Owe Canada!

[davisdave]

The average 30 year mortgage rate since 1971 is 7.75%. Dont panic, we are still below average.

30-Year Fixed Rate Mortgage Average in the United States

View data of the average interest rate, calculated weekly, of fixed-rate mortgages with a 30-year repayment term.

fred.stlouisfed.org

 

[davisdave]

Didnt take long for things to go boom...

Age of Easy Money | FRONTLINE

High inflation, fear of recession and disruptions — like the collapse of Silicon Valley Bank — how did we get here? FRONTLINE examines the Federal Reserve's policies and the potential consequences of its record pace of interest rate hikes to try and fight inflation.

www.pbs.org

 

[flman]

Didnt take long for things to go boom...

Age of Easy Money | FRONTLINE

High inflation, fear of recession and disruptions — like the collapse of Silicon Valley Bank — how did we get here? FRONTLINE examines the Federal Reserve's policies and the potential consequences of its record pace of interest rate hikes to try and fight inflation.

www.pbs.org

Sure, they have been giving out loans, for practically free for years, and the big corporations, made more acquisitions, and more monopolies. Gotta love fascism.

“Fascism should more appropriately be called Corporatism because it is a merger of state and corporate power”
― Benito Mussolini

 

[davisdave]

"For example, of the roughly $74 billion in total loans Silicon Valley Bank held on its books at year-end, almost half — $34 billion — went to borrowers who used the money to buy or carry securities of their own, regulatory data shows."

You mean like buttcoin, stock buy backs, and NFTs? They deserve to be bailed out! If you have 100mil in a bank and dont BUY private insurance...FU!

The uncommon lending practices behind Silicon Valley Bank’s woes

Of the roughly $74 billion in total loans Silicon Valley Bank held on its books at year-end, almost half went to borrowers who invested the cash in securities of their own.

www.nbcnews.com

 

[davisdave]

I dont understand "rescuing" a "too big to fail" entity by combining it with another "too big to fail" entity. Doesnt this make an even bigger "too big to fail" entity that will be even more likely to bring about systemic cascading destruction at some point in the future? Is Switzerland's tail now wagging the dog?

In 1998, LTCM got a 3.6 billion dollar bail out and that was considered a big deal. 25 years later and the sums are in the 100 billions. In 10 years or so we will probably see the first 1 trillion bail out. That is the problem with debt based growth...you need to create MOAR dollars at an ever increasing rate to keep it from imploding.

https://www.cnn.com/2023/03/23/investing/credit-suisse-ubs-impact-switzerland/index.html