https://financialpreparedness.substack.com/p/another-bank-tanks
In conclusion, as this graphic of the Great Financial Crisis shows (zoom in), a banking/ financial crisis can take a number of months to play out, though I think the next one will happen much faster due to significantly greater debt/leverage, moral hazard, complexity, stock valuations (in the U.S.), social contagion, high frequency trading, speed of capital, mistrust of government and institutions, clueless policymakers, rampant inflation, a currency that is increasingly eschewed around the world (the U.S. dollar), a dysfunctional labor market, an (artificial) energy shortage, a failing supply chain, and war (including trade wars). Just like before a major earthquake, there are warning signs. The collapse of First Republic Bank is just a tremor, a warning sign of something much larger to come. Get prepared now.
THANK YOU for this opinion, as it is exactly what i am thinking as well...seems like we who have worked our whole lives, saved for retirement, and now we are faced with what looks like a casino roulette bet on red or black...prepared as i can be, so what it's really all coming down to is: do i believe Trump will take care of us little guys like he has promised...i am placing my bet on my President Trump...that settles it!
I feel for you. My folks are in the same position as you, yet refuse to fully wake up and make their bet more safe.