Kevin O’Leary warns chaos is about to begin for US economy: ‘Wake up and smell the roses’
“We have a crisis emerging. … I’m talking about companies with five to 500 employees, which represent over 60% of our economy,” O’Leary said.
“If you’re in the S&P 500, you have no trouble financing your business. You can’t say that about small business anymore. The cost of capital has gone through the roof.”
O’Leary warned that currently there are approximately 4,100 regional banks and this will go down to 2,000 in the next three years, leaving people worried about putting their money in banks.
The FDIC is proposing a forced capital (debt) increase for ALL banks because they know what's coming – total wipeout of the deposit insurance fund.https://t.co/8VfurNpBXq
And yet, lowest bank vol since Feb. '20. pic.twitter.com/5MxQWqtKN2
— Mac10 (@SuburbanDrone) August 29, 2023
Been there, done that. pic.twitter.com/FYnfRvOv3d
— Mac10 (@SuburbanDrone) August 30, 2023
Let’s see…what happened the last time we saw the blue line parabolically gap up in a short period of time?
I’ve got this rhyme on repeat for a reason https://t.co/7rftTcD6Uc
— Amy Nixon (@texasrunnerDFW) September 2, 2023
h/t Simian_Stacker