It's the economy, stupid

[bwframe]

It’s my understanding that FDIC is only covering 250m. The recently created Bank Term Funding Program (BTFP) is backstopping depositors and prevents banks from having to sell out of positions to cover withdrawals.

I'm betting you got this right and I oversimplified.

 

[bwillits]

I'm betting you got this right and I oversimplified.

I didn’t mean it to come across that way. I should know some details as I’m in the business and my company has capital with a lot of banks including SVB.

 

[bwframe]

I didn’t mean it to come across that way. I should know some details as I’m in the business and my company has capital with a lot of banks including SVB.

No worries, my friend. I'm in over my head pretty quick, when talking about the nitty gritty of finances.


.

 

[bwframe]

 

[Super Bee]

The new Digital Currency coming in July? Could be fun. Or it could suck a big ****.

 

[Leadeye]

Right.

Bigger question though, running around the money shows today, is if Biden is using the FDIC to make these failed woke banks whole again, does it mean that all banks will be federally insured over the 250K mark also?

Whose money is the bailout money anyway?
I think we know...


.

I suppose the question to ask is if the citizens bank of New Palestine Ohio was in a similar problem, would they get similar treatment?

 

[bwframe]

 

[bwframe]

 

[bwframe]

 

[bwframe]

Kemp suspends Georgia gas tax, declares state of emergency over inflation

Gov. Brian Kemp has declared a state of emergency and suspended Georgia's gas tax to try and battle high levels of inflation.

www.fox5atlanta.com

 

[bobzilla]

Looks like we can create a state of emergency over anything huh? Kinda makes "emergency" meaningless.

 

[bwframe]

Drugstore Downsizing: CVS, Walgreens And Rite Aid To Close Nearly 1,500 Stores

All three of the nation's leading drugstore chains have different reasons for closing stores, but the downsizing prescription is the same.

www.forbes.com

Target, CVS close some stores to combat shoplifting | Fox News Video

FOX Business anchor Cheryl Casone on how crime is affecting major retailers and Americans having less cash than before the coronavirus pandemic

www.foxnews.com

CVS announces up to 900 stores will shutter permanently by 2024

CVS is set to close hundreds of stores across the country - as more stores move towards online sellers amid increases in crime .

www.dailymail.co.uk

 

[actaeon277]

Target closing a few stories.
Funny enough, in all the high crime cities.
None in the 'flyover' area.

MSN

Target to close 9 stores citing theft that threatens workers, shoppers

Target says it's closing nine stores in four states, including one in New York City’s East Harlem neighborhood, and three in the San Francisco Bay Area

abcnews.go.com

MSN

 

[actaeon277]

'Friggin' LIAR!' Truck drivers do not appreciate Pete Buttigieg's pandering roadside pitch

twitchy.com

 

[bwframe]

 

[actaeon277]

And yet, they keep pushing 'Bidenomics', and claim the taxpayers are just stupid for not realizing how great everything is.

 

[Leadeye]

This latest stir in the middle east should jack up the price of gas again soon.

 

[bwframe]

This latest stir in the middle east should jack up the price of gas again soon.

Kinda goes along with the rest of Bidenomics, doesn't it?

 

[Magyars]

Looks like we can create a state of emergency over anything huh? Kinda makes "emergency" meaningless.

When everything is an emergency, then nothing is...the the word loses all meaning.

 

[BigNyaKelly]

McDonald’s is paying $15-$16 an hour. They have handed out money for the past 18 months like Monopoly money. The debt ceiling issue is undecided. China is facing some issues. Is anyone surprised that inflation is becoming a problem?

Honestly 15 bucks an hour isn't enough in most places sadly... Working 40 hours a week and not being able to afford a place to live is pretty crazy. The economy is really crazy right now.