Apr 26 2009
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 [...]
Apr 7 2009
Credit card companies shut down 8 million credit card accounts in February while accepting more Bailout Credit Cards from the U.S. Treasury. 400 Million Credit Card Accounts still open.
Many American households have been strapped for money for many years. The benefit of having a debt bubble is the ability to cover up troubling economic trends and drown out any noise while people feed at the bubble. During this time, credit was easily accessible and many families used credit cards as a bridge loan [...]
