The failure of two mid sized banks. How extensive is this problem? Well, I think the problem is quite extensive in the sense that The context for this [financial panic] is more than a decade of excess, excess in spending that was accelerated dramatically under Joe Biden with more than $10 trillion of incremental spending and 40% increase in discretionary spending. but also a decade of excess in the sense of extreme low interest rates. And that has created an environment where investors have allocated capital as if it were risk free. (00:57–01:12)
CLAIM
Asserts that over $10 trillion in spending and a 40% increase in discretionary spending occurred under Joe Biden.
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