Ripped From The Headlines, September 25, 2023
Banks Fear Liquidity Crunch, Can The US Survive Four Different Economic Crises? African Nations Stand Up At The UN - Read, Share, & Subscribe - SherlocExposes.com
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“Banks are paying up to protect their cash holdings from sinking further and to safeguard against future runs on deposits, according to Bank of America Corp.
Big and small institutions alike started doing this even before the turmoil in the US banking system in March, said strategists Mark Cabana and Katie Craig. Data show large time deposits — or certificates of deposit issued in amounts greater than $100,000 — have risen by about $675 billion since the beginning of the Federal Reserve’s balance sheet unwind in June 2022.
‘It is expensive to maintain deposits but banks appear willing to pay the price,’ the strategists wrote in a note to clients on Friday. ‘Banks likely want an extra buffer of cash due to rapid deposit outflows and to manage shareholder perception about their overall liquidity.’
In the 18 months since the central bank started hiking interest rates, cash has been flowing out of the banking system in search of higher-yielding alternatives.
With the Fed pledged to keep interest rates at current levels for longer and deposits continuing to leave, the risk that bank reserves will deplete is increasing. That could force the monetary authority to halt its quantitative tightening earlier than intended.”
THINGS TO PONDER:
What do the big banks and the US government think is going to happen in the near future?
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“The U.S. economy has sailed through some rough currents this year but now faces a convergence of hazards that threaten to create more turbulence.
Among the possible challenges this fall: a broader auto workers strike, a lengthy government shutdown, the resumption of student loan payments and rising oil prices.
Each on its own wouldn’t do too much harm. Together, they could be more damaging, particularly when the economy is already cooling due to high interest rates.
‘It’s that quadruple threat of all elements that could disrupt economic activity,’ said Gregory Daco, chief economist at EY-Parthenon.
Many analysts expect slower economic growth this fall but not a recession. Daco forecasts economic growth to slow sharply to a 0.6% annual rate in the fourth quarter from an expected 3.5% gain during the current quarter.
Economists at Goldman Sachs expect growth to cool to a 1.3% rate next quarter, from a 3.1% gain in the third.
THINGS TO PONDER:
This publication won’t lie to you to make money…
The economy has not been good, nor is it good or strong right now…
That’s an illusion, propped up by a government that’s scared to death of you waking up to their BS.
If things were as great as analysts say they are, we wouldn’t have record credit card debt and defaults, people could afford to live, and everyone wouldn’t be running around on edge…
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“If you listen to the African leaders addressing the U.N. General Assembly this year, the message is emphatic and unanimous: The continent is done being a victim of a post-World War II order. It is a global power in itself and must be partnered with — not sidelined.
Most of Africa has logged a lifetime of independence — roughly 60 years — and the continent of more than 1.3 billion people is more conscious of the challenges stifling its development. There’s also a new boldness that comes with the African Union’s G20 seat.
‘We as Africa have come to the world, not to ask for alms, charity or handouts, but to work with the rest of the global community and give every human being in this world a decent chance of security and prosperity,’ Kenyan President William Ruto said.
In recent years, Africa has been clear about its capacity to become a global power, from efforts to tackle climate change at home — such as the existential threat of climate change upending lives and livelihoods in the region, despite Africa contributing by far the least to global warming — to helping to foster peace elsewhere, like in Russia and Ukraine.
Nigeria’s leader, Bola Tinubu, urged his peers to see the region not as ‘a problem to be avoided’ but as ‘true friends and partners.’
‘Africa is nothing less than the key to the world’s future,’ said Tinubu, who leads a country that, by 2050, is forecast to become the third most populous in the world.
With the largest bloc of countries at the United Nations, it is understandable that African leaders increasingly demand a bigger voice in multilateral institutions, said Murithi Mutiga, program director for Africa at the Crisis Group. ‘Those calls will grow especially at a time when the continent is being courted by big powers amid growing geopolitical competition.’”
THINGS TO PONDER:
It looks like African nations are tired of being pimped out by China and others for their natural resources, and want their seat at the table…
Long time coming.
This publication has mentioned prior that a “United States of Africa” would change the balance of power in the world, as some of the largest deposits of precious metals and minerals in the world are there…
Once that part is figured out, all bets are off…
And, with generations of natives returning to the continent after being educated abroad, they are doing just that - figuring it out.
They Know Their Foe.
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Here are handy references from Ripped From The Headlines to help you follow along with this episode:
Click Here to learn more about the US Debt Clock and the out-of-control debt-to-GDP ratio in the US.
Click Here to see the “Sherloc Death List” of businesses.
James Wesley, Rawles, publisher of SurvivalBlog.com has put together a “bookshelf” list of key things you should have. CLICK HERE to access the list.
Plus a recap of the 50 things you should have handy to barter.
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