Helping Small Business Owners Produce Freedom So They Can Enjoy an Abundant Life and Live Their Passion & Purpose!
Cinco or “Sink”-O de Mayo
Written by Steve | Published: |
A few weeks ago my partners and I traded in our boat for a newer model that has considerably improved wake surf technology.
When me and my family took it out for the first time we were very careful in our pre-launch review and wanted to prevent anything “weird” from happening on the maiden voyage.
Keep in mind I have been on boats before where the plug was not screwed in and we were taking on water, so I have a bit of anxiety about that. 🙂
When we got out of the no wake zone I turned on the ballast tanks and started filling them to their full capacity. I didn’t realize that the capacity on this boat was three times the water weight than our last boat.
As I looked back to see what was happening with the back swim deck it was so far under the water that I thought we were sinking.
The pressure and panic instantly set in, “how could I do this to my whole family including my eight month old baby?!?”
I rushed back to the driver seat abruptly moving my four year old daughter out of the way (which hurt her feelings, sorry baby), yelling, “we’re sinking!”
Now the whole family was concerned. I quickly checked the access to the bottom of the boat but it was bone dry.
I was so confused.
So I emptied the ballast and drove back to the dock anyway.
It turned out that everything was actually fine and normal, I just wasn’t used to how much more capacity the new boat could handle. And we had a great day on the lake.
You have probably already heard about the looming banking collapse. With the rapid increase of interest rates and the carnage it has caused in the bond market. Banks are taking on more and more losses and losing liquidity fast.
These banks have already failed or are sinking:
First Republic – 14th largest bank
Silicon Valley Bank – 16th largest bank
Silvergate Bank – 147th largest bank
Signature Bank – 29th largest bank
Credit Suisse – 45th largest bank
PacWest Bank – 59th largest bank is on the verge
In this chart from FDIC it shows Bank Failures from 2001 to 2023. The chart doesn’t show 2023 but if you look closely in the bottom right cell you see that the assets of banks that have failed in 2023 is $548 Billion, whereas in 2008 the assets in banks that failed back then was $373 Billion.
Do you realize that? We have already had more assets in bank failures than 2008!
If you see a storm continuing on here or don’t feel prepared I am urging you to reach out and take some time to do a holistic financial review with us so we can try to help where we can.
For now please review how much you have in the bank system and challenge your thinking on how “safe” it is sitting there.
There are brighter days ahead but we need to work together to get through the storm.