"President Joe Biden created the perfect storm for what may become a string of banking busts. In 2021, he lied about inflation, saying it was temporary and "no serious economist" considered it a threat. Yellen and Federal Reserve Chairman Jerome Powell,whose first term was about to expire, went along with Biden and did nothing to bring down prices. It was the single biggest monetary policy mistake in half a century.
Then in March 2022, newly reappointed Powell launched aggressive rate hiking to cure what the Wall Street Journal called "a mess largely of the Fed's own making." As rates rose fast, startup companies could no longer afford to borrow, and insteadstarted withdrawing their bank deposits. Without regulatory intervention, the downfall of SVB was almost a foregone conclusion."
Irish Mike
On Thursday, March 16, 2023 at 6:11:39 AM UTC-7, Irish Mike wrote:Powell, whose first term was about to expire, went along with Biden and did nothing to bring down prices. It was the single biggest monetary policy mistake in half a century.
"President Joe Biden created the perfect storm for what may become a string of banking busts. In 2021, he lied about inflation, saying it was temporary and "no serious economist" considered it a threat. Yellen and Federal Reserve Chairman Jerome
started withdrawing their bank deposits. Without regulatory intervention, the downfall of SVB was almost a foregone conclusion."Then in March 2022, newly reappointed Powell launched aggressive rate hiking to cure what the Wall Street Journal called "a mess largely of the Fed's own making." As rates rose fast, startup companies could no longer afford to borrow, and instead
Irish MikeWhat are we going to do, Mike? I'm really worried. I used to be a fun guy. Now I don't feel like going out to play anymore. I want to stay at home, watch the bad news, and get closer to God.
"President Joe Biden created the perfect storm for what may become a string of banking busts.
Yellen and Federal Reserve Chairman Jerome Powell, whose first term was about to expire, went along with
Biden and did nothing to bring down prices. It was the single biggest monetary policy mistake in half a century.
Then in March 2022, newly reappointed Powell launched aggressive rate hiking to cure what the Wall Street Journal called "a mess largely of the Fed's own making." As rates rose fast, startup companies could no longer afford to borrow, and insteadstarted withdrawing their bank deposits. Without regulatory intervention, the downfall of SVB was almost a foregone conclusion."
Poor Stupid Out Foxed Irish Mick
On Thursday, March 16, 2023 at 9:44:31 AM UTC-4, Paul Popinjay wrote:Powell, whose first term was about to expire, went along with Biden and did nothing to bring down prices. It was the single biggest monetary policy mistake in half a century.
On Thursday, March 16, 2023 at 6:11:39 AM UTC-7, Irish Mike wrote:
"President Joe Biden created the perfect storm for what may become a string of banking busts. In 2021, he lied about inflation, saying it was temporary and "no serious economist" considered it a threat. Yellen and Federal Reserve Chairman Jerome
started withdrawing their bank deposits. Without regulatory intervention, the downfall of SVB was almost a foregone conclusion."Then in March 2022, newly reappointed Powell launched aggressive rate hiking to cure what the Wall Street Journal called "a mess largely of the Fed's own making." As rates rose fast, startup companies could no longer afford to borrow, and instead
.Irish Mike
What are we going to do, Mike? I'm really worried. I used to be a fun guy. Now I don't feel like going
out to play anymore. I want to stay at home, watch the bad news, and get closer to God.
You have every reason to be worried. America currently faces three very real and dangerous problems.
First, Biden is mentally impaired
and is incapable of leading our country.
He has absolutely no idea of what is happening..
the risks we are facing or how to solve the problems that threaten us.
He simply attempts to read the words his handlers put on a teleprompter.
And Biden's weakness is not lost on our enemies.
Second, Biden's handlers are all far left wing radicals
Insane out of control spending,
open borders
bank failures,
Third, Biden does not care about America's problems.
His daily work schedule is a sad joke
And to make matters even worse..
if something were to happen to 80 year old Joe Biden, his back-up is Kamala Harris!
A person so inept, incompetent and completely unqualified
America's only real hope is if the Republicans can win a complete sweep in 2024 –
assuming we can survive until then.
Running Coward Irish Mick
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