Biden Has No Solution To banking Collapse Crisis
No end in sight to our broken economy
File photo/Joe Biden
The Illinois Republican/ Rick Lopresti, Staff writer
Regardless of our broken financial system, Ukraine still wants their money for their war. Let's face it….that's what got us here.
Because of supporting a proxy war and contributing to climate change funding the United States is now bankrupt. The banks are feeling it.
The American dollar is dead.
In one week three major banks collapsed and the FDIC had to step in to bail them out. Their insurance premiums couldn't cover the losses so now the money is coming from the Treasury. Your taxes.
How did Joe Biden crash our economy in one week and his response to fix it:
1. Pin interest rates at record lows to boost the economy through wasteful spending.
2. Crash the economy anyway by locking everyone into their homes.
3. Boost the economy by printing trillions of dollars and flinging it to the four winds.
4. Hike interest rates to combat the inevitable inflation that you predicted was impossible.·
5. Bail out the banks that fail due to having all their money stuck in long-term, low-yield bonds.
6. You are here.
7. Either cut interest rates to save the banks and send inflation soaring, or hike interest rates to fight inflation and set off a new round of bank failures.
It can't be fixed. Like a bank, you need capital. The U.S. has none. Other countries stopped buying our bonds. The dollar has tanked. Russia is accepting rubles instead of dollars for energy resources.
The markets are unstable because of banking collapse fears that are imminent.
Big banks are buying smaller banks, meaning they are buying their debts as well. For every dollar, they have, it's worth only half. Those bank bonds can't be traded or sold. Soon the bigger banks will crash because of this.
2008 all over again. It's not too big to fail this time!