survive will be Tesla, which has a cost advantage over its competitors. Tesla is building a mega factory in Mexico ( because regulations allow the credit for vehicles made in North America ) which will produce 2 million electric cars with a price of $25,000 within 2 years. At that point, consumers will have a choice between a $30,000 American-made gas car and a $17,500 ( $25,000 minus $7,500 ) Mexican made electric car. That’s happening right now. We are spending untold billions to kill the American auto industry. All, in the name of climate change. It’s insane. Our government at work.

The underlying issues are government overspending, government over regulation ( especially of energy ), and a break down if the supply chain. We are attempting to fix all this exclusively through monetary policy. That’s impossible. The way to fix all this is to go back to the spending levels we had pre-CoVid, encourage energy production ( drilling, nuclear ), and incentivize bringing manufacturing back to North America. Do all that, and our economic problems would be quickly solved.

As a reminder, Stormy Daniels sued Trump for defamation. She lost, and was ordered to pay his $300,000 in attorney fees. She is Bragg’s star witness.in a misdemeanor criminal case. One that happened 7 years ago. With a 5 year statute of limitation. In a city that doesn’t prosecute many felonies.

The movement made Trump. Remember the Tea Party ? Trump did not create the movement. America First existed before Trump came down the gold escalator, and it will be around long after him.

From catturd “There’s hundreds of videos and pictures of Hunter Biden on his laptop smoking crack, weighing huge amounts of crack, waving around an illegal firearm, and having sex with hundreds of girls who look “extremely” young. There’s also a mile of evidence on his and Joe Biden’s pay for influence schemes with China, Russia, and Ukraine - and I guarantee he hasn’t paid a dime of taxes on his extorted millions. Yet, our rotten FBI and DOJ lead by AG Garland and Christopher Wray haven’t done jack shit because they’re corrupt traitors whose sole purpose seems to be the personal jackboots for the Democrat party.”

“The GA election interference case is way more serious“ The moonbat head juror didn’t treat it seriously. Party with the prosecutor ?

If Republicans are given a choice between voting for a Democrat or voting for Democrat light ( Romney, McCain ), they will just not vote. That’s how Obama was elected. Twice. The only chance Republicans have is to nominate someone who is proudly, boldly pro-American and pro-Freedom. I don’t care if that’s Trump, Desantis, or someone else who is America First. Just don’t nominate some squish who doesn’t stand for anything.

^ Yes, because the cause of all these problems is the policies being pushed by Biden and others on the left. Runaway government spending. Soft on crime. Open borders. Endless war. Crony capitalism. China apologists. Lock downs. Judging people by race, not their character. The only hope we have is to vote in politicians who will establish policies that get us back on track. The attacks on Trump are an attempt to stop this.

Most of the people who support Trump, myself included, support him because he is the standard bearer for the America First Movement. If someone else could reliably and effectively represent this movement, we’d be happy to support that person as well. I think that’s where Trump opponents make their biggest mistake. They think America First is a personality cult. They think if they bring an indictment against Trump, that will put an end to the movement. It won’t. If Trump falls, Desantis can pick up the standard and run with it.

Dodd Frank was also much more burdensome to smaller banks. The big banks could absorb the added compliance cost.

The question has been raised with the Fed, does this your policy is now to guarantee all deposits ? If yes, doesn’t this reward bad/stupid behavior ? If no, how do you justify picking and choosing some banks to be protected and some not ?

So, when you predicted that inflation would drop like a rock, you meant it would be lower in a year or two. And, for making this prediction, you view yourself as an economic genius. Talk about moving the goalpost.

The Fed is at a crossroads. Keep raising rates to fight inflation, triggering a banking crisis, or pause and watch inflation spike.

2008: 25 banks with $373 billion in combined assets failed 2023: 2 banks with $319 billion in combined assets failed

Regional banks will have their ability to make loans severely limited, which will hurt small businesses, which will hurt employment.

US banks have $2 Trillion in hidden, unrealized losses just like SVB. This is a ticking time bomb. As information comes out, depositors will withdraw funds, accelerating each banks collapse. https://www.dailymail.co.uk/news/article-11859149/Assets-banks-worth-2TRILLION-accounts-report-Study.html

moral hazard: The risk that an individual or organization will behave recklessly or immorally when protected from the consequences.

I don’t trust ESG companies for the same reason I wouldn’t hire a plumber who advertised he was the “ honest plumber”. If someone needs to proclaim their virtue, I doubt how real it is.

“I'm sure mark will be moving all his assets to cash in preparation.” I’m always 100% invested. In the long run, that’s always the best choice. No one is smart enough to consistently time the market. You might get lucky once or twice, but trying to time will eventually catch you.

I’ve never bought into the concept of having a balanced portfolio of stocks and bonds. If it’s money that’s needed in the short term, keep it in cash equivalents. If it’s a long term investment, stocks always outperform.

Home prices have dropped significantly in the markets that saw the most appreciation, like Phoenix, Austin, and Boise. But, it’s a game of chicken. Homeowners don’t want to give up their 3% mortgages and buyers are waiting for even lower prices. Who will blink first ?

I’m probably going to buy a new hybrid SUV in the next couple weeks. There’s enough inventory that list price is MSRP. I’ll pay cash and get the, still well equipped, base model. I always buy the base model of a quality vehicle. I find that gives the most bang for the buck.

This episode should kill the insanity of making investment decisions based on Diversity, Equity, and Inclusion. I doubt it will, but it should.