On Wire

Breaking news, updates, and reports on current events.

The Great Financial Collapse of 2023. Comparison of Bear Stearns’ collapse in March 2008 and Credit Suisse in March 2023.

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by kindred_asura In March 2008, the New York Federal Reserve provided an emergency loan to try to avert a sudden collapse of Bear Stearns. The company could not be saved, however, and was sold to JPMorgan Chase for $10 per share, a price far below its pre-crisis 52-week high of $133.20 per share, but not as low as the $2 per share originally agreed upon. The … Read more

Statement by Secretary of the Treasury Janet L. Yellen and Federal Reserve Board Chair Jerome H. Powell:

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by Dismal-Jellyfish   Source: https://www.federalreserve.gov/newsevents/pressreleases/other20230319a.htm “We welcome the announcements by the Swiss authorities today to support financial stability. The capital and liquidity positions of the U.S. banking system are strong, and the U.S. financial system is resilient. We have been in close contact with our international counterparts to support their implementation.”

Federal Reserve Alert! Coordinated central bank action to enhance the provision of U.S. dollar liquidity

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by Dismal-Jellyfish Source: https://www.federalreserve.gov/newsevents/pressreleases/monetary20230319a.htm The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements. To improve the swap lines’ effectiveness in … Read more

Trucking continues to show signs of weakening. Volumes have slowed since the start of the month, with no signs of firming.

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Truckload spot rates make a new cycle low. With volumes struggling, spot rates will likely fall further. 2/ pic.twitter.com/GIAMDaZP35 — Craig Fuller 🛩🚛🚂⚓️ (@FreightAlley) March 19, 2023 Contract rates are likely to continue their fall in the coming months, as the spread between contract and spot rates is at very high levels. The way to … Read more

186 More Banks “Are At Risk Of Failure”, And That Could Push Us Into The Next Great Depression

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by Michael They are desperately trying to plug one leak in the system after another, but what happens if the entire system suddenly comes crashing down all around them?  Back on January 4th, I specifically warned that our problems would “greatly accelerate over the next 12 months”, and that is precisely what has happened.  We are … Read more

Joe Rogan says the culture shifted, and now the left embraces war, censorship, big pharma, and authoritarianism

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.@joerogan says the culture shifted, and now the left embraces war, censorship, big pharma, and authoritarianism: "If you stop looking in terms of red and blue — look at the actions. Whether it's war, suppression of free speech, or mandatory pharmacological interventions. That… pic.twitter.com/R2uNppzuzx — KanekoaTheGreat (@KanekoaTheGreat) March 18, 2023 h/t dr0id

WTF is up with Boot Club & Blackeyes?

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by ElleMira We’ve talked about the blackeye club: View post on imgur.com WTH is up with these boots? Why so many celebs, politicians and their spouses wearing these orthopedic boots? Lets start with the weirdest one, John McCain (weird because he switched it and wore it on his non-injured leg): View post on imgur.com And his … Read more

Peter Schiff: The Fed has surrendered the inflation fight… Investors will Bump UP the price of GOLD

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As I warned for years the only way the #Fed can come close to achieving its 2% #inflation target is to allow a worse financial crisis than 2008 to run its natural course, with no bailouts for banks or their customers. The Fed chose bailouts and surrendered the inflation fight. — Peter Schiff (@PeterSchiff) March … Read more

Major accident in Portland Michigan 50-100 vehicles pileup

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🚨#BREAKING: A significant pileup has occurred with 50 to 100 vehicles with injuries reported 📌#Portland l #Michigan Currently a major accident has occurred near Portland, Michigan on I-96, According to police reports, the incident was caused by hazardous whiteout snow… pic.twitter.com/qD7DZZWuqS — R A W S A L E R T S (@rawsalerts) March 19, … Read more

Credit crunch is already here for Main St. Last week it arrived for Wall Street

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by mark000 Main: https://fred.stlouisfed.org/series/DRTSCILM Wall: https://fred.stlouisfed.org/series/NFCI#0 The Wall St number is going to go vertical over the coming weeks. Check out what it did in Aug 2007….. & and pandemic panic in 2007 to see.   For all of the various reasons that have led us to this lethal juncture, central banks are now doing now the … Read more

Never in history have we had all three issues happening at once…

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The recent banking problems reminded us of how the US economy is facing a trifecta of macro imbalances: ▪️The debt problem of the 1940s▪️Speculative environment of the late 1990s▪️Inflationary issues of the 1970s Never in history have we had all three issues happening at… pic.twitter.com/VrC442cVry — Otavio (Tavi) Costa (@TaviCosta) March 19, 2023 The greatest … Read more