Welcome to today's edition of the Clay Travis and Bucks Xtons Show Podcast.

Unfortunately, the current administration is on that list.

People that are impressing anybody else anywhere else in the world.

We have Joe Biden trying to prevent bank failure from breaking out right now.

Here is the former FDIC chairman who is out there warning everybody, look, this is going to get worse.

This is going to get bad with this bank failure stuff.

Blicklipton.

I do think there are probably going to be more failures along the way.

The problem we have is the same one we had back in the 1970s.

When the government was out of control with its fiscal policies, its monetary policies, inflation set in banks were just not ready for that or prepared for that.

We wanted to lose some 5,000 banks and thrives during that period.

We won't lose anywhere near that number this time because we don't have that many.

We lost so many. We only have about 4,500 banks today.

It's also not just the US problem as you see today with Credit Suisse.

This is worldwide, this global, everybody has been out of control lately.

Again, I say this with full respect for the fact that I'm not an economist, I don't work in finance, I don't work in banking.

But I do know a lot of people who do, including members of my own family, and I can see how things are going and how a narrative is being constructed one way or the other.

If you were trying to come up with, how do you, and I've asked this question before, what is there to look for that would happen that would send us into a really brutal, grinding economic recession.

A massive global banking crisis would be high on the list.

There are some other things that could pop up. You have a massive oil shock, let's say, energy prices, skyrocketing because this was a big discussion years ago.

The Straits of Hormuz, for example, and 20 to 30% of the world's energy going through this in Iran could use that as an energy choke point.

Stuff like that, sure, that could all create major economic decline.

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