The Economic Recovery Decoy: Bank Refuge and Auto and Home Sales Plummet. Two Largest Purchases for Americans still Treading Water. Number of Renters Increases by 748,000 in one Quarter.
When I hear about the banks and Wall Street returning TARP money to the government I can’t help to think of a successful Trojan Horse hitting our economy from within. The initial rush to back an unprecedented bailout for the sake of the economy actually turned out to be a strategic looting of the American […]
Following the Failed Japanese Economic Playbook: 10 Charts Comparing the Japanese Lost Decade to the United States.
Even as early as last year, anyone trying to compare the circumstances of the United States with the lost decade in Japan appeared to be out of line with mainstream economist and the media. Yet if this financial crisis has taught us anything, it is that the experts can be wrong by a wide margin. […]
20,000 Americans Lose Their Job Each day but we Still Bailout Wall Street and Banks: 4 Charts Highlighting this Historical Financial Crisis. GDP, Inflation, Industrial Production, and Excess Reserves.
Four banks and one credit institution failed on Friday. This is now becoming a common Friday ritual. On February 13 four banks were also taken over by the FDIC. Multiple bank failures on one day are now growing in size. Yet the FDIC is quickly blazing through their insurance fund and soon, the taxpayer is […]
Bank of America: $931 billion in Loans and Leases. Net Income Fell by $11 billion in 2008. Gear up for Financial Earnings Season.
The market is now fully engaged in earnings season. Market sentiment stocks like Alcoa reported a loss bigger than analyst had expected but all eyes are focused on the financial industry. That is why when Wells Fargo announced an early $3 billion profit, the markets went into full rally mode. Yet once you dig into […]