Is it true that, as of yesterday, bank account balances are plummeting?
Now, I straight away say that I’m not an expert in economics, so you have to bear with me for a bit. But afaik this is an unprecedented situation. I found an image by following a link from a YouTube video. Part of the title of this post is, as a matter of fact, taken from that video. It’s the best way for a non-expert like me to actually describe the situation. Long story short, I viewed the following image which, according to the YouTuber, is evidence of an unprecedented situation. But, you have to see for yourself.
Here’s the proof:
This is the photo released yesterday. All I know is it was a followup from the Silicon Valley and Signature Bank bankruptcy. That’s it. I’m asking here what it means.
If you want a more detailed explanation, here it is:
https://www.youtube.com/watch?v=jdPJZuMsb2o
Also, in the last 3 weeks, the loans and leases has gone down by 100 billion dollars.
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