The economy is a house of cards stacked on top of another house of cards that somehow even less stable. Eventually something big enough is going to come and blow it all down and it’s going to be the end of the system as we know it, if things start rolling downhill too fast nothing will be able to stop it
AfricanExpansionist@lemmy.ml 5 weeks ago
I’m still buying and holding GME shares. Waiting for UBS to blow up. They hold all the toxic Archegos shorts from January 2021, that forced Credit Suisse to go under. These shorts will go onto their books on March 21. What comes next?
Swiss National Bank basically forced UBS to take the bags from Credit Suisse. They refused and so SNB sweetened the deal by giving them hundreds of billions in cash-- twice! Now UBS auditors have seen what’s in the bags and they are panicking behind the scenes