EPISODE 418: SILICON VALLEY MELTDOWN - US BANKING SYSTEM DOWNGRADED TO NEGATIVE ON BANK RUN FEARS
Human Events Daily with Jack Posobiec
Human Events with Jack Posobiec
4.8 • 5.7K Ratings
🗓️ 14 March 2023
⏱️ 24 minutes
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Summary
On today’s edition of Human Events Daily with Jack Posobiec, Glenn Jacobs, Mayor of Knox County and WWE Hall of Famer, joins to discuss the recent banking collapse of Silicon Valley Bank and the wider implications for Americans and the economy. The duo discuss the US banking system being downgraded to negative following a Moody's report, the importance of price signals, and whether this is a backstop or bailout situation. The discussion delves into the potential implications of the collapse for the wider banking system and the economy, as well as the role of government intervention in such situations. All this and more on today's episode of Human Events Daily!
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Transcript
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| 0:00.0 | These investor service has downgraded the entire US banking system to a negative outlook |
| 0:15.0 | from stable, citing a rapidly deteriorating, operating environment. |
| 0:19.0 | It added that banks with unrealized losses are under particular pressure. |
| 0:22.0 | It was running us now with the latest, as Yahoo Finance is Julie Hyman, Pieduli. |
| 0:25.9 | I mean, I guess on that last point, something I don't know. |
| 0:28.9 | We've all come to realize of the last few days unrealized losses, uncertain bank balance sheets, |
| 0:33.9 | once they are forced to realize those losses become a problem. |
| 0:37.9 | So, just to talk about what exactly is happening here, |
| 0:40.9 | Moody is coming out with this note late last night, |
| 0:43.9 | but it was only just released publicly in the last hour or so. |
| 0:47.9 | The headline on this note, outlook change to negative, |
| 0:50.9 | on rapidly deteriorating, operating environment. |
| 0:54.9 | And the Moody's analyst behind this saying that they made this call on the US banking system |
| 0:59.9 | that there are concerns here, even despite the actions that the federal government took over the weekend |
| 1:06.9 | to try to short up the banking system. |
| 1:08.9 | Well, ladies and gentlemen, welcome aboard today's edition of Human Events Daily powered by Turning Point USA. |
| 1:13.9 | We're very excited to have a special guest on with us to go through all of the insanity |
| 1:19.9 | that we're seeing from the US, the banking system, the stock market being hit, Moody's now degrading the entire US banking system to negative. |
| 1:29.9 | Not just SVB, not just a couple institutions, the entire system citing, and I quote, |
| 1:35.9 | rapidly deteriorating, operating environment. |
| 1:39.9 | And our guest tonight, very excited to have him on. |
| 1:43.9 | He's someone that I've, I followed for several years on economic issues and a lot longer than that on a slightly different issue said, |
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