BIDEN ECONOMY: Banks Are Preparing for Billions in Losses in 2023


The Biden economy is a disaster and getting worse. More bad news for 2023.

Despite good earnings due to an increase in interest rates, banks are predicting a major increase in defaults in 2023.

JP Morgan and other banks have set up some major provisions to expected credit losses.

This means that expectations for credit defaults are increasing drastically.

This all started last year.

Businesses know that according to US GAAP they have to report liabilities as incurred.  These large expected credit losses are predictor of the 2023 economy and another reason the Biden economy may be the worst ever. 

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Joe Hoft is a Radio Host at, Author, Former International Corporate Executive in Hong Kong for a Decade, and a Contributor at TGP since 2016. Joe is the author of five books, including his new bestseller, "The Steal: Volume II - The Impossible Occurs" which addresses the stolen 2020 Election and provides an inventory of issues that prove that the 2020 Election was uncertifiable and never should have been certified for Joe Biden.

You can email Joe Hoft here, and read more of Joe Hoft's articles here.


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