Saturday, October 21, 2023

Is A Financial Crisis Already Here?

 US Banks Are Closing 100s Of Branches And Laying Off 1000s Of Workers

Banks apparently are in trouble. The article posits this is the beginning of the end. Financial collapse looms. Ala the book Patriots, by I forget his name.

What do you think?

Once again, I do not know what to think. I have previously thought a financial collapse was going to happen that very week, then that very month, then that very year.

But it never did, but it looks like things have been gathering speed constantly in the downward direction.

Maybe the november 2024 elections will be the triggering factor.

1 comment:

  1. I worked these banks and mortgage closing at the time. The RTC (?) would hire different companies to come in and audit different aspects of loans. Without the purchaser, big bank, overseas banks and a variety of others the fed's would have owned your mortgage and you would write your checks to Fannie or Freddie. But what the big wigs of the banks did with your dollars was beyond Moronic! When I asked a big wig why they made a loan to a person for $250K more than the appraisal they replied they were loaning "future equity". A home refi for $500K at the very end of the LAX runway. Mold, mildew, no toilet just a bucket and more. They skipped to another country and took the money with them. And on and on. Behind the scene's is nothing the public will ever see or be told about. But most of all they all got sucked back into the bigger banks to wreck their havoc again. So I am also waiting for them to go toe's up.