Bank failure in Philly. Signs of a terrible economy?

bidenomics definition.png
 

The Philadelphia-based bank’s failure comes at a tumultuous time for regional banks, as elevated interest rates have hurt the credit-dependent industry.

Silicon Valley Bank’s collapse sparked a broader crisis last year. Signature Bank’s failure followed days later, and First Republic Bank failed a few weeks after that. In total, there were five bank failures in 2023, according to the FDIC.

Recently, New York Community Bank saw wild swings in its stock price as customers began pulling their cash from the regional lender after it said it had identified “material weakness” in the company’s controls. The bank got a $1 billion equity investment lifeline from investors, including former Treasury Secretary Steven Mnuchin’s firm, Liberty Strategic Capital, in March.
 
Bank Merger and Acquisition.... the sign of the end times.

this parts was never in the Bible.

but it was in the communist manifesto.
 
Could be shitty undisciplined banking practices.
Not really, if anyone reads about it they will see this is under pinned by the terrible commercial real estate market. This is likely going to be the first of many, as commercial real estate isn't going to recover any time soon, if ever.
 
Not really, if anyone reads about it they will see this is under pinned by the terrible commercial real estate market. This is likely going to be the first of many, as commercial real estate isn't going to recover any time soon, if ever.
If only we’d had a successful businessman at the helm during the pandemic, the problems with supply chains and small business failures may not have happened. :dunno:
 
Not really, if anyone reads about it they will see this is under pinned by the terrible commercial real estate market. This is likely going to be the first of many, as commercial real estate isn't going to recover any time soon, if ever.
Ever?


Fuckup hilarious
 
If only we’d had a successful businessman at the helm during the pandemic, the problems with supply chains and small business failures may not have happened. :dunno:
Don't be a total douche. This is about the collapse of commercial real estate because idiot urban mayors, and many governors locked down the country over a little cough. Commerical real estate has never recovered, in fact it's still in a downward spiral. Remote work destroyed the need for immense office space and the massive overhead that created. For decades commerical real estate was one of the safest bets for investment. Not anymore, and loser liberals have added more to the pain than anyone.
 
Not really, if anyone reads about it they will see this is under pinned by the terrible commercial real estate market. This is likely going to be the first of many, as commercial real estate isn't going to recover any time soon, if ever.
It isn't all commercial real estate. It's Big City, dimocrap-run city real estate.

People have had it with the corruption, the lawlessness and dimocraps in general.

And they're voting with their feet.

We're doing fine here in Florida.



Florida was recently named “the best state for construction.” For the fourth time, Florida claimed the top spot in Associated Builders and Contractors’ eighth annual Merit Shop Scorecard, a ranking of all 50 states and the District of Columbia.

Keep putting dimocrap scum in office, morons. We'll see you in bankruptcy court
 
The economy and jobs are looking up; crime is going down; we’re standing up to dictators. Sounds like a steep hill for Trump and MAGA to climb!
Most of the stats I've seen don't show a fall in crime, but it is true that the stats will look better if you stop prosecuting certain actions as crimes.
 
The economy and jobs are looking up; crime is going down; we’re standing up to dictators. Sounds like a steep hill for Trump and MAGA to climb!
Pure propaganda. We lost 1.5 million full time jobs in March. The unemployment number is faked up with government hiring. Inflation is rising again. The 30 year mortgage rate is over 7% again. Gas prices are jacked back up over $5 a gallon here. Credit card defaults are at 20 year highs.
 
Pure propaganda. We lost 1.5 million full time jobs in March. The unemployment number is faked up with government hiring. Inflation is rising again. The 30 year mortgage rate is over 7% again. Gas prices are jacked back up over $5 a gallon here. Credit card defaults are at 20 year highs.

Payday advances are up 30% YOY.

The cult will spin that to be a good thing.

Like Bernie Sanders, “BREAD LINES ARE A GOOD THING.” 🤡
 

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