I get to write in The Quickening Report about things that are not directly related to Technocracy. Today, we need to do a reality check on the economic life around us.
Do you remember the collapse of Silicon Valley Bank (SVB) on March 10, 2023? It was sudden, and it shocked the world. However, halfway around the world in Switzerland, Credit Suisse also collapsed.
SVB had a fire sale of $38.3 billion of its remaining assets, while $60 billion stayed in receivership. Credit Suisse had its fire sale for a measly $3 billion, but its suitor posted a profit of $29 billion during the next quarter.
The late Sen. Everett Dirksen (1896-1968) once sarcastically remarked, “A billion here, a billion there, and pretty soon you're talking real money." He was right.