We already exceeded the worst year of the 2008 banking crisis. And its only May…
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The difference is that 2008 affected all banks, and sectors outside of banking.
This is just poorly run dumpster fires flaming out. First Republic would still be around if the media wasn't constantly hammering it for how it was about to die. You also missed SilverGate Capital which got shorted to death by Soros Fund Management.
Those poorly run dumpster fires happen to be some of the biggest banks in the world.
Credit Suisse, by all comparisons is not a dumpster fire. However, they are all dumpster fires being compared to one another.
This is bigger than the 2008 financial crisis. That was a housing bubble that indirectly effected every other sector because the entire economy was over financialized. This is the entire financial system dying, along with the Petro-Dollar. This is a bigger financial collapse than the Fall of Spain.
Also, it's an intentional implosion. Demands to start putting your money into a CDBC are going to start coming soon. Genuinely, the DC rats are looking to stall the economic death of global economy by putting it on Trump in 2024, but I have no idea that they can wait that long.
What do you think this means for the housing market and mortgages?
I personally think they will crash, but to what extent I am unsure. It also relies on what the government does in response to these markets going downward.
The recent actions by the government, by punishing people with good credit and rewarding those with bad, will probably act to somewhat "cushion" the crashes fall....at the expense of economic stability in its entirety (and also doing nothing to actually really solve the problem with the houses being too unaffordable to begin with, meaning the issue will absolutely show up again and probably as fast as it did from the 2008 crash, if not even faster).