ECON [FINANCE] First Deathburger Thread of the 2023 Banking Crisis. ALL welcome (hall passes at the door). Have At It.

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P

Profit of Doom

Dismember
West said:
Yeah, in today's environment it's better to spend it than bank it.

Trick is to spend fiat so it saves you currency later on.

I know that I banked on some Cambells chicken noodle soup that we bought a case of a couple years ago. Cost under a buck a can. And now it's two bucks for a smaller can.

:D
Click to expand...
Progresso. 99c can. About three years ago. Paid in quarters.
 
hiwall

hiwall

Has No Life - Lives on TB
Many people have most of their money tied up in IRA's or in 401k's.
Just because the stock market has not fallen into the basement yet, does not mean it won't happen. And if your funds are in the bond market you are screwed there too.
And if in a money market you are also screwed.
Taking out your money will cost you extra taxes and penalties which will drastically reduce how much money you get.
And if you get that money as cash, it will continue to lose value every single day because of our very high continuing inflation.
In case you missed it, no matter what you do, you are screwed.
 
J

John Deere Girl

Veteran Member
hiwall said:
Many people have most of their money tied up in IRA's or in 401k's.
Just because the stock market has not fallen into the basement yet, does not mean it won't happen. And if your funds are in the bond market you are screwed there too.
And if in a money market you are also screwed.
Taking out your money will cost you extra taxes and penalties which will drastically reduce how much money you get.
And if you get that money as cash, it will continue to lose value every single day because of our very high continuing inflation.
In case you missed it, no matter what you do, you are screwed.
Click to expand...
If you are invested in the stock market, if it tanks, and its not touched, eventually those stocks rebound. There's a lot of money to be made potentially.
 
Henry Bowman

Henry Bowman

Veteran Member
Just a reminder The FDIC stands for Federal Deposit Insurance Corporation .

A Corporation is a business and Businesses can and do go BANKRUPT.

Also, refreshments will be served if there is a Deathburger thread.
 
T

TFergeson

Non Solum Simul Stare
Groucho

Groucho

Has No Life - Lives on TB
I don't think I'll be fixing a deathburger tonight. Right now the overnights are positive by 190+. Now, if a whole slew of banks go tango uniform and things go off the rails, don't you worry. I've got a deathburger for that. ;)
 
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