The FDIC's most recent report tells us that there are 63 "Problem banks" in the United States, and collectively our banks now have 517 billion dollars in unrealized losses.
According to the Federal Deposit Insurance Corporation's first quarter report, the US banking system is sitting on a collective $517 billion in unrealized losses and has 63 "Problem banks."
Unrealized losses held by banks increased by $39 billion in the first quarter relative to the fourth quarter of 2023.
We don't get to know which banks are in trouble.
The condition of our banks just continues to deteriorate because mountains of commercial real estate loans are going bad. At this point, it has become clear that we have never faced a commercial real estate crisis of this magnitude in our entire history.
A new survey reveals that over two-thirds of small business owners are terrified of the state of the economy under Joe Biden's watch, fearing that current conditions and ongoing downward trends will lead to them having to close their businesses.
Our entire system really is crumbling all around us, and as it crumbles we are going to see chaos on a scale that most people don't even want to imagine.
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