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Hey everybody, I'm doing another live podcast today following the decision by the Federal

Reserve announced.

Earlier today, a couple hours ago, to raise interest rates by 25 basis points.

Now on my last podcast, I speculated that maybe the Fed would not raise interest rates, but

I guess it was under too much pressure to try to save face and continue with the pretense

that it's able to fight inflation and that it's committed to returning inflation to 2%.

And so it didn't want to seem as if it had veered from that goal, so despite the current

financial crisis.

And again, nobody wants to call this a financial crisis.

They want to call it a banking crisis if they even want to call it a crisis.

But what was the 2008 financial crisis?

It was a banking crisis.

It was about banks failing because they had bad loans.

This is also a financial crisis because it's starting in the banking sector.

I think everybody is reluctant to call a spade a spade here.

They don't want to say this is a financial crisis because they don't want to draw any connections

or comparisons to what happened in 2008.

After all, that's not supposed to happen again, right?

...