“Oh Oh!”

Banks across America are sitting on $620 billion of ‘unrealized losses’ – assets which have decreased in value but have not yet been sold – – the head of the Federal Deposit Insurance Corporation warned.

News of the worrying shortfall came amid the closure of Silicon Valley Bank – the largest collapse since Washington Mutual in 2008.

As the government scrambles to prevent contagion, the Federal Reserve announced on Sunday night that all depositors would get their money back.

Wall Street Braces for the Next Silicon Valley Bank

Investors were worried that the fastest interest-rate increases in decades meant that something in the economy might break.
Last week, it did. Now, investors are asking: What else might crack?

… “I think this could be the first cockroach in the cellar,” said Fredric Russell, chief executive of Fredric E. Russell Investment Management Co. in Tulsa, Okla. “Banks get thrown into the dark pool of complacency, and then they lower their quality standards.”

Here’s what’s being done to prevent crisis from Silicon Valley Bank collapse

NEW YORK (AP) — Governments in the UK and U.S. took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down.

The UK Treasury and the Bank of England announced early Monday that they had facilitated the sale of Silicon Valley Bank UK to HSBC, Europe’s biggest bank, ensuring the security of 6.7 billion pounds ($8.1 billion) of deposits.

British officials worked throughout the weekend to find a buyer for the UK subsidiary of the California-based bank. Its collapse was the second-largest bank failure in history.

CBC may woke itself to death.

President Brandon and his dainty sidekick, Mayor Pete, would have their constituents believe the East Palestine trainwreck site is under control. Everything is fine.

White privilege means poisoned water and air.

Two years ago, Transportation Secretary Buttigieg announced that he was making the fight against “systemic racism” into the core of his job. The failed South Bend mayor came out of the gate claiming that highways were racist. Last year, he went to Birmingham to announce the launch of a $1 billion plan to tear down racist highways and implement transportation equity.

EAST PALESTINE, OHIO – Wade Lovett’s been having trouble breathing since the Feb. 3 Norfolk South train derailment and toxic explosion here. In fact, his voice sounds as if he’s been inhaling helium.

“Doctors say I definitely have the chemicals in me but there’s no one in town who can run the toxicological tests to find out which ones they are,” Lovett, 40, an auto detailer, said in an extremely high-pitched voice. “My voice sounds like Mickey Mouse. My normal voice is low. It’s hard to breathe, especially at night. My chest hurts so much at night I feel like I’m drowning. I cough up phlegm a lot. I lost my job because the doctor won’t release me to go to work.”

‘The distrust I’ve witnessed is shocking to me’

When I arrived in East Palestine, Ohio, on Wednesday, the quaint Main Street was a red, white and blue sea of people waiting in chilly, drizzly weather for Donald Trump to arrive. I met up with Brian and Samantha, who live three miles from the site of the Norfolk Southern train derailment. They were acting as Tulsi Gabbard’s tour guide and graciously invited me to tag along.

For three decades, Barbara Kugler has lived less than a block from the Norfolk Southern railway line that crosses through East Palestine, Ohio. Up until this month, the sound of an oncoming freight train’s warning whistle—long, long, short, long—used to be a comfort.

But now when she hears it, she tenses.

Hundreds of residents of the Ohio village upended by a freight train derailment and the subsequent burning of some of the hazardous chemicals on board, have questioned officials over potential health hazards.

Norfolk Southern, the rail operator, did not join Wednesday night’s meeting in East Palestine – which was billed as an open house gathering with local, state and federal officials – because of concerns for their staff’s safety.

“Unfortunately, after consulting with community leaders, we have become increasingly concerned about the growing physical threat to our employees … around this event stemming from the increasing likelihood of the participation of outside parties,” the railway said in a statement.

A train carrying toxic chemicals derailed and ignited a fire in East Palestine, Ohio, on Feb. 3, setting off evacuation orders and a federal investigation. Now there are worries about the environment and transportation network.

Here's what we know. https://t.co/yUqGXpjJLF pic.twitter.com/sGA3WpuOKX

— The New York Times (@nytimes) February 16, 2023

Here’s a link to the NYTimes article in the tweet above: After the Ohio Train Derailment: Evacuations, Toxic Chemicals and Water Worries

In several previous articles, I addressed what I believe to be the crucial issue of our time, namely, the institutionalization of the lie in culture and politics. The situation shows no sign of abating and indeed grows more alarming with every passing day. The integrity of the information we receive about domestic and world affairs has been degraded almost beyond recognition. Reality has been denatured. For the Lie has become a systemic and indelible part of public and institutional life. The dilemma we now confront, as D. Stephen Long points out in an important book dealing with the relation between relativism and authoritarianism, is speaking truth in a post-truth world.

The slope keeps getting slipperier and slipperier. Monogamy is the next Western social norm to go on the chopping block.

An Atlanta City Councilwoman has “come out” a second time–this time as polyamorous. She came out as gay before, causing no consternation, but now she has revealed that she has been in a committed relationship with two women and that they plan to raise a family together.

The underlying pressures driving inflation in Canada are likely to peak in the fourth quarter of this year, economists told Reuters, though most see signs fast rising prices are becoming entrenched and warn a recession may be needed to avoid a spiral.

Canada’s inflation data for August will be released on Tuesday, with analysts forecasting the headline rate will edge down to 7.3 per cent, from 7.6 per cent in July and a four-decade high of 8.1 per cent in June.

Reports are coming out of China that indicate it may be on the brink of becoming more unstable. This week, The Wall Street Journal reported that Country Garden, one of China’s largest real-estate developers, saw a 96% decline in profit for the first half of the year. The property market in the Communist country has entered a severe depression, as other real estate firms also meltdown in real-time.

The intensity of the leftist thought tyranny project has exploded in recent years, and continues to startle us. It has been explained quite well by a computer whiz named  David Rozado, now a professor of computer science in New Zealand, on the pages of the Journal Academic Questions, published by a conservative association of Academics, the National Association of Scholars.

Dr. Rozado is, in effect, studying the structure of a PsyOps project on a wide scale.  Rozado writes an incredibly important research paper on memes and themes in academic and popular literature — how our Orwellian world is being created and people are taught what to think and what to consider important. He does it by way of technology that reminds me of Lexis on steroids.

Men have been sacrificed to progress

The Tories’ women problem is back. Polling suggests that Labour are on track to win over 17% of the women who voted Tory in 2019, but barely 3% of men. But it seems unlikely that this shift is a consequence of the two sex scandals that precipitated this week’s by-elections — after all, tutting at sexual indiscretion is more a feature among conservatives than today’s “sex-positive” progressives.

Protesters filled the streets of London as thousands marched against the rise in the cost of living in Great Britain.

Inflation is no worse in Great Britain than it is here, but prices for food and fuel are rising faster because of the war in Ukraine. Imports of oil and grain from Russia and Ukraine have dropped precipitously, driving up the cost of the basics.