Prediction-Riddled Economist Says Banks are Already Basically Insolvent!

Everyone knows this!

RT:

Renowned economist Nouriel Roubini, who predicted the global financial crisis of 2008, has issued a grim assessment of US banking sector’s status.

In an opinion piece for Project Syndicate, Roubini, dubbed ‘Doctor Doom’ by Wall Street for his tendency toward bleak predictions, claimed that most US banks are “technically near insolvency,” with hundreds already “fully insolvent.”

The comments came weeks after the US banking sector was hit by a wave of failures after the collapses of Silicon Valley Bank and Signature Bank. The turmoil spread to Europe, engulfing Switzerland’s second-largest lender Credit Suisse, which was forced to merge with rival investment bank UBS.

According to the analyst, the pandemic-related economic decline aggravated the underlying vulnerabilities in the country’s financial system, leaving many financial institutions in shaky positions.

It’s happening now, buddy.

You’d better do the thing.

You know the thing, buddy.