Washington’s train-wreck is picking up speed as JP Morgan warns of 8% rates.

Washington’s train-wreck is picking up speed as JP Morgan warns of 8% rates. That would bring double-digit mortgages and bond losses that dwarf the bank crashes we saw last year. Considering FDIC bank insurance is roughly 200 times under-funded, if banks go down they will raid every bank deposit in America to bail them out.

Washington's train-wreck is picking up speed as JP Morgan warns of 8% rates.

That would bring double-digit mortgages and bond losses that dwarf the bank crashes we saw last year.

Considering FDIC bank insurance is roughly 200 times under-funded, if banks go down they will raid… pic.twitter.com/O54VJftt7j

— Peter St Onge, Ph.D. (@profstonge) May 2, 2024

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