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LBRY Claims • banks-prepare-for-heavy-losses-several

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26 Feb 2021 22:00:48 UTC
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Banks Prepare For Heavy Losses Several Banks Record Loan Loss Provision, Economic Recovery Reverses
Banks are preparing for heavy losses from bad loans in fact several large banks have set aside record loan loss provisions and are now warning of a potential W-shaped recovery instead of a V-shape. Wells Fargo seems to be the weakest link as their heavy exposure to commercial real estate could begin to weigh on the bank's balance sheet, they also revealed in the earnings report they have a lot of non-performing loans mainly oil and gas companies and retail customers. Earnings season is here and it shows us some very troubling things now and even worse in the future as even JP Morgan is warning this is not a regular recession and we will be seeing recessionary forces moving into the picture soon enough. Looking at the total loans that have been falling into delinquency it's likely the banks will increase the provisions for losses much higher as many seem very unprepared and have also begun to cut their dividends. The crazy thing is they have been trying to convince everyone that the economy is doing great and about to roar to life in the 2nd half but the truth is they all know it's turning sour and no one wants to acknowledge it because they're trying to keep the stock market bubble pumped up as long as possible. We also take a look at economic activity in several states which has not just stalled but has begun to reverse in many sectors beginning in late June. The Feds economic activity indicator also shows any recovery that they say has happened is very weak and could hardly be referred to as recovery. Foot traffic has dropped for dining and malls as well as travel. These sectors have been relentlessly chased by retail investors thinking they are on the edge of something big but they are not being honest as it's clear the banks are preparing for a very serious economic event to begin setting in around the time the stimulus wears off. All of the big banks that have reported their earnings have acknowledged their economic predictions have deteriorated sharply as the economy begins to take on water.
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https://www.youtube.com/watch?v=gDnE0AN9QfY
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