It's here, a new worldwide bank problem
Swiss bank Credit Swiss is getting more and more into trouble
Swiss bank Credit Swiss is getting more and more into trouble. The Swiss government is being pressured to intervene as stock plummets.
Apparently, there is a total EU bank bet by investors that some shares will go down dramatically.
And if we know something from the history of recessions, a problem from the USA that spills into the EU is a global problem. Add the Ukraine-Russian conflict and sanctions, and we have a new recipe for financial disaster.
How much of a headache it will cause us is yet unknown. But you know what they say. Good money is made in the time of crisis. Because the crisis is an excellent opportunity because of market imbalance.
Those who should be scared act brave, and those who should be bold act nervous. We will see small investors grab their stocks, deposit, bonds, and exit, stuff will go down, and big players will take the cream.
On a side note, Blackstone CEO warned that the US bank crisis is far from over. Well, at least somebody said it loud and clear. But then again, he is one of the big players, wanting to eat that recession cream of stock profits.
Biden, on the other hand, wants to keep the illusion that everything is perfect. Even if it means that the FED will print money. And add inflation to the recession. What is that called? Is it depression?
Hold on to your braces because here we go on an emotional, financial, social, and political rollercoaster. God help us all.