Comments by "Kristopher Driver" (@paxdriver) on "How Close Are We to a Global Financial Collapse?" video.

  1. This is full of misinformation imho. Firstly, a run on the bank caused the collapse of svb, so to say it can't happen to other banks because they carry swaps is ignorant of the run itself. Secondly, nothing in this financial system is isolated, everything cascades. Third, "healthy" and "stable" is not even statistically accurate. Debt has skyrocketed. If we assume people repay their debts eventually we're either facing an era of austerity, poverty or bankruptcies and insurance claims. The system is entirely standing on unfunded liabilities and that's what the financial data show. If fear and trust are necessary at all then the system is not stable by definition since it relies on emotions. Lastly, duration risk and liquidation costs are not factored into stress tests, so the data again don't suggest stability or a healthy system. This whole video sounds like something the government would produce to inspire confidence due to their rational fear we might one day realize the system doesn't merit confidence lol
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