Economist: We're on the brink of a 2008-style financial crisis

The collapse of Silicon Valley Bank is a harbinger of a larger financial crisis, economist Stephanie Pomboy told Tucker Carlson.

She said we are on the verge of a financial crisis like 2008. We are on the verge of a very serious situation, Pomboy said.

What we are seeing now is that the weak links in the chain are starting to break. The endless supply of new money and huge government spending have created an economic powder keg, the economist warned.

We have encouraged people to take risks for years because there was no alternative," she said.

Silicon Valley Bank collapsed Friday after a bank run. The bank had put much of the money it managed into low-interest government bonds. With the worsening economy, many SVB customers needed more available cash.

Management tried to raise money with an equity issue, but that led to turmoil in the stock markets, which affected customers. On Friday, they tried to withdraw $42 billion from their accounts before the bank collapsed.