The Giant American Banking Deception – $7.4 trillion in deposits backed by insolvent FDIC insurance fund. Bank of America and JP Morgan each have more than $2 trillion in assets each while 72 million Americans earn $25,000 a year or less.
The American banking industry is trying to convince the public that simply by hiding bad debts in the deep levels of corporate balance sheets that taking on leveraged risk is somehow safe. FDIC insured banks currently have $7.4 trillion in actual deposits, much of it covered by the Deposit Insurance Fund (DIF). Most Americans think […]
Home is where the working and middle class lose their money – $6.3 trillion lost in household real estate values. Top 1 percent control $13 trillion in financial assets while bottom 80 percent control $2 trillion.
When people talk about the American Dream it usually implies owning a home. Owning a home has been part of our collective psychology for generations and is hard to shake out even after such a disastrous and financially painful bubble that will linger with us for many years going forward. After World War II, owning […]
Financial dismantling of the American middle class in 8 charts – Peak debt, credit card addiction withdrawal, banks hoarding cash, financial sector dominance in pay, Federal debt will never be paid off, and struggles of the middle class.
The American economy runs on high octane debt. Debt has been welcomed by many with open arms and things seemed to be going well until people realized they actually had to pay the debt back. Average Americans trying to keep up with the picket white fence image of Leave it to Beaver were largely relying […]
The big financial lie – How growing income inequality, too big to fail banks, and stock market delusion swindled the American public and dissolved the middle class.
The American banking system has spread systemic risk all across the economy with laser point precision but very few are even aware of this grim reality. It would seem that only those who understand the system from the cavernous inside and have little to lose can actually speak out against the system as they see […]