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“Whenever you find yourself on the side of the majority, it is time to reform (or pause and reflect).”
― Mark Twain
Subscriber Comments
The Federal Reserve spent the afternoon answering softball (easy) questions regarding the economy and interest rates, but behind the scenes, the ongoing #bankingcrisis has not been resolved. It's getting worse, even though, no one is talking about it. Regional bank deposits are approaching 10% of total deposits. This is significantly below their all-time high north of 20%. These banks are highly leveraged, and offer minimal interest on short-term accounts.
While the pause may stem the outflows temporarily, it will not fix the problem. Infinite spending and war means inflation is not dead. Ignore the CPI. It is broken. The real cost of living is 16-20%. The idea the prices will drop to 2% within a war backdrop is pure delusion.
Banking Deposits As A % of Total
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