I would suppose that if I said that the possible upcoming collapse of the banking system is the fault of President Biden, you would just refer to me as a partisan yokel. Nonetheless, just follow my logical thinking, and then tell me what you think.
First, we all are probably aware that in the last few months there has been the collapse of three banks (Silicon Valley Bank, Signature Bank, and First Republic Bank). Those in the know are projecting that other banks will potentially follow suit.
From Breitbart Business Digest:
| After the demise of Silicon Valley Bank and Signature Bank in March, a study on the fragility of the U.S. banking system found that 186 more banks are at risk of failure.Banks are failing because the Federal Reserve’s aggressive interest rate hikes to tamp down inflation have eroded the value of bank assets such as government bonds, mortgage-backed securities, and other interest-rate-sensitive assets. |
Okay, so basically the banks are failing because of the Fed’s aggressive interest rate increases that are being made in order to attempt to control inflation. I will surmise that there are very few among us that have not felt the ravages of the current bout of inflation. I doubt whether President Joe has suffered the pain that is part and parcel of severe inflation, and I also am pretty sure that President Joe does not have a clue that he and his policies have been major factors in causing this inflation. “Build Back Better” has added trillions in government spending, and anyone who has even a passing knowledge of economics is aware what how this type of spending can lead to inflation.
But even before “Build Back Better” … in fact on President Joe’s first day in office, he stared the inflation ball rolling by canceling the Keystone Pipeline, and he followed up with his various policies to limit the our supply of energy. Again, Econ 101 … when you limit the supply of something, the price of that thing goes up. As the price of oil and gas went up, just about the price of everything went up, and when the price of everything goes up … tah-dah we have uncontrolled inflation.
OMG! By using simple logic, I have just proven that President Joe is the cause of the potential upcoming collapse of our banking system.
Furthermore there are rumblings that there will be more of this banking collapse.
From Epoch Times:
Weiss Ratings is now warning that 4,243 U.S. banks and credit unions are vulnerable to fail. Weiss Ratings—the nation’s only independent ratings agency that assesses the safety and risks of U.S. banks and credit unions—has now issued a red warning flag for 1,210 institutions that are at risk for imminent failure. In addition, 3,043 were issued a yellow warning flag; in total, 45 percent of all banks and credit unions in the United States have been deemed vulnerable.
Biden has to be hoping that there are no further bank failures before the next election … remember that logically speaking the whole mess is his fault!
7/15/23
californiacontrarian