Five Observations

 1. I sat and watched a financial podcast this AM.....talking over his experience in trying to get cash yesterday (with the IT failure), and failing.

So he got onto the subject of FDIC, and the long-winded discussion of expected bank failure (either at the end of 2024 or into the spring of 2025).  He says....with some facts....FDIC is crapped-out, and will be unable to sustain this approaching failure.

What he expects?  About 3 or 4 days into this national bank-failure trend....Congress will pass a measure to enable FDIC to  'tax' US banking institutions...allowing them to 'grab' your savings/checking funds to a certain percentage....maybe 5-percent....maybe 10-percent.....which would float over into FDIC....to keep banks solvent.

I pondered over this.  If I had $3,000 total in my checking/savings....I probably wouldn't grumble much.  If I had $150,000....yeah, I would not appreciate losing $15,000 of my money.  If I had half-a-million....losing $50,000 would really peeve me.

He has a point....in that FDIC was never designed to handle massive bank failure.   I suspect he also has a point in that taking wealth who can afford it....is the only way to save these banks.  But the closer we get to this day, and it becomes apparent.....wouldn't half of society rush up to their bank and ask for $100,000 in cash....to hide in some basement or barn or garage?

Crazy times.

2.  Exit deal for Biden?  Based on chatter....he's peeved about all the talk and doesn't want to exit.

Governor Whitmer of Michigan....now leading in some polls as the replacement?  

3.  Odd statistic.....more men paying off their college loans....than women, based on the fact that more men took engineering degrees.

4.  Polling done after the assassination attempt.....80-percent of people say the country was 'out-of-control'.   

5.  Some polling in NY state says it's flip-possible to Trump now.  It would shock  a lot of  Democrats.