The talking heads on financial TV ask everyday where we are in the banking crisis. Is it over yet? After scooping up First Republic, JP Morgan’s Jamie Dimon said, “This part of the crisis is over.” After he said that, however, the shares of regional banks such as PacWest, Zions, and Western Alliance were cut in half. The market doesn’t believe Mr. Dimon.
Elisabeth Kübler-Ross described five stages of grief: denial, anger, bargaining, depression, and acceptance. On Twitter, describing the typical timeline for a banking crisis, Real Vision’s Raoul Pal posted : It’s one bad apple, Well maybe it’s just a few “Banks remain strong” It’s the evil short sellers (we are considering a ban) Ok, now we are banning shorts Oh, seems that didn’t work Cut rates That didn’t work Panic Change . . . Kübler-Ross’s denial stage would include Pal’s “one bad apple,” “just a few,” and “Banks […]
Excerpt Sourced From: ourgoldguy.com