WEBVTT - Scholars Corner: Credit Card Crisis: Small Banks Under Siege!

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

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<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

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<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

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<v Speaker 1>filming and selling child pornography in Michigan. These are just

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<v Speaker 1>some of the heinous migrant criminals caught because of President

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<v Speaker 1>Donald J. Trump's leadership. I'm Christy nom the United States

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<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

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<v Speaker 1>crossings are at the lowest levels ever recorded, and over

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<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

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<v Speaker 1>are here illegally, your next you will be fined nearly

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<v Speaker 1>one thousand dollars a day, imprisoned, and deported. You will

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<v Speaker 1>never return. But if you register using our CBP home

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<v Speaker 1>app and leave now, you could be allowed to return legally.

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<v Speaker 1>Do what's right. Leave now. Under President Trump, America's laws,

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<v Speaker 1>border and families will be protected.

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<v Speaker 2>Sponsored by the United States Department of Homeland Security.

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<v Speaker 3>Freddie Carr delinkalis are at a record high amongst small banks.

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<v Speaker 3>Could this be the catalyst for the final round of

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<v Speaker 3>consolidation in small and regional banks.

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<v Speaker 4>I believe so.

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<v Speaker 5>Like if the rate goes up to maybe nine percent

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<v Speaker 5>or maybe ten percent. Because of course it's fine right now,

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<v Speaker 5>and of course I know a lot of people want

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<v Speaker 5>to be flipping about it's GDP that the income ratio

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<v Speaker 5>credit cards are being high, But very rarely when we

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<v Speaker 5>talk to people do I feel even people that I

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<v Speaker 5>know that are rich are feeling a crunch because either

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<v Speaker 5>they're having to take care of more people, they're having

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<v Speaker 5>more expenses and trying to grow to business or sustain

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<v Speaker 5>throughout this period. And I'm seeing a slow collapse of

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<v Speaker 5>the regional banks. Small banks I feel bad for. But

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<v Speaker 5>this is a classic example of the big banks and

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<v Speaker 5>too big to field banks are going to get bigger.

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<v Speaker 5>I feel like Chase is going to be the biggest

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<v Speaker 5>benefactor YEP. As a result, Bank of America they need

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<v Speaker 5>to get their things together or in the next cycle

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<v Speaker 5>in twenty thirty four, they may have a chance of

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<v Speaker 5>going under. I like Brian moren in hand as the CEO,

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<v Speaker 5>but the culture at Bank of America isn't as strong

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<v Speaker 5>as it used to be, especially pre two thousand and eight.

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<v Speaker 5>But just like we saw a whole bunch of banks

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<v Speaker 5>in two thousand and seven, in two thousand and eight

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<v Speaker 5>either get bought or go under. I think we're going

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<v Speaker 5>to see a consolidation in the banking space. And if

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<v Speaker 5>we continue to have record interest rates and people are

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<v Speaker 5>struggling to pay their credit card debts and balances are

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<v Speaker 5>remaining higher, yeah, I think we're going.

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<v Speaker 4>To see some of these get brought up.

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<v Speaker 6>Yeah, you're talking about Lendon Tree put out a report.

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<v Speaker 6>They said that the average US credit card interest rate

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<v Speaker 6>is twenty four point three percent.

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<v Speaker 4>That is insane, almost twenty five average.

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<v Speaker 6>So you know there's a bunch of people that's twenty

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<v Speaker 6>thirty five loan shark, right, So that's that's from a

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<v Speaker 6>credit card. But that's the first delinquacy we need to

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<v Speaker 6>look at. The second delinquacy we need to look at

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<v Speaker 6>is the student loan delinqualcy. That's about because effective this month,

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<v Speaker 6>repayment is back in order and so yeah, well it'll

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<v Speaker 6>take a couple of months to see who can pay

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<v Speaker 6>and who's not going to pay and for it to

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<v Speaker 6>be reported.

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<v Speaker 4>But that's a delinqualcy. We need to look at car loans.

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<v Speaker 6>Those delinquency numbers are going up, and so if we're

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<v Speaker 6>watching all these things go up and we have to

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<v Speaker 6>take account who is the who are the people that

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<v Speaker 6>are loaning, putting creating the loans, and how if people

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<v Speaker 6>are not going to be able to pay on what

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<v Speaker 6>do those banks now do?

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<v Speaker 5>Are there any cars that are new available under thirty

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<v Speaker 5>five thousand dollars?

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<v Speaker 4>The key is I'm seeing fifty two thousand. Yeah, I

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<v Speaker 4>think I've just read a report.

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<v Speaker 6>I think the cheapest model for a new car it

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<v Speaker 6>might be twenty four thousand.

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<v Speaker 4>Who was it?

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<v Speaker 6>I think it was Toyota? What's under the Corolla? The

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<v Speaker 6>smallest thing got?

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<v Speaker 4>Yeah?

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<v Speaker 6>It might have been that. It might have been that. Yeah,

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<v Speaker 6>but erness what's up? You ever walk into a small

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<v Speaker 6>business and everything just works like? The checkout is fast,

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<v Speaker 6>the receipts are digital, tipping is a breeze, and you're

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<v Speaker 6>out the door before the line even builds odds? Are

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<v Speaker 6>they're using Square? We love supporting businesses that run on

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<v Speaker 6>even one.

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<v Speaker 4>Of our merch partners.

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<v Speaker 6>Square makes it easy for them to take payments, manage inventory,

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<v Speaker 6>and run their business with confidence, all from one simple system.

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<v Speaker 6>so you can keep pushing your vision forward. This episode

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<v Speaker 6>is brought to you by P and C Bank. A

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<v Speaker 6>lot of people think podcasts about work are boring, and

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<v Speaker 6>sure they definitely can be, but understanding of professional's routine

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<v Speaker 6>shows us how they achieve their success little by little,

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<v Speaker 6>day after day. It's like banking with P and C Bank.

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<v Speaker 6>It might seem boring to save, plan and make calculated

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<v Speaker 6>decisions with your bank, but keeping your money boring is

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<v Speaker 6>and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly

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<v Speaker 6>Boring since eighteen sixty five is a service mark of

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<v Speaker 6>the PNC Financial Service Group, Inc. P and C Bank

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<v Speaker 6>National Association member FDIC, an.

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<v Speaker 1>Illegal alien from Guatemala charged with raping a child in Massachusetts.

0:06:07.880 --> 0:06:11.279
<v Speaker 1>An MS thirteen gang member from Al Salvador accused of

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<v Speaker 1>murdering a Texas man of Venezuelan charged with filming and

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<v Speaker 1>selling child pornography in Michigan. These are just some of

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<v Speaker 1>the heinous migrant criminals caught because of President Donald J.

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<v Speaker 1>Trump's leadership. I'm Christy nom the United States Secretary of

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<v Speaker 1>Homeland Security. Under President Trump, attempted illegal border crossings are

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<v Speaker 1>at the lowest levels ever recorded, and over one hundred

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<v Speaker 1>thousand illegal aliens have been arrested. If you are here illegally,

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<v Speaker 1>your next you will be fine nearly one thousand dollars

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<v Speaker 1>a day, imprisoned and deported, you will never return. But

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<v Speaker 1>if you register using our CBP home app and leave now,

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<v Speaker 1>you could be allowed to return legally. Do what's right.

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<v Speaker 1>Leave now. Under President Trump, America's laws, border and families

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<v Speaker 1>be protected.

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<v Speaker 2>Sponsored by the United States Department of Homeland Security. Just

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<v Speaker 2>think about that.

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<v Speaker 4>No, no, no, no.

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<v Speaker 6>This is anybody that has these vehicles, but it's becoming

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<v Speaker 6>more expensive to have them. You have student loan debt,

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<v Speaker 6>you got a credit card debt. Wages are not increasing

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<v Speaker 6>at all, right, interest rates are about to be raised again.

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<v Speaker 4>It's a recipe, and they are a lot about these jobs.

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<v Speaker 4>Can we be honest?

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<v Speaker 5>You're getting four hours at shakeshack is not like boosting

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<v Speaker 5>the economy.

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<v Speaker 4>They're lying. They're lying like same way with the music industry.

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<v Speaker 5>At one point of artists, a flop was one twenty

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<v Speaker 5>Burner Boy is sold twenty one thousand.

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<v Speaker 4>Are you lying now or then? Some impossible? How was.

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<v Speaker 5>Smith and Wesson able to do one hundred and fifteen

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<v Speaker 5>first week and now Burner Boil only do twenty one thousand.

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<v Speaker 4>There's a lot somewhere. The numbers are not adding up.

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<v Speaker 5>And when you factor in interest rates, with everything adjusting,

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<v Speaker 5>our payments are going to be higher than what we

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<v Speaker 5>pay for defense and military. And we spent too much

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<v Speaker 5>on the y'all want to talk about grift?

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<v Speaker 4>Who the fifteen graft hit different?

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<v Speaker 5>I got to the level I'm trying to learn how

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<v Speaker 5>to sell the fighter jet.

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<v Speaker 4>Biden with everything I said before was just jokes.

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<v Speaker 5>I hope everything goes wealthy and your son teach me

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<v Speaker 5>how to sell some fighter jets, so we get that's

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<v Speaker 5>the real bag getting twenty thirty million a pop perdu Sol.

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<v Speaker 5>The airport, you Jeri, Now we won't be interviewing them

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<v Speaker 5>for all of you haters, but.

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<v Speaker 4>It was album he sold the airport.

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<v Speaker 7>Airport a fantastic boy if it was like some crazy

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<v Speaker 7>number to six hundred, crap biggest, ten biggest, So the airport.

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<v Speaker 4>Hey, hey, it's tough.

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<v Speaker 5>But as Rashad would say, I say that to say

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<v Speaker 5>we need to fix our economy so that we can

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<v Speaker 5>all do better and prosper Also, we have macro down periods.

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<v Speaker 5>I mentioned vendor cycle before when we went to Breakast

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<v Speaker 5>Club the first time. I'm like, yo, twenty four coming

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<v Speaker 5>we hit a recession.

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<v Speaker 4>Charlie is like you sure. Troy's like.

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<v Speaker 5>Gets throwing off the numbers, and here we are boxteen

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<v Speaker 5>twenty four, all hell on earth as COVID is spiking

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<v Speaker 5>back up.

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<v Speaker 4>So then if.

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<v Speaker 5>COVID spikes back up, the farmer companies are going to

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<v Speaker 5>do well, but we're gonna have to probably sit back

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<v Speaker 5>in the house.

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<v Speaker 4>And while all traveling tourism is down at scale.

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<v Speaker 6>It's interesting as you watch these companies then you're like,

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<v Speaker 6>I wonder if they're doing well as I'm watching the

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<v Speaker 6>US opening. I'm looking at Maderna as the official sponsor.

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<v Speaker 6>I'm thinking about like four years ago that this wasn't

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<v Speaker 6>the case. They got like the instant replay, the best

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<v Speaker 6>shot of the game.

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<v Speaker 4>I'm like, why, that's crazy. But in due time for yeah,

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<v Speaker 4>yeah people, I saw this some sniffles. In about three weeks,

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<v Speaker 4>it's blue season. Yeah, almost over yep.

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

0:10:17.760 --> 0:10:21.559
<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:10:21.800 --> 0:10:25.960
<v Speaker 1>accused of murdering a Texas. Man of Venezuelan charged with

0:10:26.000 --> 0:10:29.920
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:10:30.000 --> 0:10:33.720
<v Speaker 1>some of the heinous migrant criminals caught because of President

0:10:33.800 --> 0:10:37.400
<v Speaker 1>Donald J. Trump's leadership. I'm Christy Noman, the United States

0:10:37.400 --> 0:10:42.200
<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:10:42.240 --> 0:10:45.800
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:10:45.840 --> 0:10:49.080
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

0:10:49.120 --> 0:10:53.000
<v Speaker 1>are here illegally, your next you will be fine nearly

0:10:53.080 --> 0:10:57.080
<v Speaker 1>one thousand dollars a day, imprisoned and deported, you will

0:10:57.120 --> 0:11:00.760
<v Speaker 1>never return. But if you register using our CBP home

0:11:00.800 --> 0:11:04.199
<v Speaker 1>app and leave now, you could be allowed to return legally.

0:11:04.559 --> 0:11:09.280
<v Speaker 1>Do what's right. Leave now. Under President Trump America's laws,

0:11:09.480 --> 0:11:11.920
<v Speaker 1>border and families will be protected.

0:11:12.000 --> 0:11:14.160
<v Speaker 2>Sponsored by the United States Department of Homeland Security,