We're all Doomed Thread for 02-MAY-2023

H

HemiHauler

Well-Known Member
David said:
Regional bank stocks tanking today after the 5th major us bank went under last week. If I didn't know better, I would think this is some kind of plan to destroy the smaller banks so in the end, only the major banks rule our lives. Sure would make it easier to roll out that Central Bank Digital Currency (CBDC) they told us would never happen.

Click to expand...

So they are giving up value, back to something close to their 2018 levels,
giving back meteoric growth fueled by ZIRP/QE.

Fed should tighten by at least 200bps at the next meeting and bring the DOW and other market indicators back into this stratosphere. Let’s see how robust these risk management programs are. Sink or swim.

F-ck them.
 
David

David

Opinions are my own...
PREMO Member
HemiHauler said:
Fed should tighten by at least 200bps at the next meeting
Click to expand...

ha ha, I wish! Savers have been deprived of any income for 13 years now, courtesy of our out of control government. Anyway, Fed meets today/tomorrow, and announces tomorrow (5/3). Expect 25 basis points (.25%). Hard to believe many banks still paying near 0%, which is the reason they are losing so many deposits as people seek near 5% in Gov Money Market funds. Vanguard's fund VMFXX is paying 4.77% (4.88% compounded).

I started working in 1983, back when Volker was taming inflation. I was getting double digit interest at what was the Washington Savings Bank in Waldorf. I was socking away every cent I could spare. I have the passbook in file somewhere, I need to pull it out and see what the rates were.
 
Last edited:
LightRoasted

LightRoasted

If I may ...
For your consideration ...

David said:
ha ha, I wish! Savers have been deprived of any income for 13 years now, courtesy of our out of control government. Anyway, Fed meets today/tomorrow, and announces tomorrow (5/3). Expect 25 basis points (.25%). Hard to believe many banks still paying near 0%, which is the reason they are losing so many deposits as people seek near 5% in Gov Money Market funds. Vanguard's fund VMFXX is paying 4.77% (4.88% compounded).

I started working in 1983, back when Volker was taming inflation. I was getting double digit interest at what was the Washington Savings Bank in Waldorf. I was socking away every cent I could spare. I have the passbook in file somewhere, I need to pull it out and see what the rates were.
Click to expand...

Excellent! A perfect example and use of the word "income" in the proper context. Kudos.
 
You must log in or register to reply here.
Top