Commissar SFLUFAN Posted June 11, 2020 Share Posted June 11, 2020 The U.S. financial system could be on the cusp of calamity. This time, we might not be able to save it. Quote After months of living with the coronavirus pandemic, American citizens are well aware of the toll it has taken on the economy: broken supply chains, record unemployment, failing small businesses. All of these factors are serious and could mire the United States in a deep, prolonged recession. But there’s another threat to the economy, too. It lurks on the balance sheets of the big banks, and it could be cataclysmic. Imagine if, in addition to all the uncertainty surrounding the pandemic, you woke up one morning to find that the financial sector had collapsed. You may think that such a crisis is unlikely, with memories of the 2008 crash still so fresh. But banks learned few lessons from that calamity, and new laws intended to keep them from taking on too much risk have failed to do so. As a result, we could be on the precipice of another crash, one different from 2008 less in kind than in degree. This one could be worse. Quote Link to comment Share on other sites More sharing options...
Jason Posted June 11, 2020 Share Posted June 11, 2020 So...sell any stocks and ETFs while you still can? Quote Link to comment Share on other sites More sharing options...
chakoo Posted June 11, 2020 Share Posted June 11, 2020 1 Quote Link to comment Share on other sites More sharing options...
mrbiggsly Posted June 11, 2020 Share Posted June 11, 2020 Who would've thought rewarding the people who crashed the economy could cause a relapse? Quote Link to comment Share on other sites More sharing options...
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