Friday, August 18, 2023

Another trillion-dollar bailout? - Don Surber

Another trillion-dollar bailout? - Don Surber
"CNBC reported, “Fitch warns it may be forced to downgrade dozens of banks, including JPMorgan Chase.”
Downgrading JP Morgan Chase’s credit is a huge alarm because JP Morgan Chase is the bank that bails out the government.
The story said, “A Fitch Ratings analyst warned that the U.S. banking industry has inched closer to another source of turbulence...
Remember the $700 billion TARP Bush and Obama in 2008 threw over the banking meltdown that dropkicked the economy into the goalpost of recession? 
  • The government claims every penny was paid back. Show me the receipts...
But it didn’t work in 2008 and I wonder if 15 years later another trillion-dollar bailout of banks will work...
  • But have no fear. Government printing presses are here. More paper money is all we need. Another trillion should do it...

No comments: