A controversial statement to some, but IMO the US is a Corporatocracy more than a Federal Constitutional Republic. More "Modern Corporate Capitalism", less Free-market Capitalism.
Point being, some businesses _are_ more equal than others because they have the money to lobby lawmakers. In an actual free market, the banks should fail.
However, it seems to me that the situation with SVB is a Democratic Socialist move. Again, my opinion, but it seems rather progressive. In history, Democratic Socialist programs have produced, arguably, valuable programs for the US. Unfortunately, mentioning "Socialist" is usually the point in which many will stop listening.
I'm sorry, I don't follow the logic here. Do you mind elaborating?
I see some correlation between SV remote working and COVID, but don't understand how mortgage backed securities play into this. Are you suggesting higher inflation on the way, lower property values, higher rates, and that it was intentional?
I might be missing something, but not sure why this was downvoted.
Deposits <$250k are FDIC insured. One could say those accounts didn't evaluate the institution that held their funds and didn't really need to. But were they aware of FDIC limits? IMHO, they should have been and likely were.
Depositors >$250k are well aware of FDIC and the risk associated with money in their bank. They really should think about the banks they work with and understand their risk profiles.
Subjective, but I understood how FDIC worked when I opened my first bank account that was no where close to 250k. If it was greater, I would optimize my holdings across different institutions and instruments.
In a more perfect world, I totally agree. But with American average savings so low and with the average level of financial literacy so low, expecting half of America to join the ranks of financial system watchmen is, IMHO, a tough hill to climb.
People now ain't stupider than in the past. And banking systems around the world (apart from the US, probably) did just fine without government backed deposit insurance. Eg in Canada or Scotland during their free banking eras.
> Apple has 50 billion in reserves, do you think they can find 200 thousand banks to spread that around?
Good question and of course, that's not likely. But then 50B in reserves isn't something you keep in a bank account, it's something you have rolled into several different financial instruments with varying levels of available liquidity.
Certainly, but what should be clear here is that we are not rescuing a failed investment. We are not giving out money to those who lost on crypto or whatever other risky asset. People are getting furious because they think something analogous to that is actually happening, when in fact all those companies are not at fault and did not benefit from SVB's suboptimal resource allocation.
Also, holding all of your fiat in a single bank or financial instrument is usually not a great idea. Diversification is important to any relatively stable financial position.
E.g: Fiat over $500k in a single institution is likely not earning as much as it could and runs the risk of loss of access to funds for X amount of time if the bank fails, until reimbursement happens. But $100k each in 2 different banks leaves you with $300k to invest however you see fit and still have enough liquidity to move quickly on opportunities.
True, it doesn't seem likely to apply to the government itself.
I'm not a lawyer, but my interpretation is that it may apply to credit bureaus and data brokers. As well, for better or worse, pretty directly affect FinTech.
But I digress, the implications of this bill could result in more unknown unknowns than I realize.
I love that you took action to make your idea a reality. That's a trait that not everyone shares, from my experience. Writing is a wonderful way to express yourself creatively.
I can relate. Essentially, it's a journal. I find journalling to be very healthy for my mind and have journaled online and offline for most of my adult life. Though, I must admit, I don't do it everyday. Personally, I find doing something artistic daily to be the most fulfilling. Whether drawing, writing, playing music, or whatever, it allows me to reap the benefits of exercising those creative muscles.
The part about writing a few pages when you wake up is a good idea, IMO. Not that it needs to be a daily structured routine, but what you experience sleeping is a unique experience that is worth writing down, occasionally. I've reflected on earlier journals I wrote when I woke up and have been surprised to read something I almost didn't recognize as my own.
People will often watch something they dislike with more intensity than something they like. The number of dislikes isn't the reason they want to watch it, it's the idea the title or cover image brings to mind. And those ideas and images are curated by Google.
Take the number of dislikes out of visibility and you strip the noise away from the signal that makes them money; views.
And who knows, the user might end up watching something that they wouldn't normally due to dislikes and, surprise, they like it. More exposure, less echo chamber-like. Less potential influence over a viewer's opinion of the content.
This is yet another move to make YouTube friendly to the same powers that be everywhere. This is a tool for centralized control, not a platform for everyone.
The reason they're doing this is the whitehouse is a joke. It's harder to convince the proles they should continue to be as easily mollified as they are when the proles aren't aware of how angry everyone else is.
It's hard to convince the world that what the TV people are paid to say is correct when it's clear that the vast majority disagree.
Point being, some businesses _are_ more equal than others because they have the money to lobby lawmakers. In an actual free market, the banks should fail.
However, it seems to me that the situation with SVB is a Democratic Socialist move. Again, my opinion, but it seems rather progressive. In history, Democratic Socialist programs have produced, arguably, valuable programs for the US. Unfortunately, mentioning "Socialist" is usually the point in which many will stop listening.
[wiki](https://en.wikipedia.org/wiki/Democratic_socialism#:~:text=D....)