“Global Systemically Important Bank Stocks” Down 27% in 10 Months
“We are entering a time when the economy was likely to slow down anyway, but if stocks continue to crash and global banking woes escalate, that is going to spread fear and panic like wildfire.”
The End of Bank Profits for Nothing as Depositors Abandon No-Interest Accounts
For the better part of a decade, banks could count on depositors to provide them with free capital to invest, and the banks could keep 100% of the profits while supplying no interest in return. After several successive Fed rate hikes, consumers are finally able to demand interest once more.
If the violent swings in U.S. stocks are a harbinger of economic gloom, someone forgot to tell junk credit investors t.co/Pj77bm0yCh
— Bloomberg (@business) October 23, 2018
MARKET FORECAST pic.twitter.com/PSXD2duacC
— OW (@OccupyWisdom) October 23, 2018
Great read here from @rcwhalen. Am particularly fond of this quote LOL:
"The tightness in asset prices due to the FOMC’s twin idiocies of 'quantitative easing' and 'Operation Twist' will transform overnight into a buyers market."t.co/YqhZBCdytn
— Mike Larson (@RealMikeLarson) October 23, 2018
holy smokes this is not good pic.twitter.com/feq1eC0Wj5
— Alastair Williamson (@StockBoardAsset) October 22, 2018
The S&P 500 is close to being down for the year. pic.twitter.com/21tIGZuHBa
— Eddy Elfenbein (@EddyElfenbein) October 23, 2018
It's been happening, but now it's rapidly becoming a matter of critical US national security: t.co/CH6RTc34EK
— Luke Gromen (@LukeGromen) October 23, 2018
This morning @conorsen asked us how this miserable October compares to other election years. So far, worst since 1978 and second-worst ever for midterm years. pic.twitter.com/iRuFMesF9G
— Bespoke (@bespokeinvest) October 23, 2018
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