Deposit Flight Continues at Schwab, Rite Aid Goes Bankrupt

People are still pulling their money out of Charles Schwab. The company reported earnings this morning that barely beat lowered expectations while revenue came up short. But the big news was that the draw down of deposits at Schwab continues as another $20B was withdrawn by their customers. Elsewhere pharmacy giant Rite Aid has filed for Chapter 11 bankruptcy after declining sales and opioid judgements crushed company financials.

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#charlesschwab #Riteaid #bondmarket

[johnkellmer]

Janet Yellen saying we can afford two wars is probably the scariest thing I've heard yet.

[jordanp.]

40 billion per day added to national debt. That’s 1 trillion every 25 days and potentially 3 trillion more before the end of 2023. 👀

[buggsmcgee]

Remember, once Janet drains the "Reverse Repo " account thats when the real fireworks begin. Thats only months away!

[yagottabkiddin]

Pretty sad that billions of dollars have become decimal points

[davegray-zzsz]

USS Carl Vinson left San Diego last week to join USS Ronald Reagan in Indo Pacific region. A lot of firepower on the move.

[DadInFastForward]

Im surprised it took Rite Aid this long to go poof

I wonder who is aiming to take over Schwab

[pkradgreek]

I disagree with pharmacies being held liable for big pharma corruption. Rite Aid was not the one who ran clinical trials or approved the drug for human use at said dosages. That the FDA's fault.

[ricks]

You are my daily sanity check. For some reason when you report the news I don't get angry but rather find actionable trades. Thanks for flipping the script you wonderful melon-head.

[billb]

National Debt clock is showing $40B a day and it’s up 1/2 a trillion in the past 20 days.

[Pilawaag]

22:32 "We're all equally screwed!"
Jack, I couldn't come up with a better summary of the current situation. Thanks for the great analysis as always!

[imnguyen]

Great channel. Dumped Economic Ninja awhile ago, and yours filled right in.

[jeffdouglas]

Also, announcing when and where you plan to conduct a military offensive is a good idea

[pqtpat]

Gas $2.99 in NE Ohio. Happy to see as a customer but seems suspicious?

[Lyokou]

If you’re smoking green there must be a lot of green to be had. It’s just not for the working class.

[ipenguin]

It's Disney's 100th Anniversary.

Mickey's funeral is tomorrow.

[jeffdouglas]

There was another really cool guy from history who thought a war on 2 fronts was a good idea

[msab]

I love ❤️ the organ music 🎶 you use Mr Watermelon 🍉 head! 😂 Reminds me of my youth watching cartoons on UHF TV on Saturday mornings in the 70’s.

[oteyokwa]

You want buying Gold & Silver ASAP....take it away from these Warmongers.

[TheArtofTiming]

‘I didn’t know prosperity smelled like that’
Oh it’s a smell and it’s rotten.
Train cars loaded to the hilt with military vehicles and tanks on HWY 85 in Colorado today

[gecko]

LOL @8:50. NSF laughing because he can't form a sentence fast enough. Don't worry, we've all been there Jack. I always knew RiteAid was terrible. Combine a Kmart with high theft, shady locations, and a shady pharmacy branch. Great business model.