SVB Failed! Silicon Valley Bank.

[AzScorpion]

This is why Ive always said the stock market isn't a good indication of the state of the economy. There's to many ways to manipulate it and most are playing with other people's money so there's little risk for them.

U.S. economy headed for trouble, leading index signals

https://www.morningstar.com/news/ma...nomy-headed-for-trouble-leading-index-signals

Leading economic index falls 0.3% in February

The numbers: The U.S. leading economic index fell 0.3% in February -- the 11th decline in a row -- and continued to signal an upcoming recession.

Economists polled by The Wall Street Journal had forecast a 0.4% drop.

The LEI is a gauge of 10 indicators designed to show whether the economy is getting better or worse. The report is published by the nonprofit Conference Board

Big picture: The economy has slowed due to the end of pandemic stimulus and the effects of high inflation, which has forced the Federal Reserve to raise interest rates.

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[Fordup]

This is why Ive always said the stock market isn't a good indication of the state of the economy. There's to many ways to manipulate it and most are playing with other people's money so there's little risk for them.

U.S. economy headed for trouble, leading index signals

https://www.morningstar.com/news/ma...nomy-headed-for-trouble-leading-index-signals

This is one time when the people will actually control what happens next. The markets are funny money that usually is not controllable. Bank accounts are real money and people are getting nervous that we are being lied to about the real facts. Lies have become the norm lately and people are smarting up. Now that the 250k FDIC limit has been reset for any additional banks we know how there are political handouts to select groups. A bird in the hand is worth 100 in the bush at times.

 

[dtech]

This is why Ive always said the stock market isn't a good indication of the state of the economy. There's to many ways to manipulate it and most are playing with other people's money so there's little risk for them.

U.S. economy headed for trouble, leading index signals

https://www.morningstar.com/news/ma...nomy-headed-for-trouble-leading-index-signals

How about Ford's stock - down 5% today. That the US economy is headed for trouble kind of yesterday's news or last year's news. Once stimulus spending dried up and interest rates had to be raised - well the parties over. Should have been better managed but it wasn't.
If one delves deeply into stock market valuations and other measurements - there were signs of a bubble a more than a year back and conservative analysts sounded those warnings but few listen to them. Unfortunately the gov seems to have exhausted it's ability to prop up the economy.
But it's certainly not all gloom and doom, look at many other countries and it's much worse, the recent financial crisis in Great Britain resulted in an inflow of monies to the US treasury from investors seeking stability.
Edit to say gov exhausted it's options to prop up the economy because there is always the call for deep tax cuts - good if accompanied by spending cuts but that hasn't proven to be the case in the past when taxes were reduced.

 

[dtech]

Financial news delivered specifically for Dave - I normally post good EV news in a futile attempt to swim against the current:

Volkswagen (VWAGY) showed plans to debut its first EV for the masses, priced at $26,000. Shares fell 4% at noon.

 

[Fordup]

Financial news delivered specifically for Dave - I normally post good EV news in a futile attempt to swim against the current:

Volkswagen (VWAGY) showed plans to debut its first EV for the masses, priced at $26,000. Shares fell 4% at noon.

I read that version will not be available in America.

 

[AzScorpion]

They didn't learn their lesson with houses back in '08 and now it's happening with cars. These two (father & son) have good podcasts relating to the auto industry.

 

[Fordup]

It's all aligning now to destroy smaller banks and switch to digital currency starting July.
https://www.cnbc.com/2023/03/15/long-awaited-fed-digital-payment-system-to-launch-in-july.html

Now they are also siezing cash
https://www.foxnews.com/us/fbi-took-life-savings-now-fighting-help-others-get-back

 

[AzScorpion]

It's all aligning now to destroy smaller banks and switch to digital currency starting July.
https://www.cnbc.com/2023/03/15/long-awaited-fed-digital-payment-system-to-launch-in-july.html

The digital payments are only going to replace the checks the government sends out, like online banking we have now. When they finally did this for us that are self employed it made it much easier to pay your quarterly taxes. Up until a few years ago you still had to mail a check (both state and federal) to them every quarter but now I can do this all online which is super convenient. I don't think I write more than 2-3 checks a year when before I'd spend half my Thursday night writing checks for both personal and business and no more stamps.

The system will allow bill payments, money transfers such as paychecks and disbursements from the government, as well as a host of other consumer activities to move more rapidly and at lower cost, according to the program’s goals.

 

[Fordup]

The digital payments are only going to replace the checks the government sends out, like online banking we have now. When they finally did this for us that are self employed it made it much easier to pay your quarterly taxes. Up until a few years ago you still had to mail a check (both state and federal) to them every quarter but now I can do this all online which is super convenient. I don't think I write more than 2-3 checks a year when before I'd spend half my Thursday night writing checks for both personal and business and no more stamps.

I know where there is a bridge for sale.

 

[dtech]

El-erian was making the rounds on some of the news channel, has some interesting things to say about the Fed's actions or lack of. He has long predicted that loose global monetary policies face a day of reckoning , I see a growing numbers of folks including members of Congress have the Fed in their crosshairs. El-erian was the former CEO of PIMCO and now chief economist at Allianz who I don't think has banking operations , mostly asset mgmt and insurance.

https://www.foxnews.com/video/6322911792112

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