2023/03
This is not good news for the failing Obama/Biden economy.
Goldman Sachs is so pessimistic about the economy that it is increasing the odds that the US will go into a recession this year.
The economy took a major blow over the weekend when the Biden Administration announced that it would protect all assets in failed Silicon Valley Bank and Signature Bank.
This action confused Americans because the FDIC promises to insure individual accounts up to $250,000.
Biden is protecting all accounts and this action brings more uncertainty to the markets.
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