The nation is bracing for yet another financial collapse. Banks across the country are crumbling under pressure from inflation, rising interest rates, falling bond prices, and outright bank runs.
The federal government has taken over Silicon Valley Bank and Signature Bank. Credit Suisse and Silverglate are also in trouble. Trading on a half dozen others had to be halted recently, though trading has resumed. Officials are still scrambling to ease nerves about the stability of America’s financial markets.
To reassure the American people and calm increasingly skittish global markets, Washington DC sent out its foremost expert on finances, the eloquent and energetic Commander in Chief himself, Joseph R. Biden.
“Last week, when we learned of the problems of the banks and the impact they could have on jobs, on small businesses, the banking system overall, I instructed my team to act quickly to protect these interests, and they’ve done that.”
As White House press secretary Karine Jean-Pierre said last month, that “team” is the most racially, ethnically, and sexually diverse in American history.
“The Cabinet is majority people of color for the first time in its history. The Cabinet is majority female for the first time in history. A majority of White House senior staff identify as female, 40% of White House senior staff identify as part of racially diverse communities, and a record seven assistants to the president are openly LGBTQ+.”
“As I once said, the American people have nothing to fear but fear itself. Is a financial collapse inevitable? Yes it is, but the hardworking men, women, dual genders, Demi-boys, intersex, pansex, omni-gendered, polygendered, and non-binaries of this great country should rest assured that this will be the most diverse, equitable, and inclusive financial collapse in the history of financial collapses, and that’s something to be proud of.”
“This will be the legacy of my Administration,” he said, “and I couldn’t be prouder.”
We here in DogFacePonia have no doubt this collapse will be more equitable. Russia said it will not be impacted by the banking collapse as Western Sanctions excluded them. All these White Russians will not get their share of the collapse. During to the Trump presidency more African Americans experienced prosperity. They will get to experience that lost under Biden. Once again Democrats can blame or thank Trump.
Wilbur writes for The Conservative New Mexican check out other stories by him there.