The economy is flying off the rails in Joe Biden’s America.
People are starting to panic.
And now Tucker Carlson just told every American they need to buy one critical item to survive economic collapse.
Silicon Valley Bank became the second largest bank failure in American history.
The only larger collapse was Washington Mutual Inc. during the 2008 Great Recession.
Silicon Valley Bank collapsed after suffering $1.8 billion in asset losses thanks to high interest rates leading to rush on customers pulling their money out of the bank.
The night of Silicon Valley Bank’s collapse, Carlson warned viewers that a run on the banks are the direct consequences of Joe Biden’s failed economic policies and that they should stock up on food and gold in case of a complete economic meltdown.
“We’re starting to get a better, more precise sense of what it means when Joe Biden brags about the strongest and most equitable economic recovery in history,” Carlson warned. “What it means is it could be time to buy gold and stockpile food.”
“Some of the biggest banks in this country, Wells Fargo, Bank of America, J.P. Morgan, Morgan Stanley collectively lost more than $50 billion in market value in one day. That’s quite a hit. On the other hand, those banks still exist,” Carlson added. “You can’t say that for Silicon Valley Bank. As of this morning, Silicon Valley Bank, or SVB, has gone under completely. That makes the second biggest bank failure in the history of this country.”
Stocks for other small regional banks tumbled on the news of Silicon Valley Bank’s collapse and Carlson expressed his hope the contagion would not spread.
“This could be very, very, very serious. We hope it’s not,” Carlson added. “We hope it ends today in an isolated story.”
Silicon Valley Bank was the preferred institution for many tech industry start ups.
And Democrats were already calling for a bank bailout with socialist Congressman Eric Swalwell warning that the federal government only guarantees bank deposits of up to $250,000.
Swalwell claimed a bailout would be protecting the little guy.
Bank management must be investigated. Risk-taking investors should not benefit. But bank customers and innocent employees depending on paychecks should not suffer for greed and recklessness of the wealthiest.
— Rep. Eric Swalwell (@RepSwalwell) March 10, 2023
But 93 percent of accounts at Silicon Valley Bank were over $250,000.
Swalwell wants to bailout a bank home to wealthy tech companies that also invested its money in woke environmental, science, and governance (ESG) schemes.
Conservatives were already lining up in opposition to any bailouts.
If the U.S. government bails out SVB, we should rightly expect an “Occupy Silicon Valley” movement of historic proportions. And unfortunately it will be justified.
— Vivek Ramaswamy (@VivekGRamaswamy) March 12, 2023