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The John Batchelor Show

#MrMarket: We can't know if the banking crisis is over until long afterward. Brett Arends, Marketwatch

The John Batchelor Show

John Batchelor

Society & Culture, Arts, News, Books

4.52.8K Ratings

🗓️ 28 April 2023

⏱️ 10 minutes

🧾️ Download transcript

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@Batchelorshow


#MrMarket: We can't know if the banking crisis is over until long afterward. Brett Arends, Marketwatch

https://www.msn.com/en-us/money/markets/the-banking-crisis-is-having-a-slow-burn-impact-on-the-economy/ar-AA1akDZo


Transcript

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0:00.0

There it is, sat round doing nothing, that old lump sum.

0:03.6

But what if you could get it moving with a Shawbrook savings account?

0:07.1

Suddenly, it's looking healthier. It finally got off its AER.

0:11.6

So stand up and take notice of our notice accounts, bond with our fixed rate bonds,

0:16.0

or take it easy with easy access.

0:18.2

Safe Smarter, not harder, with Shawbrook.

0:20.9

Spark your interest today at Shawbrook.co.uk.

0:24.3

Shawbrook bank is authorized by the Prudential Regulation Authority

0:27.4

and regulated by the FCA and PLA.

0:35.1

This is CBSI in the world. I'm John Bachelot.

0:38.3

The markets responding to news.

0:41.0

The first quarter is announced first pass at 1.1% GDP, not a recession.

0:47.5

At the same time, the markets were pleased, but not entirely jubilant,

0:52.5

because they're watching for the Federal Reserve Monetary Policy.

0:55.8

However, hanging over all this is this banking crisis of some weeks past,

1:01.5

where people wanted their cash. They wanted to move their cash out of banks,

1:05.7

such as Silicon Valley Bank, Signature Bank, and First Republic Bank.

1:11.5

Billions of dollars of cash flowing out.

1:14.2

Which reminds me of a bank run.

1:17.2

That's old fashioned talk for when people line up outside of a trust bank in New York or

1:24.0

a savings bank or a Morgan bank and say, give me my cash. I don't care how important you are.

1:29.5

I want my cash in my pocket and they take it home and they keep it in a box.

...

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