Article

2023-05-03 Economy

Banking crisis: the US economy is suffocating without an influx of new money

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Posted by badanov 2023-05-03 00:00|| || Front Page|| [17 views ] Top

#1
Regional banks plunge in value by up to 45% as shockwaves from First Republic's collapse continues to reverberate

Posted by Skidmark 2023-05-03 06:27|| 2023-05-03 06:27|| Front Page Top

#2 Apple’s high-yield savings account that offers 10 times more interest than the average bank draws in nearly $1 billion deposits in first four days - should you switch?

Posted by Skidmark 2023-05-03 06:34|| 2023-05-03 06:34|| Front Page Top

#3 Morgan Stanley is cutting nearly 5% of its workforce - about 3,000 jobs, with bankers and traders impacted the most - as post-pandemic slump drags on across Wall Street

Posted by Skidmark 2023-05-03 07:37|| 2023-05-03 07:37|| Front Page Top

#4 Combine this with the boomers at the tail end of mass retirement and their liquid assets and stocks will be pulled into retirement funds and not available for investment. We are gonna have high inflation of 7-10% for the next decade.

Posted by DarthVader 2023-05-03 11:43|| 2023-05-03 11:43|| Front Page Top

#5 Meanwhile the US Treasury just reported it will pay 5.274% on the 13 week bill to be issued tomorrow. Oddly enough the 4 week bill is only paying 3.905%. Unless you need to access all your money all the time, TreasuryDirect beats all the banks for this kind of loan.

Posted by Big Cloluter7564 2023-05-03 16:33|| 2023-05-03 16:33|| Front Page Top

#6 Banks consider offering depositors much higher interest rates to attract 'new money'?

Posted by Procopius2k 2023-05-03 17:46|| 2023-05-03 17:46|| Front Page Top

#7 I bank at a small Christian denominational credit union and a couple of socks in the sock drawer.

Posted by Slats Snore5077 2023-05-03 19:57|| 2023-05-03 19:57|| Front Page Top

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