More Deposit Flight And Potential US Credit Downgrade

More Deposit Flight And Potential US Credit Downgrade

The deposit flight hitting US banks continues to grow with a record $174.3 billion in retail deposits leaving banks. It’s not just the retail banking sector that is experiencing this. The commercial bank deposits are down $947 billion. It’s a red flag for the banking sector in general.

As if that isn’t enough, IS debt faces another potential credit downgrade due to looming shutdowns, relentless spending and fiscal irresponsibility. These are all tremors preceding the financial earthquake that is in our future.

$174,303,000,000 in Deposit Flight Hits US Banks in Three Months As S&P Global Declares Banking Industry Is ‘Gradually Shrinking’
https://dailyhodl.com/2023/11/11/174303000000-in-deposit-flight-hits-us-banks-in-three-months-as-sp-global-declares-banking-industry-is-gradually-shrinking/amp/

U.S. debt in danger of downgrade by Moody’s as shutdown looms
https://www.politico.com/news/2023/11/10/u-s-debt-in-danger-of-downgrade-by-moodys-as-shutdown-looms-00126680

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