This is John Bachelor. I spoke with my good colleague Jim McTegg, former Washington editor of Beren's magazine.

He's seen many times before the crash or the near crash of markets.

Lots of excitement. The banking story is special, of course, because it's sensitive to interest rate changes. So I asked Jim

a long time

proverb is that the Fed will raise rates until something breaks. It's this hit.

Jim's answer is no

not yet

Something bigger will break as rates get much higher and and we'll see breakage through the entire rate rising cycle and after the peak for so

You know hang on to your seatbelts and

Kick the tires before you put money into anything

This is John Bachelor