Inflation vs high interest rates & unemployment

[pondwater]

I stand corrected. Accordinng to CNN Business 94% of their customer were over the $250,000 insured.

https://www.cnn.com/2023/03/16/investing/first-republic-bank/index.html
 Silicon Valley Bank had one of the highest rates of uninsured deposits
SVB's percentage of both uninsured deposits and deposits that were loaned out is much higher than it is for other top banks. The latter made it more difficult for the bank to get access to cash when customers started pulling out their money.Split bar chart that shows the percentages of Silicon Valley Bank's uninsured deposits and deposits that were loaned out are much higher than they are for other top banks.

Bank of New York Mellon 97% Uninsured Deposits & 31% Deposits that are loans or held-to-maturity securities
Silicon Valley Bank - 94% Uninsured Deposits & 94%  Deposits that are loans or held-to-maturity securities
State Street Bank and Trust Co.- 91% Uninsured Deposits & 40% Deposits that are loans or held-to-maturity securities
Signature Bank - 90% Uninsured Deposits & 93% Deposits that are loans or held-to-maturity securities
Northern Trust Co. 83% Uninsured Deposits  & 55% Deposits that are loans or held-to-maturity securities

What I don't understand is why anyone would hold more than $250K in a single bank since anything over that isn't insured.

That seems as stupid as the Government printing endless supply of money to freely hand out to other countries, bailout crooks and substandard businesses, fund other countries wars that have nothing to do with us, attempt to pay off loans that legal adults agreed to paid off, etc, etc, etc.

Seems like stupidity doesn't discriminate when it comes to money and finance

[Dave Gray]

What I don't understand is why anyone would hold more than $250K in a single bank since anything over that isn't insured.

From what I understand, it was mostly companies payroll and stuff like that.

[CF DolFan]

I don;t think that's an issue or at leasy not a big issue. I think million of people are making money online so they are no longer in the work force. It's absolutley astonishing how many people are making high 6 figures showing their ass, feet or making tik toks.

LOL ... You guuys may have known but I recently learned that OF has killed the stripper market. Many clubs are closing because they can't get anyone to work. Who would want to do it in person when you can do it for millions online? The NET is definitley affecting the work force. 

To build off this point ... I saw a Pew study over the weekend that said over 7 million men under 32 live at home with their parents and are not either working nor seeking employmet. That's freaking huge. Why it was just on men I don't know but that alarming. I think my generation has coddled their children way too much.

[pondwater]

To build off this point ... I saw a Pew study over the weekend that said over 7 million men under 32 live at home with their parents and are not either working nor seeking employmet. That's freaking huge. Why it was just on men I don't know but that alarming. I think my generation has coddled their children way too much.

LMFAO, a report a couple weeks ago said that only 35% of unmarried males said they were in a relationship. But 65% of unmarried females reported as being in a relationship. Yeah, that math doesn't add up. The majority of people born after GenX are fucked in the head. The parenting has definitely gotten worse over time.