Silicon Valley Bank’s collapse will not be a one-off – a banking crisis was long overdue

We now know what happens when central banks raise rates and reverse QE It has been a year since the Federal Reserve started to raise interest rates and banks are starting to fall over in the US. Anybody who thinks Silicon Valley Bank was a one-off is deluding themselves. Financial crises have occurred on average once a decade over the past half century so the one unfolding now is if anything overdue. The reckoning has been delayed because since 2008 …