[K-Dog]

peak oil 2008 was all the rage

Only in our extended coffee klatch has it ever been the rage.

[RE]

The Diner started when? 2006-07-08?

I started writing on the econ topics on the peakoil.com website in 2007.  Eventually I joined Jim Quinn writing on TBP in 09, and started a ReverseEngineering Forum on Yahoo.  We launched the Diner in February of 2012.

RE

[RE]

An answer to the Who's Next question.

https://www.thestreet.com/banking/is-pacwest-the-next-u-s-bank-to-collapse

Is PacWest the Next U.S. Bank to Collapse?

RE

[RE]

Yup.  Pac West headed down the toilet.  Jamie Dimon as usual is full of shit.

https://www.youtube.com/watch?v=3P_R1g801do

RE

[RE]

"This not the end.  It is not even the beginning of the end.  But it is the end of the beginning." - Illuminati Scumbag Winston Churchill

https://dailyhodl.com/2023/05/07/us-banking-turmoil-now-bigger-than-2008-financial-crisis-but-real-storm-hasnt-hit-yet-economist-peter-st-onge/

US Banking Turmoil Now Bigger Than 2008 Financial Crisis – But Real Storm Hasn't Hit Yet: Economist Peter St Onge

RE

[RE]

Shall we play a game?  Let's play Global Thermonuclear Monetary System Collapse. 

https://www.ft.com/content/61e2ddc3-1277-4f4d-9452-339ba3566269

Visualising US bank failures

https://www.youtube.com/watch?v=KXzNo0vR_dU

RE

[RE]

Contagion.  The C-word that leads to Crisis and Collapse.

https://www.manilatimes.net/2023/05/08/opinion/columns/us-banking-crisis-in-a-new-stage-of-contagion/1890416

US banking crisis in a new stage of contagion

RE

[RE]

Yes, though it's likely to be an order of magnitude worse.

Here's to hoping JP Morgan goes belly up in this cycle. 🤞🏽  It would be nice to see Jamie Dimon take it in the shorts at least once.  Of course, he'll float down gently with a Golden Parachute, but it's nice in a symbolic way.

https://unherd.com/thepost/is-a-2008-style-credit-crisis-imminent/

Is a 2008-style credit crisis imminent?

RE

[AGelbert]

Contagion.  The C-word that leads to Crisis and Collapse.

https://www.manilatimes.net/2023/05/08/opinion/columns/us-banking-crisis-in-a-new-stage-of-contagion/1890416

US banking crisis in a new stage of contagion

RE

True. I expect those with blood pressure issues will be at increased risk.

To whom it may 😕 concern:

🧐👍 At-Home Versus 😒 In-Clinic Blood Pressure Measurement

[K-Dog]

True. I expect those with blood pressure issues will be at increased risk.

The universe never stops coming up with new ways to make my head explode.

[AGelbert]

True. I expect those with blood pressure issues will be at increased risk.

The universe never stops coming up with new ways to make my head explode.

You ain't seen nothing yet.

[RE]

What is "white coat hypertension"?

It's when your BP rises whenever somebody wearing a white lab coat comes over to take your BP.  Many people have this reaction and you get diagnosed as having chronic hypertension when you really don't.

RE

[RE]

The really annoying thing about banking insolvency these days is the alphabet soup of bailout agencies that keep shifting around and restructuring the debt to stave off bankruptcies.  The debt is still there, the bank gets more and more insolvent because the new money comes very expensive, but it delays the inevitable collapse.  So even though the piss poor condition of the banking system has been obvious for months going back to even before the collapse of SVB and Republic and every financial guru from Dr. Doom to Jeremy Grantham and Jim Cramer keeps hooting about an oncoming train wreck, it takes so fucking long to play out it makes you want to tear your hair out by the roots if you are a follower of this kind of nonsense.  Just get it over with already! 

https://www.benzinga.com/news/23/07/33155886/second-wave-of-banking-crisis-incoming-crash-could-be-worse-than-2008-global-financial-crisis-says-e

Second Wave Of Banking Crisis Incoming, Crash Could Be Worse Than 2008 Global Financial Crisis, Says Expert

RE

[RE]

There's certainly plenty of talk going round about the oncoming train wreck of the banking system, commercial RE is just one more piece of the puzzle.  Also not sure how much "work from home" is to blame, the big tech companies don't like it.  So called productivity increases aren't there and managerial level folks have a harder time cracking the whip as "boss".l  Mostly I think it's just plain old downsizing as these companies shrink or go outta biz.  Whatever thee cause, it's bound to deflate the market, not good news for the banks.  Takes a long time to play out though, so I'm sure they have a magic act to fix it.

https://www.inc.com/jennifer-conrad/why-siete-family-foods-is-giving-2-million-to-latino-businesses.html

The Coming Bank Crisis No One Is Talking About

RE

[RE]

A nice concise explanation of the ongoing banking crisis and the reason for the downward spiral that becomes self reinforcing and about impossible to stop.  The key is in this one sentence...

The economy operates on credit expansion which is why it's very rare to see bank credit contract.

Another way of saying the same thing is just substitute the word "Debt" for "Credit", because for every credit extended, somebody else has a debit on their balance sheet.  The economy, all the money we use is DEBT.  Somebody somewhere has to extend credit and somebody else somewhere has to take on debt in order to have any money at all flowing around in the economy. Once the banks stop handing out the loans, the economy grinds to a halt.  Down goes the Titanic.

https://seekingalpha.com/article/4617317-an-update-on-the-banking-crisis

An Update On The Banking Crisis

RE