It’s been a Wild Month
Tuesday, March 28th, 2023
Over the course of the last few weeks, we've seen the collapse of Silicon Valley Bank, and Signature Bank, and the Feds stepping in to reassure the depositors that everything will be OK, every deposit will be made whole, and the only losses will be to the stock holders of SVB. It's something that they didn't have to do, by regulation, but they did to return confidence to the smaller banks, and keep the deposits from being moved to the top-10 banks, and cause a real problem in all the smaller banks.
Still, it's faded from the headlines, and while The Journal is still covering it, it's not USA Today anymore, and that means that the bulk of the crisis is over - that of the lack of confidence in the system. People are no longer concerned, and that's really very good news.
The job market is still a mess... and it's going to take the financial markets to stabilize and start to head up, for the job market to return. It's confidence that drives good hires, not desperation. Still, this is just another cycle, and we'll weather it.
There are better days ahead. 🙂