Mission accomplished.

Over the past five months there have been numerous articles about the Fed hiking until something breaks. And now we have our first break. I think they thought the labor market would break first... but....there are obviously less people alive and capable to fill those positions.

We have also reached the stage where every time they say something "is not" something else - it absolutely is. 

"Silicon Valley was heavily exposed to tech industry and there is little chance of contagion in the banking sector similar to the chaos in the months leading up to the Great Recession more than a decade ago. The biggest banks — those most likely to cause a systemic economic issue — have healthy balance sheets and plenty of capital." (emphasis mine and LOL) Source.

I'm still trying to understand the details, but it looks like a combo of a bond problem and deposits drastically falling. Which I imagine is every banks problem right now. Silicon Valley Bank was not subprime. Even I thought about using it from time to time. They were very stable through the housing crisis.

It's unknown if the Fed can stop raising. There is still way too much money chasing to few goods and services. And just because the too much money element is taken away, doesn't mean you get more goods. 

I was just in Best Buy this weekend and wound up taking pictures. My second store because the one in Santana Row freaked me the hell out. I even asked them if they were remodeling because the one close to me just did.

Best Buy right now is looking like Fry's did when I started taking pictures. If I didn't know better I would think they were going out.

China is a complete black hole right now. They are in the middle of a collapse and the people I normally follow are coving the US. But from what I have seen, reopening China is pretty much a failure. And if y'all remember...... during the housing crisis China started building all those Ghost cities which pretty much saved the global economy. Now they are literally blowing them up. China is not going to be there for you this time. 

This is global.

I have said since the beginning that just because the economy is open doesn't mean it is saved. People believed a lot of lies over the past three years, and now they get to live with those consequences. All of those FOMO people are FUCKED.