![\"Robert](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2023\/05\/robert-kennedy-jr-crisis-768x432.jpg\")
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U.S. Presidential Candidate Robert F. Kennedy Jr. has warned that \u201cthe banking collapse is the tip of an economic mega-crisis,\u201d emphasizing that \u201cIt\u2019s not just the banks.\u201d He also slammed President Joe Biden\u2019s crypto mining tax proposal. \u201cIt is a mistake for the U.S. government to hobble the industry and drive innovation elsewhere,\u201d Kennedy stressed.<\/strong><\/p>\n Robert F. Kennedy Jr., who launched his presidential campaign last month, issued several warnings this week about the state of the U.S. economy, the banking crisis, and President Joe Biden\u2019s cryptocurrency mining tax proposal. He is a nephew of President John F. Kennedy and a son of U.S. attorney general Robert F. Kennedy.<\/p>\n Firstly, Kennedy warned about an incoming economic \u201cmega-crisis.\u201d He tweeted Tuesday:<\/p>\n The banking collapse is the tip of an economic mega-crisis. It\u2019s not just the banks.<\/p>\n<\/blockquote>\n \u201cJob openings plummeted for the third month in a row. Core factory orders dropped for the second consecutive month. Inflation is destroying the middle and working class. We need to turn our attention to rebuilding our nation,\u201d his tweet further details.<\/p>\n Commenting on President Joe Biden assuring Americans on Monday that the banking system is \u201csafe and sound,\u201d Kennedy pointed out in another tweet that \u201cbank stocks are crashing.\u201d He stressed: \u201cThe American people deserve more than glib assurances and perception management.\u201d<\/p>\n The presidential hopeful continued: \u201cBailouts create perverse incentives for banks to make reckless swings for the fences with depositors\u2019 money, knowing they will pocket vast windfalls when they connect and that the taxpayer will bail them out when they miss.\u201d<\/p>\n He added: \u201cI understand the rationale for the rescue of First Republic Bank. The problem isn\u2019t this specific bailout. It\u2019s a system of too-big-to-fail institutions that requires bailouts in the first place.\u201d Regulators seized<\/a> First Republic Bank on Monday and sold most of its assets to JPMorgan Chase.<\/p>\nLooming Economic \u2018Mega-Crisis\u2019<\/h2>\n
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Bank Stocks Are Crashing, Bailouts Create Problems<\/h2>\n
Biden\u2019s Crypto Mining Tax Proposal Is \u2018a Bad Idea\u2019<\/h2>\n