Joe Biden reminded us again yesterday he is impervious to the nation’s most pressing concerns and Twitter CEO Elon Musk took note.
This month’s banking crisis, which saw two major banks, Silicon Valley Bank and Signature Bank, completely collapse, has sparked widespread fears about another 2008 financial calamity.
“My understanding is that the bank, to meet liquidity needs had to sell assets that it expected to hold to maturity and given that the interest rate increases that have occurred since those assets, including treasuries – and government-backed – mortgage-backed securities they had lost market value,” Yellen said.
The Federal Reserve Wednesday raised interest rates again, adding more economic pain for working Americans.
JP Morgan says the United States is likely headed for a recession due to the twin crises.
Martin Kolanovic, the bank’s chief global markets strategist, said the Federal Reserve is “already past the point of no return — a soft landing now looks unlikely, with the airplane in a tailspin (lack of market confidence) and engines about to turn off (bank lending).
But Biden’s primary concern lies not with stopping the ongoing financial crisis and alleviating economic suffering. He just wants to brag about the billions his regime has flushed down the toilet combatting “climate change.”
In my first year in office, we protected more lands and waters than any president since John F. Kennedy.
We’ve also made the largest investment to fight climate change – ever.
Today, we’re building on that momentum by protecting additional natural wonders
Elon Musk noticed Biden’s oblivious tweet. He warned Biden that the banks were failing and nothing was being done.
Umm…The banks are melting.
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