20230315-Are You Scared Yet? Bank Failure Edition

I've asked it before, but it bears repeating, "Are you scared yet?"

Last weekend America's 14th (or 16th) biggest bank collapsed. "Get woke, go broke?"

Not so much, SVC bank was actually rather conservative in its holdings portfolio. Yes, it was run by wokester appointees from the Jugears administration, but they had decent currency reserves, and large bond holdings.

Unfortunately, between President Senile Kiddie Toucher, and President Cheeto before him, the FOMC has pumped so much money into the system, inflation has dropped it into overdrive.

So they've ratcheted up the interest rates, and bonds are...not such a good investment any longer.

Yeah, so a bank went bust. So what?

So, the entire California wine industry is now at risk because they lost their cash reserves.

But it gets worse, much, much worse...