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Rebel Capitalist News

News: Is Social Media Triggering A Global Financial Crisis?

Rebel Capitalist News

George Gammon

Business, Investing

4.71.1K Ratings

🗓️ 28 March 2023

⏱️ 12 minutes

🧾️ Download transcript

Summary

The Rebel Capitalist helps YOU learn more about Macro, Investing, Entrepreneurship AND Personal Freedom.

Transcript

Click on a timestamp to play from that location

0:00.0

Hello fellow rebel capitalists hope you're well. The question is social media going to trigger or

0:07.2

maybe it's triggering right now a global financial crisis. Let's get right into this article. Global Financial Crisis. Crisis.

0:13.0

Let's get right into this article from

0:15.0

C and B.C. and try to answer this really important question

0:20.0

because I know the crisis with Silicon Valley Bank and a few of these

0:24.5

regionals a lot of the blame is being put on to social media sites like

0:29.9

Twitter. Let's get into this see and B.C. article, dive into it, and then try to connect some dots.

0:36.7

Title, the first bank crisis of the Twitter generation.

0:41.4

The pressure on banks is very different from 2008.

0:47.0

And I think you can right off the bat understand what their argument is going to be.

0:52.0

Well, now that information spread so quickly, we is going to be. Well now that information

0:53.1

spread so quickly we're going to get all of these bank runs because as soon as

0:58.0

there's some fake news or some misinformation or disinformation put out on Twitter, then everyone's going to go down to the local bank and they're going to move their deposits over to Bank of America or whatever they're going to do and that bank is going to go and

1:13.9

completely collapse and therefore this is a big problem and I haven't read the

1:18.5

article but I'm assuming they're going to conclude by saying they're going to conclude by insinuating that we need to have some sort of, the government needs to control this.

1:30.0

Like we need to have some sort of moderation of speech we need to have you know free

1:35.6

speech is a bad thing here we've got to and Twitter is right at the heart of

1:39.8

this but but let's before I get that, let's read the key talking points

1:44.6

and then figure out exactly what the thrust of this article is.

1:47.8

They say, this is the first banking crisis

1:50.1

of the Twitter generation, Paul Donovan,

1:52.4

chief economist at USB global

...

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