A brave new banking system – while public is told banking system is healthy FDIC quietly grows troubled bank list by 180 and adds over 1,600 employees in the last two years to deal with bank failures.
The banking system in the United States rests on a very thin layer of faith and that faith has been shaken by the current financial crisis. The retail banking system is largely a facade that now latches on to taxpayer bailouts to fund speculative investments through their investment banking divisions. The repeal of Glass-Steagall has […]
The grand financial recovery myth – 8 charts reflecting the true beneficiaries of four years of taxpayer bailouts. Transfer payments make up 22 percent of household income and public debt surpasses annual GDP.
While the economy is recovering in raw GDP terms the working and middle class Americans are having a smaller and smaller piece of the pie. The recovery is disproportionately flowing to a tiny fraction in our population and largely is based on targeted bailouts to the financial sector. After four full years of bailouts and […]
How the Federal Reserve continues to conduct shadow bailouts for the banking beasts and sets the world economy on FIRE. Fed balance sheet now at a record $2.84 trillion as wages decline and banking profits soar. Fed balance sheet now equivalent to 20 percent of U.S. GDP.
The Federal Reserve is primarily concerned with one thing and that is to protect the interests of the banking industry. The Fed has no desire or need to protect the underlying economy. If they can get away with allowing banks to jump from one bubble to another they will do so. The success of the […]
Who’s afraid of the middle class? As housing values reach new lows the stock market is up 100 percent from the 2009 trough. Too bad over 30 percent of Americans have $0 in savings.
The methodical shrinking of the American middle class is difficult to witness. What is even more troubling is this outcome was set in motion over a decade ago and little attention has been shed on what used to be a cornerstone of America’s success. Systematic robbery is now part of the financial fabric of our […]