BREAKING 🚨: U.S. banks are now grappling with a whopping $515 billion in unrealized losses.
— Jacob King (@JacobKinge) November 25, 2024
To put it into perspective, that's over 8x higher than during the 2008 financial crisis.
Probably nothing. 😬 pic.twitter.com/FjdLDh6iAI
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Big Yikes. Nobody knows what will happen this time around especially with Trump coming in. Let’s just hope he doesn’t go down in history as Herbert Hoover 2.0. Protect yourselves boys and girls. Like Shakespeare wrote, ‘the better part of valor is discretion’.
Don’t go in debt, during Hoover 1.0 the banks and tax man always got there’s even as your family was driven off the farm aka Grapes of Wrath.
History shows that worthless fiat is always reevaluated into different Fiat (“Strong Bolivar, paper Mark etc.) BUT the debts owed STILL were there and often more expensive.
So, hyperinflation doesn’t allow you to repay that maxed out credit card with near worthless fiat.
Protect your trusted friends and trusted family. Far more valued in times of trouble than “money in the bank” (frozen or devalued).
I don’t like to dwell on it. All we can do is prepare and hope our trust in God and humanity wins out. I have faith a lot of people will be coming back to Jesus before it’s all said and done. Who knows, it may be the best thing for us in the end.
Trouble isn’t something new friend. The Bible tells us about it and how to survive and even prosper with His wisdom.
Ecclesiastes 4:12
New International Version
12 Though one may be overpowered,
two can defend themselves.
A cord of three strands is not quickly broken.
A few trustworthy friends and trusted family (even in the Bible are examples of betrayal from both) and Faith in God is far more valued than mere money when things get harsh.
If (when ?) hyperinflation hits, there could be a very small window to pay off fixed debt with hyper-inflated $$. The law would change very quickly to prevent it.
I’d like to see you explain that in some detail.
Here’s how I see it.
If you owe say 45 k on your truck and barely have income to pay your bills and food.
How is Hyperinflation going to help you?
Pay rates always TRAIL inflation.
Ah a set of chubby little baby fists and screaming incoherently.
GROW A PAIR, actually POST your Disagreement.
Down arrow cowards.
I know you can be fired for malfeasance, I don’t know if Govt and Fed officials can be tried criminally for it.