Hi Folks. I have no idea what to expect Monday and Tuesday, but it doesn't feel good.
Used car lots closed last week after CARVAX(spelling?) closed. They financed low FICO car loans.
When it closed the following day or two car lots closed.
When big banks close there goes all credit on the streets. Period.
Some big banks will remain open to buy and sell, but will no longer lend to anyone not a Deep State Organization.
This is my fear.
I feel we will know the direction of things around 2 PM tomorrow.
I posted an article that the FDIC is auctioning off assets this afternoon.
(for non-bankers, that is banking lingo for "cutting the pie.")
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We are fully stocked with supplies. The next few days will be used to restock the house with long term comfort foods: Pickles, fudge mix, brown sugar, jelly, etc. All of the items not in our survival foods.
Used car lots closed last week after CARVAX(spelling?) closed. They financed low FICO car loans.
When it closed the following day or two car lots closed.
When big banks close there goes all credit on the streets. Period.
Some big banks will remain open to buy and sell, but will no longer lend to anyone not a Deep State Organization.
This is my fear.
I feel we will know the direction of things around 2 PM tomorrow.
I posted an article that the FDIC is auctioning off assets this afternoon.
(for non-bankers, that is banking lingo for "cutting the pie.")
______________________
We are fully stocked with supplies. The next few days will be used to restock the house with long term comfort foods: Pickles, fudge mix, brown sugar, jelly, etc. All of the items not in our survival foods.