Video Credit- Morris Invest YouTube
Ok, so anyone remember 2008? The banks were in trouble, and we needed to approve a $800 billion bailout. Congress and lobbyists warned that without an infusion of almost $1 trillion liquidity would dry up and the world would stop.
Yes, it has happened again. Some 15-years later after all the ZIRP and quantitative easing it's back. We never healed from 2008, and instead we bailed out the cancerous banks and now we are back where we started.
This time, banks bought bonds that they are underwater on, are holding commerical leases that will be abandoned and are starring into an abyss of foreclosures and defaults. Credit cards have a 20+ Percent APR and the people cannot even get affordable insurance. Shit is going to start breaking because it was assumed rates would be cut by JPOW, but that probably won't happen until June if at all.
Corruption and greed have done it again. I remember how bad 2008 was, and this could be worse. The bailout required to cover this would be at least $800 billion for the bad bonds and trillions more for the rest. This is a mess, especially as the national debt increases by $1 trillion every 100 days. And don't go telling me about how this much debt is ok because a country isn't like a household or a business budget. It's similar, except we get taxed to cover this.
Good luck, Wallstreet as Mainstreet gets hit hard by all this. Remember that this is when and how Bitcoin was born.