jonb2 Posted March 12, 2023 Share Posted March 12, 2023 Christos, the finance system is so bent and fecking up this world so badly. SVB said to pay out bonuses just before FDIC seizure https://www.axios.com/2023/03/11/silicon-valley-bank-paid-bonuses-fdic Quote Link to comment Share on other sites More sharing options...
henry the king Posted March 12, 2023 Author Share Posted March 12, 2023 Just now, scottbeard said: I don't think jt is really though, for the reason articulated below. It's more like a payday loan. We'll see what happens. The devil is in the detail really. Hard to talk about the bailout when we don't know what it is Quote Link to comment Share on other sites More sharing options...
henry the king Posted March 12, 2023 Author Share Posted March 12, 2023 Just now, jonb2 said: Christos, the finance system is so bent and fecking up this world so badly. SVB said to pay out bonuses just before FDIC seizure https://www.axios.com/2023/03/11/silicon-valley-bank-paid-bonuses-fdic Of course it is. We live in a world where people can post Instagram pictures or kick a ball around or run a failed company and earn more in a day than a skilled professional doing an essential job can earn in a year. We need fundamental change to society not exchanging red and blue tied clones every 10 years. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted March 12, 2023 Share Posted March 12, 2023 26 minutes ago, msi said: Same way certain Billiionaires use lovely Tax Breaks and Bailouts to fund the Rabid Right and single-issue political groups? They are all libertarians until they are hit by higher interest rates. — Nassim Nicholas Taleb (@nntaleb) March 11, 2023 Quote Link to comment Share on other sites More sharing options...
Warlord Posted March 12, 2023 Share Posted March 12, 2023 26 minutes ago, henry the king said: That is almost certainly what the government will do. I count that as a bailout govt has no money to lend so all it can do is print and make inflation worse Quote Link to comment Share on other sites More sharing options...
debtlessmanc Posted March 12, 2023 Share Posted March 12, 2023 1 minute ago, Warlord said: govt has no money to lend so all it can do is print and make inflation worse Indeed i think it is game up, hyperinflation could cause societal collapse.. Quote Link to comment Share on other sites More sharing options...
Warlord Posted March 12, 2023 Share Posted March 12, 2023 1 minute ago, debtlessmanc said: Indeed i think it is game up, hyperinflation could cause societal collapse.. playing with fire Quote Link to comment Share on other sites More sharing options...
Homeless Millionaire Posted March 12, 2023 Share Posted March 12, 2023 (edited) I've said before that the government are attempting to use inflation to curb debt. Playing with fire indeed. Edited March 12, 2023 by Homeless Millionaire Quote Link to comment Share on other sites More sharing options...
Timm Posted March 12, 2023 Share Posted March 12, 2023 3 minutes ago, debtlessmanc said: Indeed i think it is game up, hyperinflation could cause societal collapse.. So could a systemic bank run. Quote Link to comment Share on other sites More sharing options...
henry the king Posted March 12, 2023 Author Share Posted March 12, 2023 3 minutes ago, Homeless Millionaire said: I've said before that the government are attempting to use inflation to curb debt. Playing with fire indeed. The problem is its 10%. If they had 5% inflation they could have got away with it. But at 10% action is demanded. Quote Link to comment Share on other sites More sharing options...
Homeless Millionaire Posted March 12, 2023 Share Posted March 12, 2023 How far are they willing to go? 20%? 100? Parallels with history are tragic. Quote Link to comment Share on other sites More sharing options...
debtlessmanc Posted March 12, 2023 Share Posted March 12, 2023 (edited) 7 minutes ago, Timm said: So could a systemic bank run. I guess it depends who starts the revolution. Many people make the mistake of thinking its the poor and oppressed, in fact historically, it always been the middle classes (russian., french etc). So perhaps protecting their assets somehow will be priority. Edited March 12, 2023 by debtlessmanc Quote Link to comment Share on other sites More sharing options...
TheResponsibleHouseBuyer Posted March 12, 2023 Share Posted March 12, 2023 (edited) 23 minutes ago, henry the king said: Of course it is. We live in a world where people can post Instagram pictures or kick a ball around or run a failed company and earn more in a day than a skilled professional doing an essential job can earn in a year. We need fundamental change to society not exchanging red and blue tied clones every 10 years. or receive charitable donations from onlyfans, youtube, tiktok and twitch..... just to sit at home Edited March 12, 2023 by TheResponsibleHouseBuyer Quote Link to comment Share on other sites More sharing options...
henry the king Posted March 12, 2023 Author Share Posted March 12, 2023 Inflation bought down the Roman Empire. It would bring down our nation if allowed to persist too. They can get away with it currently but if inflation hits 15% and they try to have 0% interest rates then it is game over. Quote Link to comment Share on other sites More sharing options...
Blobsy Posted March 12, 2023 Share Posted March 12, 2023 Just now, henry the king said: Inflation bought down the Roman Empire. It would bring down our nation if allowed to persist too. They can get away with it currently but if inflation hits 15% and they try to have 0% interest rates then it is game over. It is easily that in the real world already. Quote Link to comment Share on other sites More sharing options...
Trampa501 Posted March 12, 2023 Share Posted March 12, 2023 25 minutes ago, henry the king said: Of course it is. We live in a world where people can post Instagram pictures or kick a ball around or run a failed company and earn more in a day than a skilled professional doing an essential job can earn in a year. We need fundamental change to society not exchanging red and blue tied clones every 10 years. I dunno, if they're providing a service (very loose definition) that others are prepared to pay for, then it's part of a market economy. Not as bad as the son or daughter who inherit millions and/or a plush job in the family firm. Just a question of scale really. Quote Link to comment Share on other sites More sharing options...
henry the king Posted March 12, 2023 Author Share Posted March 12, 2023 (edited) 5 minutes ago, Blobsy said: It is easily that in the real world already. Rates have risen though. As I said, if they went to 0% rates whilst inflation was 15% it would bring down society Edited March 12, 2023 by henry the king Quote Link to comment Share on other sites More sharing options...
Wampus Cat Posted March 12, 2023 Share Posted March 12, 2023 Looks like the SVB 'Risk Manager' wasn't spending much time managing risk. Quote Link to comment Share on other sites More sharing options...
henry the king Posted March 12, 2023 Author Share Posted March 12, 2023 3 minutes ago, Trampa501 said: I dunno, if they're providing a service (very loose definition) that others are prepared to pay for, then it's part of a market economy. Not as bad as the son or daughter who inherit millions and/or a plush job in the family firm. Just a question of scale really. That might be fine in the short term, but longer term society cannot survive with that philosophy. People working 8 hours a day to get £30k whilst others get £30k in a minute for an Instagram post is not sustainable. Quote Link to comment Share on other sites More sharing options...
henry the king Posted March 12, 2023 Author Share Posted March 12, 2023 2 minutes ago, Wampus Cat said: Looks like the SVB 'Risk Manager' wasn't spending much time managing risk. A proper recession will expose a lot of people and businesses like this. Only a matter of time now free money is over. Previously they could get away with this, not for long though. Quote Link to comment Share on other sites More sharing options...
Huggy Posted March 12, 2023 Share Posted March 12, 2023 (edited) 11 minutes ago, Wampus Cat said: Looks like the SVB 'Risk Manager' wasn't spending much time managing risk. Looking at their client list, Princess Harry and The Meg, and Oprah in particular, it seems the endless cost of activism to keep them happy does actually have an end. Oh, and it's "Get woke go broke" if I was to be ultra-picky at an otherwise excellent piece. Edited March 12, 2023 by Huggy Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted March 12, 2023 Share Posted March 12, 2023 43 minutes ago, jonb2 said: Christos, the finance system is so bent and fecking up this world so badly. SVB said to pay out bonuses just before FDIC seizure https://www.axios.com/2023/03/11/silicon-valley-bank-paid-bonuses-fdic The top execs also sold huge amounts of their personally-held stock in Feb. Completely coincidental I'm sure .. as the no-doubt thorough and honest investigation that will surely be announced, will prove 🤣🤡 This yet more 'end of Empire' stuff for the US. The elites are looting it while they can. Quote Link to comment Share on other sites More sharing options...
Maghull Mike Posted March 12, 2023 Share Posted March 12, 2023 11 minutes ago, henry the king said: A proper recession will expose a lot of people and businesses like this. Only a matter of time now free money is over. Previously they could get away with this, not for long though. Yes, but "They" dont want one.............Build, Build, BUILD...........Ship in MILLIONS of new people, curtale freedoms everywhere from where you travel to what you eat to what you say............it ends in bloody revolt but these assh0les think they can "Manage" it the way they managed everything else. Mike Quote Link to comment Share on other sites More sharing options...
NoHPCinTheUK Posted March 12, 2023 Share Posted March 12, 2023 17 minutes ago, debtlessmanc said: I guess it depends who starts the revolution. Many people make the mistake of thinking its the poor and oppressed, in fact historically, it always been the middle classes (russian., french etc). So perhaps protecting their assets somehow will be priority. This. Let’s see if this time around the elite will manage to fool us middle class folks again. I pay 50% taxes, capital gains, Vat for this shit show and I have to work on my finances on a monthly basis. Meanwhile, people working in “tech” live a millionaire lifestyle using 0pc money and their cash flows are close to non-existent. 99% of firms out there have the banks right up their ass if the bottom line’s between brackets. They were going through each round of investment and every time they’d burn more and more cash. Until the music stopped and they had to go through vanilla boring banking and talk with a relationship manager on 50k pa who couldn’t support their voracious appetite for cash. Hedge Funds and fooking JPM were taking deposits and they’d buy long term bonds and throw the spread at this show and the housing market. ****** them. No more money for these lunatics living in lalaland who ought to believe that they’re entitled to free meals. ****** them. Quote Link to comment Share on other sites More sharing options...
henry the king Posted March 12, 2023 Author Share Posted March 12, 2023 (edited) 10 minutes ago, Huggy said: Looking at their client list, Princess Harry and The Meg, and Oprah in particular, it seems the endless cost of activism to keep them happy does actually have an end. Oh, and it's "Get woke go broke" if I was to be ultra-picky at an otherwise excellent piece. 99.9% of the money lost in this bank will be woke people. It is tech people in California. The home of woke. And the ideas to invest in it came via word of mouth in these circles. Edited March 12, 2023 by henry the king Quote Link to comment Share on other sites More sharing options...
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