Saturday, March 18, 2023

New study is a fearful one as it discloses that 186 banks face the same threat of collapse

 The filing of bankruptcy by SVB has sent shivers through out the Feds
Faced the facts that when yields go up the value of the principal is shed
If banks holding long term federal notes could hold them to maturity
We would have little doubt that the banks were acting with a strong sense of security
But when depositors are spooked with paper losses as the bonds’ values sink
And bank financials one can only watch waves of fresh seas of red ink
Depositors will be making a sprint to the banks
Before the assets collapse into the tank
When that lemming like behavior corrupts depositors’ minds
Our banking system is heading toward a disastrous bind
Biden seduced us and lied to us that inflation was transitory and would not last
Yet prices continue to rise fanned by the flames of stimuli payments in the not too distant past
Biden is damned if he does but as long as he  spends trillions from the printing press
The beast of inflation will continue to be with us causing citizens on fixed incomes a whole lot of distress
Do not be surprised to see wheel barrows loaded with paper trying to get to the stores
Before another daily round of price increases raises the prices of goods once more
The printing presses must be slowed down or even stopped
Ere inflation will without any doubt cause our recovery to flop

© 3/18/2023 Michael P. Ridley aka The Alaskanpoet

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