Where to go? | Armstrong Economics
Many people ask where to go, which bank is safe and what’s next? This is by no means over. Financial mismanagement is on the rise and we have a serious clash with the Marxist views of Democrats who always want to punish the rich and then ask them for funding. Only in the Democratic Party can you hold a $10,000 a plate fundraiser and preach how bad inequality is and that the rich should be held accountable.
Those who keep calling for gold standard even the clueless A return to balanced budgets means the Democrats will have to completely reform. They NOT be able to govern without class struggle. Politics has deeply divided the United States to the point where the only sensible solution would be a division between blue and red. As Lincoln said, a house divided cannot stand. This is becoming so obvious that the day will soon come when it will happen. There were more than 30 civilizations before us. Each of them collapsed. We’re just waiting for our 15 minutes in the spotlight.
We have to understand that outside of the United States things are far worse geopolitically due to the neocons who have done nothing by condoning endless wars. They are ruthless evil people who have no problem sacrificing their family for their political aspirations. In the short term, as they unleash World War III, the dollar will be the strongest currency as capital always flees from conflict. We really need impeachment Biden because he’s a dangerous puppet who reads everything neocons write on cue cards. Then we really need to start investigating these neoconservatives who have usurped US foreign policy for decades and have never been held accountable.
Now many people ask what is a small bank. As a rule, these are local regional banks. The problem is that if they just make decisions based on the talking heads on TV, then there are huge problems ahead of them. To be diversified, at this point in 2024 you can look at US Treasury bills from 30 to 90 days maximum. Not every bank has problems. You should ask if they publish their portfolio. The big risk is that the money was basically free and they invested for so long. But as rates rose, they suffered losses.