Crisis? What Crisis? First Republic Bank Headed For FDIC Receivership, US Yield Curve Plunges, Bank Lending Plunges, Middle Class Shrinks Under Biden/Yellen – Confounded Interest – Anthony B. Sanders

Crisis? What crisis?

First, First Republic bank is most likely headed for FDIC receivership, sources say; shares drop 40%.

Second, we have the US yield curve (3M T-yield – 18M FWD 3M T-yield) crashing to the most inverted since the 1990s.

Third, we have US bank lending crashing.

Fourth, we have a shrinking middle class. Way to go Biden/Yellen/Powell!

I wish I could sing “Goodbye Biden and Yellen.” And Foul Powell too.

Is that Mayor Pete??