Jan 6 2011
FDIC and US banking industry continued insolvency – 11 percent of US banks are labeled as troubled financial institutions. CEO on the record of exporting American middle class.
The US banking system is largely a system based on consumer confidence. You would require the confidence of Zeus if you had $13.3 trillion in assets backed by an FDIC Deposit Insurance Fund (DIF) that is practically insolvent. Even as the stock market solidly recovers to the green the state of the average American’s financial […]
Jan 4 2011
Federal Reserve welcomes a Brave New Economy – how the Fed is robbing the public in open daylight. Maiden Lane Special Purpose Vehicles purchased toxic mortgages like option ARMs and commercial real estate.
The global economy seems to be facing a Brave New World envisioned by Aldous Huxley where the world is operating under a command economy and all citizens are psychologically conditioned from to birth to value consumption. The Federal Reserve is the ultimate spend more than you earn machine. It is amazing that a few hours […]