With Joe Biden at the wheel, the American economy is going haywire.
Now Tucker Carlson is hitting the panic button.
And there’s one critical item he says every American needs to buy to survive the Biden regime’s collapsing economy.
The recent failure of the Silicon Valley Bank is in the record books as the second largest bank to go under in American history.
It’s only eclipsed by the staggering fall of Washington Mutual Inc. in 2008.
Silicon Valley Bank went under in dramatic still after it reported a $1.8 billion in loss thanks to skyrocketing interest rates.
That news created a panic resulting in the bank’s stock going into freefall.
Next came a run on the bank with customers—most which had more in there than the $250,000 FDIC insurance limit—yanking their money out.
The night after the Silicon Valley Banks were shut down and put into FDIC receivership, Tucker Carlson warned Fox News viewers that the run on banks and associated economic instability is the natural fallout caused by Joe Biden’s disastrous economic policies.
At this point he told viewers to stock up on food—and gold—in case of a complete economic meltdown.
“We’re starting to get a better, more precise sense of what it means when Joe Biden brags about the strongest and most equitable economic recovery in history,” Carlson cautioned. “What it means is it could be time to buy gold and stockpile food.”
“Some of the biggest banks in this country, Wells Fargo, Bank of America, J.P. Morgan, Morgan Stanley collectively lost more than $50 billion in market value in one day. That’s quite a hit. On the other hand, those banks still exist,” Carlson noted. “You can’t say that for Silicon Valley Bank. As of this morning, Silicon Valley Bank, or SVB, has gone under completely. That makes the second biggest bank failure in the history of this country.”
Stocks for other small banks also dropped as investors and account holders started questioning the stability of other institutions.
Carlson added that he hopes the contagion doesn’t spread.
“This could be very, very, very serious. We hope it’s not,” Carlson pointed out. “We hope it ends today in an isolated story.”
Of course, since then Signature Bank has also been added to the failed bank list and several others are reportedly being watched closely.
Moody’s already downgraded the entire banking sector, predicting rough waters ahead.
Of course, Democrats started immediately calling for bank bailouts. Rep. Eric Swalwell, reliable socialist, arguing that since the federal government only guarantees bank deposits of up to $250,000 a bailout is needed to protect the little guy.
However, a stunning 93% of accounts in Silicon Valley Bank were above the $250,000 limit.
Clearly, Swalwell wants to bailout wealthy tech companies—many deeply entrenched in the Left’s woke environmental, science, and governance (ESG) schemes.
And he doesn’t seem to be concerned about the “little guy” who will end up paying taxes to support the Biden regime’s latest spend and burn plan.
Conservatives are already worried about big government and big tech hijacking more taxpayer dollars to serve their own agendas.
Political Animal News will keep you up-to-date on any new developments in this ongoing story.