Silicon Valley Bank MELTDOWN Explained | How to PREPARE for the RECESSION | Jaspreet Singh
Tom Bilyeu's Impact Theory
Impact Theory
4.7 • 5.2K Ratings
🗓️ 13 March 2023
⏱️ 132 minutes
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Summary
Here’s how the second-biggest bank collapse in U.S. history happened in just 48 hours. Silicon Valley Bank closed its doors today. Within 48 hours, a panic induced by the very venture capital community that SVB had served and nurtured ended the bank’s 40-year-run.
For sure you’ve heard that millionaires are made in recessions, but how?
Jaspreet Singh is joining Tom for a second time to get you up to speed on what it takes to get wealthy during any recession. Jaspreet is the Minority Mindset guru and Chief Money Nerd at Minority Mindset Companies. He’s been creating financial education videos on YouTube for years and is breaking down all the reason you don’t have to be scared during a recession
Jaspreet is a voice of reason to remember that recessions are only bad or good in relation to which side of the equation you are on. This is a must watch if you’re trying to find the best route through a recession that has most people nervous and panicked.
Follow Jaspreet Singh:
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Transcript
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| 0:00.0 | In today's episode, Jess Breed Singh and I address the Silicon Valley bank collapse literally as it was |
| 0:05.9 | happening and what that's going to mean for the greater economy, whether we've got a looming |
| 0:10.4 | recession, is there going to be a soft landing and what is going on with the housing crisis? |
| 0:16.4 | I hope you guys enjoy listening to this episode as much as I did recording it. And if you do, |
| 0:23.1 | please be sure to leave a review on the podcast. It really is the best way to help us reach other people. |
| 0:26.5 | I'm Tom Bill You and welcome to Impact Theory. |
| 0:31.1 | I wish that we were talking about better news. |
| 0:35.0 | I saw a video that you created about how the average person doesn't understand |
| 0:40.3 | what we're about to go through. And as we sat down to record this, SVB just got frozen Silicon |
| 0:48.4 | Valley Bank. Looks like there's going to be a tremendous amount of capital lost. And thinking about what I'm |
| 0:56.7 | calling the triangle of doom with interest rates, a slowing economy, and inflation, how does this |
| 1:04.6 | all play together with what just happened? And how does the average person, if they don't |
| 1:08.6 | understand what we're about to go through, how do they protect themselves? |
| 1:12.4 | Yeah, SVB financial is really interesting because it's kind of a byproduct of what you just |
| 1:16.5 | talked about, the triangle of doom. |
| 1:18.3 | So we still have very high inflation. |
| 1:21.9 | And that high inflation is slowing down the economy. |
| 1:24.7 | Now, to fight the high inflation, the Federal Reserve Bank is working to raise |
| 1:27.8 | interest rates. Now, higher interest rates help to cool down inflation, but that also slows down the |
| 1:34.2 | economy. Now, the case of SBB financial in the bank is really interesting because they have been |
| 1:41.6 | lending money to a lot of startups, like Silicon Valley startups. And when you have |
| 1:46.6 | low interest rates, it creates ease of access to money. Because if you can borrow money for 2%, |
... |
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