Silicon Valley Bank Just Failed – Are We All Screwed?
After a relatively mild start to 2023, it was starting to seem that all the talking heads predictions of an imminent recession were way overblown. Until Friday, that is. That’s when this happened. Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which a bank run and a capital crisis led to the second-largest failure of a financial institution in US history. California regulators closed down the tech lender and put it under the control of the US Federal Deposit Insurance Corporation. The FDIC is acting as a receiver, which typically means it will liquidate the bank’s assets to […]
Crypto Staking: Passive Income Generator or Scam?
You’d think that after Bitcoin’s stunning fall from grace, plummeting from $50,000 USD per BTC all the way down to $16,000 USD at the beginning of the year, we’d stop getting questions about cryptocurrencies. But as the price of BTC has recovered somewhat ($23,884 USD right now), interest is starting to return to the beleaguered crypto space. And with it, the questions. I’ve been reading about crypto staking, and apparently I can make 10%+ in interest just by holding my money in crypto, like a savings account! Why would I invest when I can make this much guaranteed? Anonymous reader […]
Canadian Housing: Buy the Dip or Dead Cat Bounce?
In an interview to a Quebec investment club, the Bank of Canada governor Tiff Macklim reaffirmed our central bank’s official stance that they were pretty much done with interest rate hikes, at least for now. Canadian economists breathed a collective sigh of relief, as it looked like the damage to our housing market caused by rapidly rising interest rates was coming to an end. If new data are broadly in line with our forecast and inflation comes down as predicted, then we won’t need to raise rates further,” Macklem said in a speech to financial analysts in Quebec City. “Inflation […]
Our 2022 Portfolio
Happy 2023, everyone! While I have no idea what 2023 will bring, it would be pretty hard for it to match last year’s casserole of crazy. Inflation, war, spiking gas prices, and the fastest interest rate increase in history made last year a true head-spinner. Personally, I’m rooting for 2023 to herald in that goddamned “Roaring 20’s” we were promised when the pandemic ended. Well, as you know, we here at Millennial Revolution know how to party. So of course FIRECracker and I spent New Year’s Eve knee deep in spreadsheets so we could write this post. So without further […]
Which Way Is The Economy Going in 2023?
It was the best of times, it was the worst of times. Charles Dickens used this phrase to describe 18th century London in the opening to A Tale of Two Cities, but it could easily be used to describe today’s economy. Depending on who you ask, we are all going to be fine, or we could be sleepwalking into a massive recession the likes of which we have never seen before. Predicting the future direction of the economy has never been an exact science, but I’ve never seen a year like 2022. Remember in January, when the big debate on […]