The liquidity mismatch you describe hits at the core of why mortgage lenders still rely on verificaton of deposit processes despite the paperwork burden. When banks face cash crunches like SVB did, having real time confirmation of borrower deposit balances becomes even more critical for underwriting. The overnight repo surge signals that lenders might need to tighten their VOD requirements if this imbalance persists.
Stagnant Manufacturing in the West is a long term problem. Machines wear out. We [USA] are not building quality products and I think that mandated health care costs and regulations are partly to blame, but the pay and cushy benefits of public sector employers draw workers away from manufacturing. The market for 'workers' has been skewed towards the collective and away from the private sector and the producers..... A=A.
It’s official: Mayor Jacob Frey wins a third term as Minneapolis mayor, defeating fourteen other candidates - solely because all the rest were weirdos and extremists. I swear the only reason Frey won his first term is that he’s a “pretty boy” like Trudeau (not ruggedly handsome like you are, Peter).
Cutting-edge analysis, Peter - you are once again amongst the first to see the storm clouds bubbling up.
So, the question I have today is: how will the election results affect this banking situation? On the one hand, the financial world already expected New York to elect a far-left disaster, and CA to enact further nuttiness, so there’s little surprise in the election. On the other hand, the ruin coming to NY is now a reality. Will it spark enough concern to push some financial metric over the edge? Any new concerns, Peter?
To be fair, this like the National Weather Service spotting a tropical depression in the middle of the Atlantic and pointing out that the conditions do not rule out a category 5 hurricane.
As for the impact of the election results, there is none. The world has known that New York was going to elect a corrupt and clueless socialist as Mayor. The other Democrat victories are also not unexpected, not even the Virginia AG after revealing himself to be a closeted violent psychopath. That's what appeals to Democrats, violence, anger, and hatred.
The Democrats are now committed to the path of degeneracy and destruction, but they are not yet in a position to disrupt the nation's finances. After the midterms that may change.
The only real metric that has changed is the countdown to civil war has advanced a couple notches
Well, on a positive note, the election news from Minnesota is hopeful. The “mini-Mamdani” Socialist Somali Minneapolis mayoral candidate, Omar Fatah, has NOT won! It’s ranked-choice voting, so the tabulation is not finished, but Mayor Jacob Frey has a ten-point lead over Fateh. Huge sigh of relief! Mayor Frey is as bad as Governor Walz - yes, that bad - but at least my property taxes won’t triple and I won’t have to wear a burka. Slight exaggeration, but Fateh would definitely be horrible for this city. You can put a nice suit on that guy, but his eyes still have the deranged look of a con artist. I think many ordinary voters thought, wait this guy looks just like the desperate Somali pirate in the movie “Captain Phillips”. I sure hope is political career is finished now.
Across the river in St Paul, there was an unexpected upset when Hmong candidate Kaohly Her beat Mayor Carter. Who, you ask? Exactly - Carter was little more than an uneducated inner-city thug who trashed St Paul with rent control and other pathetic policies. Her will likely be only slightly better, but she seems to have more common sense.
The City Council of Minneapolis is still as hopelessly “progressive” as those of Portland or Seattle, but things could be worse. Maybe citizens are starting to wake up to how flat-out stupid all of this Woke progressive stuff is. Watching New York self-destruct may lead to the saving of Minneapolis!
The liquidity mismatch you describe hits at the core of why mortgage lenders still rely on verificaton of deposit processes despite the paperwork burden. When banks face cash crunches like SVB did, having real time confirmation of borrower deposit balances becomes even more critical for underwriting. The overnight repo surge signals that lenders might need to tighten their VOD requirements if this imbalance persists.
One fascinating aspect of this is that loan delinquencies are declining across the board.
Commercial real estate, residential real estate, credit card debt, et cetera--every major category is down a little or a lot. No category is up.
https://fred.stlouisfed.org/graph/?g=1NGrt
Stagnant Manufacturing in the West is a long term problem. Machines wear out. We [USA] are not building quality products and I think that mandated health care costs and regulations are partly to blame, but the pay and cushy benefits of public sector employers draw workers away from manufacturing. The market for 'workers' has been skewed towards the collective and away from the private sector and the producers..... A=A.
It’s official: Mayor Jacob Frey wins a third term as Minneapolis mayor, defeating fourteen other candidates - solely because all the rest were weirdos and extremists. I swear the only reason Frey won his first term is that he’s a “pretty boy” like Trudeau (not ruggedly handsome like you are, Peter).
Cutting-edge analysis, Peter - you are once again amongst the first to see the storm clouds bubbling up.
So, the question I have today is: how will the election results affect this banking situation? On the one hand, the financial world already expected New York to elect a far-left disaster, and CA to enact further nuttiness, so there’s little surprise in the election. On the other hand, the ruin coming to NY is now a reality. Will it spark enough concern to push some financial metric over the edge? Any new concerns, Peter?
To be fair, this like the National Weather Service spotting a tropical depression in the middle of the Atlantic and pointing out that the conditions do not rule out a category 5 hurricane.
As for the impact of the election results, there is none. The world has known that New York was going to elect a corrupt and clueless socialist as Mayor. The other Democrat victories are also not unexpected, not even the Virginia AG after revealing himself to be a closeted violent psychopath. That's what appeals to Democrats, violence, anger, and hatred.
The Democrats are now committed to the path of degeneracy and destruction, but they are not yet in a position to disrupt the nation's finances. After the midterms that may change.
The only real metric that has changed is the countdown to civil war has advanced a couple notches
Yikes, again.
Well, on a positive note, the election news from Minnesota is hopeful. The “mini-Mamdani” Socialist Somali Minneapolis mayoral candidate, Omar Fatah, has NOT won! It’s ranked-choice voting, so the tabulation is not finished, but Mayor Jacob Frey has a ten-point lead over Fateh. Huge sigh of relief! Mayor Frey is as bad as Governor Walz - yes, that bad - but at least my property taxes won’t triple and I won’t have to wear a burka. Slight exaggeration, but Fateh would definitely be horrible for this city. You can put a nice suit on that guy, but his eyes still have the deranged look of a con artist. I think many ordinary voters thought, wait this guy looks just like the desperate Somali pirate in the movie “Captain Phillips”. I sure hope is political career is finished now.
Across the river in St Paul, there was an unexpected upset when Hmong candidate Kaohly Her beat Mayor Carter. Who, you ask? Exactly - Carter was little more than an uneducated inner-city thug who trashed St Paul with rent control and other pathetic policies. Her will likely be only slightly better, but she seems to have more common sense.
The City Council of Minneapolis is still as hopelessly “progressive” as those of Portland or Seattle, but things could be worse. Maybe citizens are starting to wake up to how flat-out stupid all of this Woke progressive stuff is. Watching New York self-destruct may lead to the saving of Minneapolis!