Crack Silicon Valley Bank and the ECB’s move: will Lagarde follow common sense or will she continue to be a hawk? The analysis
Incredible! In a note, according to the Goldman Sachs, the Federal Reserve would be about to not proceed with the expected increase in interest rates. Now, not to be ironic, but we really needed the slip of the Silicon Valley Bank and of Signature Bank why there was a stop to the massacre of the economy and finance? And then, to defend what? Today we saw our banks drop with losses reaching 9.01% while the FTSE MIB dropped 4.03%.
READ ALSO: Silicon Valley Bank shakes the stock exchanges: Milan in the red, the banks collapse
And from the US price lists we read that they are different Midle Bank have suffered sharp declines, even causing US President Jo Biden to intervene to reassure the markets with a heartening “The US banking world is solidand it’s a phrase we’ve all heard since then President Bushto then discover that to plug the scourge of deregulation, suffered with subprime mortgages, CDOs, CDSs, etc., it cost the American taxpayer the tidy sum of 700 billion dollars and a long financial trail around the world which looks like it hasn’t finished yet since 2008.
READ ALSO: Crac Silicon Valley Bank, thousands of start-ups and workers at risk
Obviously the European Commissioner also joined the chorus Gentiloni, head of the economy, also with reassuring words. Now what still doesn’t reassure us are the possible ones “harsh” positions taken by President Lagarde. It took two bankruptcies and a state of “fear” to stop raising rates in favor of the pseudo “retro” banking culture (backward and old position) and coincidentally one of the reasons is precisely the persistence of the indiscriminate and little justified increase in interest rates.
Mrs. Lagarde You said you don’t want to hit the economy, let’s see if that’s true. I’m not used to making tirades, but it’s not possible to repeat the same things every time (and I’m not the only one) when authoritative economists and entrepreneurs shout out loud: STOP, STOP! Let’s hope that at least in the face of evidence the rule of common sense will be applied. However it is really true that qWhen Wall Street has a cold, the Italian stock market has pneumonia. You make a virtue out of necessity – Fai di necessita vir
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