Oct 16 2010

The debt end game – Top 10 percent of families own an average of $700,000 in stocks while the next 15 percent own an average of $53,000. The other 75 percent are insignificant players by Wall Street standards.

The government recently announced on a slow Friday a $1.29 trillion budget deficit as if it were no big deal for the completed fiscal year.  In fact, this was spun as grand news since the previous budget deficit topped $1.4 trillion.  We are now reaching a nationwide tipping point of debt.  The U.S. Treasury and […]

Sep 22 2010

The big banking sham and how the recession is over for the top 1 percent – Top 1 percent of banks control 80 percent of banking assets while household net worth is down $12.3 trillion from the peak.

The headlines read that the recession is over.  In fact, the recession has been deemed over since June of 2009 by the National Bureau of Economic and Research (NBER).  Yet the fact of the matter is working and middle class Americans are solidly in a deep recession.  There was a town hall that was televised […]

Aug 24 2010

The trillion dollar bailout you didn’t hear about – Commercial real estate values plummet again yet banks hide losses. A $3.5 trillion financial disaster in the making. We are now proud owners of an AMC theater and Chick-fil-A.

The latest data on existing home sales should tell you exactly where we are in this so called recovery.  Average Americans are unable to purchase big ticket items without massive government subsidies.  It is also the case that all the too big to fail banks are standing only because of the generous support of taxpayer […]

Jun 18 2010

FDIC flashes code red – Banking system insolvent and expecting more bank failures. Since 2008 247 banks with $616 billion in assets have failed. History of Federal Reserve designed to protect the big banks.

The FDIC which technically supports the nation’s banking system is for all practical purposes insolvent.  I’m not sure the magnitude of this problem has sunk into the psyche of the American public.  The FDIC insures accounts at banks that include checking, saving, and CD accounts from a bank failure.  This has occurred with regular frequency […]

Nov 22 2009

FDIC Broke and Selling Real Estate: How $13 Trillion in Assets is Protected by no Deposit Insurance Fund. FDIC Selling Properties to Replenish Fund and Collecting Early Fees.

The FDIC, that enigmatic seal of security on your bank entrance, is virtually bankrupt.  The FDIC provides deposit insurance to over 8,000 banks that collectively hold $13 trillion in assets.  We can question what those assets are really worth since many of these institutions hold $3 trillion in commercial real estate loans and defaulting residential […]

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