Deutsche Bank is buckling: If you thought the 'banking crisis' was 'contained', it probably isn't.
And it's not simply a banking crisis. "We haven't gotten to 'x' yet."
Once problems like these begin to metastasize, that’s it:
The house of cards continues to crumble at a quickening pace.
We haven’t gotten to Deutsche Bank yet.
Deutsche Bank renewed contagion fears, as credit default swaps (CDS) spreads widened sharply and the stock price dropped sharply. On one hand, there are some key differences, starting with the fact that Deutsche Bank is decently profitable, in aggregate as well as in each of its key components.
None of these structural issues are new, they’ve simply been swept under the rug.
Persistently high interest rates are exposing cracks in the system.
Without low interest rates — banks have increased competition, and are now struggling to survive.
We haven’t gotten to “austerity” yet.
For conservatives, fiscal "austerity" was the answer — limiting debt, deficits, and consequently government spending, in order to put the economy on a sound basis for future growth.
Deutsche Bank also got exposed for ESG scams. I thought UBS, DB, and CS would collapse in that order but now it appears to be the reverse.
Deutsche held the paper for a 70 g loan. Husband died, payments ballooned, had to sell as market was crashing. Had house under contract to pay the 70 g, they phoned in foreclosure, they refused wanted more interest. Took my previously valued 300 g home and sold it for 39 g. I am happy now. Do not feel sorry for them.✝️🇺🇸