"No REALLY, we're doing fine" ~ every bank right nowSubmitted by JPowsSecretlover t3_127ifsn in wallstreetbets
grimkhor t1_jee9kfl wrote
Ah yes the very dramatic chart only issue is that it doesn't mean anything. It's change in deposits not outflows and considering that 2020 and 2021 had covid which grew the savings rate significantly you would expect that people deposit a lot less comparatively (what the chart measures actually) now that everything is opened again and a crisis is going on.
jojoyahoo t1_jeeykt9 wrote
Plus the fact that there's just under $18T in commercial deposits, so $600B is a drop in the bucket.
grimkhor t1_jeeza9b wrote
Yeah. There did some chart magic and borderline manipulation to make it look dramatic. The outflows headline for example doesn't match the chart description about deposit change. They also left out many important information like what change it is YoY or decade over decade nobody knows. Fishy.
46andTwoDescending t1_jef5zf1 wrote
600 billion is not a drop in the bucket of 18 trillion. I wouldn't call 3% a drop of anything, and in a system sensitive to fractions of a percent, it most certainly is not just a drop in the bucket.
46andTwoDescending t1_jef6c0t wrote
3% gains every day for a year on a $2,000 trading account and you have a quarter of a million.
That's sort of a big deal.
BlackSquirrel05 t1_jefrfn2 wrote
Where are 3% gains per day occurring?
2bits2many t1_jeebj0r wrote
Not sure how these 2 charts coexist, maybe you could explain further. The story I've been hearing is that people are figuring out US treasuries pay nearly 5% while savings accounts pay .05%.
erickssm t1_jeetpi2 wrote
The OPs chart only shows the drawdowns in the data. That chart is designed for shock factor to scare people into thinking that there is something bad happening. The actual data from the FRED site shows the reality. It shows that all of the drawdowns are minuscule in the grand scheme of things. Bank deposits not only have continuously trended higher over time, the current draw down is a fraction of what was moved into deposits over the past couple years.
[deleted] t1_jeej8j1 wrote
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[deleted] t1_jeeq3q8 wrote
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grimkhor t1_jeec2qz wrote
The top chart doesn't make any sense at all. It compares yoy (or mom?!) numbers of deposits from peak?!
Here's the still very dramatic yoy deposit numbers with a zoom to make them look more dramatic again.
So if you now take this chart look where it peaked (probably in 2020 with covid money) and now take the amount of money this change until now represents it would be the posts chart. It's absolutely useless but it is what it is.
Edit:
OPs chart is basically a Frankenstein of the drop top right here and translated to a big number instead of percent:
Not even starting to talk about the headline being about outflows while the chart being about change in deposits.
thefutureisnotset t1_jeeqy9u wrote
It looks to me like the one given by u/erickssm just shows total bank deposits directly over time, which trends upward with a sharper jump in 2020 reflecting the increased savings during the pandemic with a mild downward trend in 2022.
The one given by OP shows “change in bank deposits from peak” and if the top of the graph is 0 but the actual amount of deposits trends up, that must mean it’s dynamically considering the peak as it updates over time rather than the peak considering the entire data set. So even though this chart shows 0 from 2020 to 2022, what’s really going on is the peak is sharply rising, so then the sharp downfall looks way more dramatic because the way the graph is structured strongly emphasizes decreasing deposits while abstracting increasing deposits.
JPowsSecretlover OP t1_jeecagw wrote
After editing your comment you are now actually wrong. It does not matter how much new money people deposit now compared to in the past.
This chart shows the difference in total money deposited at banks compared to the peak of total money deposited.
grimkhor t1_jeeclo9 wrote
Ok the edits are btw grammar or clarity corrections or I put them in "Edit:" so nothing really changed
JPowsSecretlover OP t1_jee9xvi wrote
We know that credit card debt is skyrocketing and savings are plummeting. With this in mind, this chart says something. I don't know what but something
grimkhor t1_jeeaa6g wrote
It says nothing besides a regard trying to create copium for their puts.
Looks a lot less dramatic using the monthly total numbers.
Edit: Looking at their site it makes a lot of sense now. They want to pitch you alternative investments because the stock market is too dangerous You NEED them and you should pay them
>Since our founding in 1990, we have established a notable record of success in alternative investments.
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