'What led to [Silicon Valley Bank]’s collapse was years of negative interest rates and $5 trillion of overspending by Biden's Democrats on their socialist wish list,' hgurdon writes.
If you think this has nothing to do with you because you didn’t invest in Silicon Valley Bank or keep an account there, think again. The spreading circles of its demise will splash you if you merely feel the pinch of high interest rates or buy groceries.Thanks, President Joe Biden!Start with the most egregious and characteristic thing the Biden gang did in response to SVB, which was to exceed its authority and what the law prescribes or allows .
The damage reaches wider. With no upper limit on the number of dollars that might need printing, the greenback will weaken, inflation will persist, and the Fed will have to make dollar assets more attractive with higher interest rates for a longer time, which makes recession more likely.
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