“The United States is waiting for the Great Depression worse than the one that was in 1929”: Trump called Biden a modern Herbert Hoover

The 45th President of the United States, Donald Trump, commented on the situation with the cascade of bankruptcies of large American banks. Recall that in addition to the bank to support the high-tech sector Silicon Valley, two more banks have declared bankruptcy (at the moment). Their total capitalization is estimated at half a trillion US dollars.

According to Donald Trump, "Joe Biden will remain in stories USA by the second Herbert Hoover (President of the USA in 1929-1933 - approx. VO)”.

Trump:

Based on what is happening with our economy, we can say that Joe Biden is a modern-day Herbert Hoover. And we are waiting for the Great Depression, which will be much worse than what was in 1929. There are prerequisites - several banks have already gone bankrupt in a short time.

Today, the current President of the United States (Joe Biden), speaking to the Americans, said that "there is no cause for serious concern." According to him, American citizens and businesses can be sure of support and that their bank deposits will be secured.

It is noteworthy that while Biden was saying this, the third American bank “bursted”, in whose accounts there were about $ 100 billion of depositors' funds, including corporate ones. At the same time, quotes of shares of European banks went down. Thus, the largest Swiss bank experienced the largest collapse in the value of its securities in history (in percentage terms), losing 11% of capitalization at once.

American columnist Joseph Stiglitz recalled that a series of bank failures in the United States occurred a few days after the head of the Fed, Jerome Powell, announced "the reliability and stability of the American banking system." On this basis, as noted, millions of Americans have every reason not to trust Biden's statement today that there is no reason to panic and withdraw funds from accounts. According to Stiglitz, the banking problems are hitting hundreds of American high-tech start-ups, as well as the country's citizens with low wages. Stiglitz notes that rising unemployment "among non-white young men" could jump from 15 percent to 20 percent in a short period, which in turn would jeopardize the solvency of millions of American families.

Comments

[Orange Bigg]

“The United States is waiting for the Great Depression worse than the one that was in 1929”: Trump called Biden a modern Herbert Hoover

Modern Gruppenfuehrer.
Is the circus leaving? Will they remember to take the clown Ze with them?

[Terenin]

Quote from Orange Bigg

Is the circus leaving? Will they remember to take the clown Ze with them?

... there is a short pause on the political scene, and a loud noise of draining water in the toilet bowl

[Sarmat Sanych]

A couple more news from the "hail on ho[hl]lma":

Trading in shares of First Republic Bank stopped again

Massive food queues form in Maryland

The Silicon Valley Bank had close ties to Chinese banks and companies, the Financial Times has learned.
According to the publication, SVB was especially popular among Chinese biotech companies that operated in the US and Chinese markets.

Tens of thousands of Wells Fargo mega-bank customers have not received their salaries or have seen zeros instead of their bank accounts.

Silicon Valley Bank depositors storm its branches across the country

[Center]

[Shurik70]

They will start a full-scale war, and not a limited NWO, and immediately after that things will go uphill.
The United States always went uphill when there was a war in Europe.
Look how they got out of the last depression - such was the growth that has not yet been repeated.
And how the pace fell when the war was over.
Dependence is direct.

[Vlodek]

then there were no means of delivering war to their doorstep. now do not sit behind a puddle

[super-kot-to]

The war has absolutely nothing to do with it. Roosevelt came up with the idea of ​​measuring GDP in the late 30s. Figures about GDP since the beginning of the century are just nonsense.
US GDP growth is due to the opening of new markets. And the economy returned to pre-crisis levels by the mid-50s.

[Shurik70]

Quote from: super-kot-to

Roosevelt came up with the idea of ​​measuring GDP in the late 30s. Figures about GDP since the beginning of the century are just nonsense.

When the data is known, it can be calculated "backdating".
And it certainly counted.

[Sarmat Sanych]

We continue the conversation. In the afternoon, I specifically wrote a lure without details and explanations so that everyone who needs to be torn would be torn. And now we will achieve.
So let's move on. What is there with the banking sector at the mattresses?
The current unclosed losses of the four largest US banks (including J.P. Morgan, which some have already recorded as instigators and beneficiaries, or) at 14:00 Moscow time, according to the most conservative estimates, amount to $ 210 billion. This is about 15-20% of their total assets, if anything.
The situation for regional banks is no better. During an hour of trading, some of them lost 60-75% in capitalization (there are a lot of additional figures and charts in the Telega, which are wildly inconvenient to drag and drop here, so see additional materials. For a number of them, trading was urgently stopped.
Biden went all out and said that the banking system is stronger than ever and there will be no crisis. “There will be no default. I guarantee it "(c) Boris Yeltsin the day before the default
After that, the stock market rushed down in hysterics.
The officially announced total volume of “uncovered losses” of the US banking system is over $300 billion. Although there are already publications where they are estimated by experts at $ 1 trillion (and with hints that this is not the limit).
So, what is "uncovered losses"? This is when the bank has some, ahem, “securities” on its balance sheet, which at face value cost, say, $ 100, but in reality there is junk paper, for which even $ 5 will not work out. But on the balance sheet it hangs as an "asset", falsifying reporting.
This has already happened in 2007-08 with all sorts of derivatives (mostly mortgages, but not only).
And over the past couple of years, a lot of similar garbage has also accumulated. The February crisis of 2020, then the pandemic, when production was closed almost all over the planet, and investors rushed about in search of safe havens and opportunities to attach their capital. Many then attached them to any frank guano.
Including in the crypt (which is generally not clear how to show in the bank's assets). And lately, a number of crypto-exchanges have been covered by a well-known body (by the way, SVB also had its own one, it also had RIP).
A lot of money was also buried in venture capital investment, in all sorts of "promising start-ups" associated with "biohacking" and "green technologies". Yes, these taps have been invested in "lower carbon footprint"! For details, you need to dig into the investment structure for each problem bank.
In general, at presentations to boards of directors and shareholders, beautiful figures of prosperous prosperity were shown, but in reality there is moss and a swamp. And when liquidity crises began to arise, it turned out that it was impossible to sell these "securities" - no one buys them.
Tellingly, only a couple of days before their bankruptcy, the SVB management paid themselves, their loved ones, solid bonuses for successful activities. Defective managers are so defective.
By the way, reconsider “The Shorting Game” once again, all this is perfectly shown there (although in places with an overabundance of terminology, but such is the specifics).
All in all, US banks need to write off $1 trillion of "assets" as irrecoverable junk. And it hurts. And this is not the end of America's suffering.
PS Biden, being an agent of the Kremlin, cut off the Russian banking system from the Western one in advance in order to protect Russian banks from losses. Yosya also helped the Russian economy to tremendously diversify imports and exports, reducing dependence on the EU. After that, he squandered the strategic oil reserves of the United States (the one that the States had been accumulating for 40 years since 1982), leaked weapons and ammunition to Ukraine, squandered ~ 90% of the US ammunition reserves, siphoned money out of the American economy, and last week dealt a crushing blow to the entire Western banking system .
I won’t be surprised if Terran, based on the results of his work, awards Biden the rank of major and awards him with the Order of Merit for the Fatherland, third degree, and the military blocher-drunkard Sladkov will get Yose a discount on the legendary Finnish LGBT.

[Al manah]

We are waiting for the exchange rate of 1 ruble = 1 dollar. Or will things get even better?

[smart ass]

It is very reminiscent of the program “however” with Leontiev, he told us for 20 years about the US national debt and the collapse of the dollar

[AAK]

On the one hand, the problems of the mattress makers are kind of beneficial to us... it's much worse that a friendly howl and "cry of the Israelites" of our rich Pinocchios will begin, the dollar will start to fall in the world, and in Russia - to rise, because the "Pinocchios" still keep a significant part of their stashes in them...

[Orange Bigg]

Let then switch to the ruble or yuan.

[Nikanor1993]

I remember very well how profitable they are, I saw enough in 2008, everything will fly there, it will fly with us.

[75 Sergey]

Well, now we are separated from them by an iron curtain, which they themselves lowered.
On the other hand, the cheap dollar and the availability of resources make the United States advantageous in terms of the location of production.

[Nikanor1993]

The "Iron Curtain" can at least somehow work only when taking into account very serious sovereignty, and not the one that the Guarantor is telling us about, but industrial and scientific.

[Terenin]

Quote: Nikanor1993

I remember very well how profitable they are, I saw enough in 2008, everything will fly there, it will fly with us.

Unfortunately yes. The relationship is not bad.

[maiman61]

Will fly with us, so what? Main landing! We then sit down gently and adapt to the new reality. And Satan will die to our joy!

[Nikanor1993]

And who is this "Satan"? Maybe these damned American proletarians with their kids who didn't want to starve? How much joy do you experience from this?

Although yes, I’m sure that every Trump will also get it, they will have to build a mansion not 5, but 4 floors.

[Plate]

Quote: Nikanor1993

And who is this "Satan"? Maybe these damned American proletarians with their kids who didn't want to starve? How much joy do you experience from this?

Spit on the American proletarians and their children. Absolutely. As well as on all others. Except Russian. If they die of hunger there, as long as we eat regularly and heartily, absolutely do not care. And if at this expense we will also profit, then I will also rejoice. And if, God forbid, we die of hunger along with the Americans, then they still won't worry me.

[Nikanor1993]

Is it normal for you that the brunt of the crisis, both for them and for us, will fall not on the Bidons, Trumps and Abramovichs, Sechins and other Bezos and Bloombergs, but on ordinary hard workers (otherwise it so happened that in difficult situations, the native authorities first raise from the knees of the most worthy)? Also, how are you going to cash in on this without decoupling gas and oil prices from the dollar? Well, and so, after all, how can a person be morally helped by the hardships of others, especially those who are not involved in his hardships?

[Plate]

Yes, good. Because, alas, it has always and everywhere been, is and will be. In all systems, more numerous, interchangeable elements are sacrificed first. I, as another such element, of course, do not like it. But looking at the whole picture, purely rationally, I realize that this state of affairs is normal, since it can be seen everywhere. Even our own body regularly sacrifices immune cells, skin cells... so that the cells of the internal organs and the brain continue to function. I am sure that if you ask the immune cells for their opinion, they will express not the best wishes for all these neurons that have settled somewhere there and are sitting.
I told you, I don't care about their hardships. I will be satisfied with them if, due to their hardships, they become less for me. If not, then they are absolutely parallel to me.

[Nyrobsky]

Quote: Nikanor1993

And who is this "Satan"? Maybe these damned American proletarians with their kids who didn't want to starve? How much joy do you experience from this?

Well, why did you post these tearful pictures here? They do not care at all about the dying, suffering and starving all over the world, although it was their country, the United States, that caused their troubles and misfortunes. No, dear, they must fully, with two scoops, sip all the delights of collapse and decline, because this is exactly what they deserve.

[Nikanor1993]

Who are they? Senators and directors of all sorts of Northrop Grumans? Yes, they do not care, their mother is dear to them, and the crisis is not very terrible for them, they will simply cut wages for hard workers, raise their retirement age and continue to fatten. I like this modern classless approach so much, you can expose the entire population of the country as Satan and not soar your brains.

[Vlodek]

if the hard worker has a pocket of cut paper, and the director has a suitcase of cut paper, then the question is: who. find a job faster for money? think a skilled worker is faster. not in mattresses, but in China or Iran ... but you never know where qualified hard workers are needed. but director Norton Gruman, let him ask for the Vostochny cosmodrome. there is a queue of "talented managers"

[Plate]

The United States is a democracy where government is elected by the people. The population of the States agrees with these nonsense? Yes, even our liberoids (I don’t want to use “liberals”, because this is a higher term) agree with this, and they don’t lie! So they chose all these senators themselves. And if not, then let the whole nation repent (and what, but should we?) for deceiving the whole world and building a dictatorship under the slogans of democracy.
And the class approach is an interesting thing. It, like everything else, can be twisted as you want. Your position is understandable, but ... Here, for example, the Wehrmacht privates were clearly from the proletarian layer. And what? I am sure that their suffering was rejoiced even in the USSR, which adored all these class approaches. Why, I am absolutely sure that hardships were actively created for them. Up to the main burden - death. But the same proletarians ...

[ivan_nkl]

everything will fly there, it will fly with us

during the Great Depression in the United States at the beginning of the 20th century, industrialization was in full swing in Russia and the Leninist GOELRO plan was carried out with great force ...

[Nikanor1993]

During the Great Depression, there was no Russia, there was the USSR.)

[ivan_nkl]

During the Great Depression, there was no Russia, there was the USSR.)

GOELRO - abbr. from the State Commission for Electrification of Russia))))
There was NO Russia, but there was a plan !!?? Russia, of course, was, but as part of the Union

[Nikanor1993]

So, what else was in that union that was not in what is called Russia, and what helped to easily endure the great depression, let's help: social ...

[Plate]

Quote: Nikanor1993

and what helped to easily endure the great depression

Isolation from the world economy. All. In China, there are also now "social ...", but the crisis of 2008 hit him like everyone else.

[tralflot1832]

You are fundamentally wrong about our Pinocchio, they have already lost all foreign assets once. They are not fools, having received their business almost for free and multiplying it many times over.

[Sarmat Sanych]

None of us has anything from "Pinocchio" in $, there are no stupid ones. By the way, even in Russia's foreign trade settlements, the share of the dollar in just one last year collapsed from ~ 60% to 34%. The share of the ruble soared in just one year 2022 from ~ 10-12% to 33%, and it grows even more in January-March 2023. As far as I know, in January-February 2023, less than 10% of settlements are generally accounted for, and we also do not especially moving, in the region of 15%. The ₽ becomes a full-fledged international currency despite the monstrous opposition of the 1 billion collective West.

[Nikanor1993]

The deficit of the federal budget of Russia in January-February 2023 amounted to 2,58 trillion rubles, the press service of the Ministry of Finance reports.

“According to preliminary estimates, the volume of federal budget revenues in January-February 2023 amounted to 3,163 billion rubles, which is 25% lower than the volume of revenues in January-February 2022,” the report says. Expenses amounted to 5,74 trillion rubles, which is 52% more than a year earlier.

Oil and gas revenues amounted to 947 billion rubles. and decreased by 46%, which is primarily due to a decrease in quotations for Urals oil and a decrease in natural gas exports, the ministry noted.

Do you need to decipher what all these numbers mean and what they threaten us with further progression at the same pace?

[Ural resident]

Quote: AAK

On the one hand, the problems of the mattress makers are kind of beneficial to us... it's much worse that a friendly howl and "cry of the Israelites" of our rich Pinocchios will begin, the dollar will start to fall in the world, and in Russia - to rise, because the "Pinocchios" still keep a significant part of their stashes in them...

The question here is that other currencies stand, the same Yuan. If they leak, then it will affect us anyway.

[janeck]

I wish this rabble without family! Repeat this recession.. Amen!

[ivan_nkl]

Repeat this recession..

Oh, again, again, many more times...

[Vladislav]

Hurry already! Would love to see it :-)

[tihonmarine]

Quote: Vladislav

Hurry already! I really want to see this:

It's too early, the euro exchange rate is 0,934 to one dollar. Life will tell.

[ivan_nkl]

Would love to see it :-)

warm yourself by the fire of the world fire ...

[tralflot1832]

Bank insurance covers a deposit of 250 dollars. Anything above that is covered with a copper basin. The bubble was supposed to burst. "I'm getting a vacuum cleaner and tomorrow I'm starting to vacuum up Biden's funeral wreaths." And I'm wondering why villas are being built in Sochi at cosmic speeds. Where do we get so many millionaires from?

[Plate]

Will American millionaires really run to Russia? This will be the number!

[tralflot1832]

8 villas were built in front of me, until that moment no one had bought them.

[Terenin]

Quote: tralflot1832

8 villas were built in front of me, until that moment no one had bought them.

Until you buy it, you can make good money on protection.
Display the video directly to the house and do not need to bypass the territory

[pharmacist]

He directly presented how Western billionaires emigrate to Russia and place assets in Sberbank and VTB.

[Plate]

And then in the USA they begin to beg their business to withdraw money from Russia back to the States and threaten that a communist revolution is about to happen there, and everything will be confiscated. In response, American billionaires will either remain silent or make promises, but in the end everything will remain the same in Sberbank and VTB. And then there will be a communist revolution.

[Reptiloid]

But before that, the unemployed young non-whites mentioned men will start robbing everything and everyone!
Having learned about such beauty, various Latin American dreamers will start to break through the Mexican border faster in order to finally realize their long-standing dreams. dreams and rob Americans.

[bambr731]

Today, the current President of the United States (Joe Biden), speaking to the Americans, said that "there is no cause for serious concern."

What reality does Biden live in? Definitely in some kind of personal. No matter how you look at him, he smiles like an idiot and everything is fine with him, there is nothing to be afraid of. How was this chosen? And after all, the nuclear power is led by

[75 Sergey]

Do you think he's in charge?
Come on, more than one US president has not led the country over the past 100 years, Kenedy tried, but ended badly.

[Tma197725]

So let's wish them well and the fate of Kennedy! Peaceful clear radioactive sky above the transgender head!

[Terenin]

Quote: 75Sergey

Do you think he's in charge?

It is interesting to know who is the leader (whether)?

[dauria]

It is interesting to know who is the leader (whether)?

In the USA or in Russia? I am also interested in who is spinning Biden and who is Putin. Or maybe it's just one gang with kosher roots...

[ANB]

. Come on, not a single US president has led the country in the last 100 years.

FDR? After him, they introduced an amendment, no more than 2 terms.

[lubesky]

In one sense, Trump is right that the consequences will be worse, since the real economy of the states was much stronger in the 30s than this stock market bubble from his bond to bond, which is backed by a bond. I hope the recession does not end the third world

[ivan_nkl]

bonds for a bond that is backed by a bond

in the states in large cities instead of factories - representative offices of TNK

[sagitovich]

We must not forget how the United States overcame that Great Depression.
By exporting a large number of weapons
And after the end of World War II, the United States prospered like never before.

[Terenin]

Quote: sagitovich

We must not forget how the United States overcame that Great Depression.
By exporting a large number of weapons
And after the end of World War II, the United States prospered like never before.

Therefore, the United States is trying to ignite wars wherever possible.

[Tma197725]

Print new loot! Increase public debt. A trillion more, a trillion less. The rest of the world hides! Vpk works! Europe hooked on their LNG. Orders for the defense industry come from all over the world. They know how to make money in wars better than anyone! They are all right!

[Master 2030]

As they say in the NWO zone: "At the Susid, the pig died. The pig is small, that yak radio operator is great."

[Michael]

It hurt my eyes straight - what a terrible hand is holding a bill in the photo. Really, I think, reptilians!
I took a closer look, felt better - a hand in a glove.

[Incvizitor]

The worse these nonhumans, the better people.

[rocket757]

USA is waiting

. Yes, figs knows what awaits them ... they master turns over in flight, and they can get out. At the expense of others, of course, but this is no longer our headache.

[Nikanor1993]

Of course, not ours, because the price of oil and gas that our darling trades has nothing to do with the damned dollar, although wait for those ka ...

[Reptiloid]

..... they can get out ......

Of course they will try to do it, Victor! They have big plans. That same Blinkin went to see how things were going and to sow discord and to frighten and incite.

[ivan_nkl]

but this is no longer our headache

they will get out at our expense, including ((

[evgen1221]

Direct balm for wounds, I would read and read! The can was lost and once again in the press about this, Trump is rude to his grandfather, Tucker and Fox News have confirmed that he has been reading personal correspondence for a year, the Fed is torn about in confusion, the State Department hastily thinks out how to fasten the Russian Federation to this, Shares crashed at some corporations on 75%. Well, just a holiday on the next street!

[16112014nk]

Quote: AAK

the dollar in the world began to fall, and in Russia - to grow

Our financial tycoons, such as Siluanov with a Bashkir, will not miss such a reason to "lower" the ruble.

[Vasyan1971]

Stiglitz notes that rising unemployment "among young men of color" could jump from 15 percent to 20 percent in a short period.

So white young men can sleep peacefully. Everything is under control, everything is going according to plan!

[Mikhail Krivopalov]

In fact, the depression a hundred years ago touched the entire Western world. But there is no USSR, since it was not built into the world economy. But the Russian Federation is now built in, so do not rush to rejoice that the nasty neighbor's buildings are on fire, the flames can spread to our site. And given that the bourgeoisie can arrange a world war to solve the crisis, it becomes even more dangerous.

[1erWahrheitsMinister_1984]

Je eher diese Mistgeburt eines undemokratischen Zwei-Parteien-Staates mit zwei ultrarechten Flügeln endlich implodiert, desto besser für den Rest der Welt...!!!