It has happened Crunch, 167 year old bank CS is no more, 9000 will be out of work. Central banks in Europe and the US are actively working to diffuse this crisis. Basically, they are using a new form of quantitative easing to keep cash flowing thru the world markets and avoid a new credit crunch. I don’t like the interference but I understand it.
I still don’t see a wide national economic collapse being ignited by the recent bank failures. However, some pain WILL be coming to tech dominated hubs in Seattle, Boise, San Francisco, etc. these high cost western markets were already reeling from the Fed fight against inflation. It’s about to get worse. Mortgage rates are dropping big again this week. But it won’t be enough to continue the reversal of home prices in these
markets where elevated prices have been supported by high wages.This recession needs widespread layoffs to get bigger. Like a snowball. I’m still betting it happens. The Fed has the Housing market on its knees ready to pull the trigger.
To put today's FTSE 100 fall into perspective, the market dropped more than it did either after the mini-budget or the invasion of Ukraine. Amid the travails of Credit Suisse, fears about the financial system are getting very serious...
It has happened Crunch, 167 year old bank CS is no more, 9000 will be out of work. Central banks in Europe and the US are actively working to diffuse this crisis. Basically, they are using a new form of quantitative easing to keep cash flowing thru the world markets and avoid a new credit crunch. I don’t like the interference but I understand it.
I still don’t see a wide national economic collapse being ignited by the recent bank failures. However, some pain WILL be coming to tech dominated hubs in Seattle, Boise, San Francisco, etc. these high cost western markets were already reeling from the Fed fight against inflation. It’s about to get worse. Mortgage rates are dropping big again this week. But it won’t be enough to continue the reversal of home prices in these
markets where elevated prices have been supported by high wages.This recession needs widespread layoffs to get bigger. Like a snowball. I’m still betting it happens. The Fed has the Housing market on its knees ready to pull the trigger.
To put today's FTSE 100 fall into perspective, the market dropped more than it did either after the mini-budget or the invasion of Ukraine. Amid the travails of Credit Suisse, fears about the financial system are getting very serious...