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The David McWilliams Podcast

American Bank Carnage part 2

The David McWilliams Podcast

David McWilliams

News & Politics

4.5692 Ratings

🗓️ 11 May 2023

⏱️ 35 minutes

🧾️ Download transcript

Summary

The American banking system is experiencing a slow grinding crisis. We explore, why this is happening, why now and why the Fed adopted a completely different attitude to the 2023 banking crisis than the 2008 crisis and what this all means for the economy and the way we distribute money around the 21st century economy. And further out, could Apple - the great disrupter - be poised to disrupt Wall Street?

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Transcript

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1:15.2

To understand the economy, you have to understand human nature.

1:23.8

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1:29.6

How are you doing there? It is time for the podcast. This time we're going to talk about two,

1:37.1

not related, but interesting stories. The first one is echoes of 2008.

1:45.3

The US banking system appears to be, as we were saying, John, a couple of weeks ago, going through what looks like a slow puncture.

1:55.0

So there's two ways you can have a blowout, John, as you know.

1:57.3

One is you can have a puncture that just blows out straight away. You've a crash.

2:01.9

And the other one, you've got like a slow puncture. It just takes time in the air, just kind of leaks out of the system.

...

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