MarketWatch/Vivien Lou Chen/3-23-2023
“Despite quick action by regulators and policymakers, there’s a rising risk that banking-system stress will spill over into other sectors and the U.S. economy, ‘unleashing greater financial and economic damage than we anticipated,’ said Moody’s Investors Service, one of the Big Three credit-ratings firms.”
USAGOLD note: With reports that the Treasury Department and Fed are scrambling to develop solutions, the ordinary investor needs to take precautions. There have been times in economic history when things couldn’t be contained, leading to the worst outcome – either an inflationary or deflationary breakdown. Thus far, we have avoided the worst, but perhaps, as Moody’s suggests, we’ve been pressing our luck.
