Banking Collapse

Jim Cramer @jimcramer of CNBC was telling people to buy SVB just a month ago. How is this guy still on TV? He has been lying to his viewers for years losing them hundred of millions$ & yet still promoted as an “expert” pic.twitter.com/5FOwre0F1q

— Melissa Tate (@TheRightMelissa) March 11, 2023

Open thread.

I don’t have an opinion on this.

Years ago, I was following the 2008 financial crisis. I was excited, staying up late, drinking a ton of caffeine and watching the collapse of Bear Stearns and Lehman Brothers. I got my hopes up that the financial system might be on the verge of collapse. Wall Street bankers were jumping off buildings.

Anyway, I made the fatal mistake of telling my normie parents how happy and relieved I was that the stock market was collapsing. They thought I had gone insane and took me to the hospital. When I woke up, I had been pumped up on antipsychotic drugs. I couldn’t think straight for months. It was all a huge misunderstanding because my parents didn’t understand my political views.

Fifteen years later, it is my dad who has been on YouTube and who is now retired and getting redpilled about how the system operates. He wants to discuss all the ins and outs of what is going on with credit default swaps and Silicon Valley Bank. I just shake my head, laugh and tell him that I haven’t followed it. I tell him that this time he is going insane and that I am going to have to put him in the loony bin.

Note: Before I could even gather my thoughts to write about this, Joe Biden and the federal government were already riding to the rescue.