The FDIC fund that insures bank deposits is $8.2 billion in the hole.
The Federal Deposit Insurance Corp. released its latest set of grim banking data moments ago. The FDIC had to set aside $21.7 billion for expected losses on future bank failures as the total number of "problem" banks rose to 552 from 416.
During the 1930s, the United States and the rest of the world experienced a severe economic contraction that has now been named the Great Depression. In the United States, during the height of the Great Depression, the official unemployment rate was 25% and the stock market had declined 75% since 1929. Bank runs were common place because there wasn't any insurance on deposits at banks, citizens ran the risk of losing all of the money that they had deposited if their bank failed.[6]
as the FDIC website says THE FDIC is an independent agency created by the US Congress to maintain stability and public confidence in the Banking System
Now the insurer is running a deficit? How does this happen? So our they going to print more money or borrow more money or are those the same thing? So if we the people pay taxes to support a bankrupt company that is supporting a bankrupt borrowing system. Doesn't it seem like we are on the hook for that?
Tuesday, November 24, 2009
Thursday, November 19, 2009
The 'Real' Jobless Rate 17.5%
The 'Real' Jobless Rate 17.5% All gov't statistics are fake. Ahhh.
Why does the gov't try to manage the statistics to make things look unduly good. If you are trying to manage expectations shouldn't you tell the truth. So when people find out the truth things don't plummet.
It's like my personal selling teacher always told me you should underpromise and overperform. To me it seems like they are setting them selves up for failure.
the number dwarfs the statistic most people pay attention to-the U-3 rate-which most recently showed unemployment at 10.2 percent for March, the highest it has been since June 1983.The difference is that what is traditionally referred to as the "unemployment rate" only measures those out of work who are still looking for jobs. Discouraged workers who have quit trying to find a job, as well as those working part-time but looking for full-time work or who are otherwise underemployed, count in the U-6 rate.
With such a large portion of Americans experiencing employment struggles, economists worry that an extended period of slow or flat growth lies ahead.
"To me there's no easy solution here," says Michael Pento, chief economist at Delta Global Advisors. "Unless you create another bubble in which the economy can create jobs, then you're not going to have growth. That's the sad truth."
Pento warns that forecasts of a double-dip ("W") or a straight up ("V") recovery both could be too optimistic given the jobs situation.
Why does the gov't try to manage the statistics to make things look unduly good. If you are trying to manage expectations shouldn't you tell the truth. So when people find out the truth things don't plummet.
It's like my personal selling teacher always told me you should underpromise and overperform. To me it seems like they are setting them selves up for failure.
the number dwarfs the statistic most people pay attention to-the U-3 rate-which most recently showed unemployment at 10.2 percent for March, the highest it has been since June 1983.The difference is that what is traditionally referred to as the "unemployment rate" only measures those out of work who are still looking for jobs. Discouraged workers who have quit trying to find a job, as well as those working part-time but looking for full-time work or who are otherwise underemployed, count in the U-6 rate.
With such a large portion of Americans experiencing employment struggles, economists worry that an extended period of slow or flat growth lies ahead.
"To me there's no easy solution here," says Michael Pento, chief economist at Delta Global Advisors. "Unless you create another bubble in which the economy can create jobs, then you're not going to have growth. That's the sad truth."
Pento warns that forecasts of a double-dip ("W") or a straight up ("V") recovery both could be too optimistic given the jobs situation.
Wednesday, November 18, 2009
Gold is it in more than one way
Gold hits record near 1150/oz its a great time to own gold or own Goldman. Recently Goldman and Buffet started a 500million dollar charitable donation, while tipping its employees 19billion dollars. It seems to me there trying to appease the masses. And then today on Yahoo there was pretty much a piece of "News" telling us that we should forgive and forget and they even talked about how theres all these conspiracy theories and how we should take it as a joke, he said take it like jay leno. Even though at points it seems like they admit its goldman's way to pretend they are saving the world and doing "God's Work" Watch the video and see for yourself. Goldman Says "Sorry" And The World Moves On.
Well anyway Gold seems like it would have been a great buy a couple of months ago and may still be a good buy with more reserves being transfered into gold. also with our federal reserve policy if there is inflation gold goes up and if there isn't gold goes up. But at least for our dollar sake gold is hitting high's in other currencies too.
Gold traders are awaiting key U.S. consumer price index numbers later in the day for clues as to the next direction of trade, both due to its effect on the currency markets and on bullion itself, which is often seen as an inflation hedge.
"Low inflation pressures are traditionally a negative for gold prices," said HSBC analyst James Steel in a note.
"If, however, weak inflation data are seen as allowing the Fed to continue to pursue easy monetary policies, this may be seen as supportive of gold."
Gold rose in currencies other than the U.S. currencies, reaching its highest since late February in euro terms, since early March in sterling terms, and since early May when priced in the Australian dollar.
Well anyway Gold seems like it would have been a great buy a couple of months ago and may still be a good buy with more reserves being transfered into gold. also with our federal reserve policy if there is inflation gold goes up and if there isn't gold goes up. But at least for our dollar sake gold is hitting high's in other currencies too.
Gold traders are awaiting key U.S. consumer price index numbers later in the day for clues as to the next direction of trade, both due to its effect on the currency markets and on bullion itself, which is often seen as an inflation hedge.
"Low inflation pressures are traditionally a negative for gold prices," said HSBC analyst James Steel in a note.
"If, however, weak inflation data are seen as allowing the Fed to continue to pursue easy monetary policies, this may be seen as supportive of gold."
Gold rose in currencies other than the U.S. currencies, reaching its highest since late February in euro terms, since early March in sterling terms, and since early May when priced in the Australian dollar.
Monday, November 16, 2009
Climate Treaty Bill New Doho?
O my I just wanted to thank Al Gore for being a genius. He has figured out a way to make everyone think he is a hero while at the same time enriching himself, bringing down a country, bringing in world government, and helping all his friends gain power or enrich themselves. Nothing wrong with making money but the world government and taxing a country to death is another.
More than anyone else as vice president of the united states of America and being involved in American politics for 24 years, serving first in the U.S. House of Representatives (1977–85) and later in the U.S. Senate (1985–93) (representing Tennessee) before becoming vice president. Gore was the Democratic nominee for president in the 2000 presidential election. I think this truly makes him more intersting than anyone else for business or global pushers and pullers. Think about it if anyone knows how to use lobbyists it would be him. If anyone knows how to make house calls the the most important politicians it would be the vice president of the united states. If anyone was to be bought by the global financiers and money elite it would be the vice president of the united states. Especially after he lost the election for presidency I'm sure he was depressed and looking for an idea.
Today Al has his own financial company that owns the chicago climate exchange many refer to his companies name as "Blood and Gore." The company they own Generation Investment Management LLP (GIM) is a London-based investment management firm with an investment style that blends traditional equity research with a focus on sustainability factors, including social and environmental responsibility and corporate governance.
Former U.S. Vice President Al Gore is chairman of Generation, and David Blood — previously chief executive of Goldman Sachs Asset Management — is CEO. The pair has given the company its nickname, "Blood and Gore."
He also has founded a company soleley for promoting the global climate change theory and it is supported by paramount pictures "The Alliance for Climate Protection is an organization founded in the United States in 2006 aiming to "persuade people of the importance, urgency and feasibility of adopting and implementing effective and comprehensive solutions for the climate crisis".[1] The founder and current chairman of the alliance is former US Vice President Al Gore" Much of the Alliance's funding comes from Al Gore's work. Paramount Classics, distributor of Gore's documentary An Inconvenient Truth
I find all of this very interesting especially with all of the coming up global meetings on climate changes at the G20 and even more close to home the upcoming Cap and Trade vote where it could slip through and we would have to pay taxes for every time we breathed and a lot of that money would go straight to Al Gore and his Goldman friends who own the exchanges where carbon will be traded and who create the financial products to be traded. Making money for the bankers now with complete control of the media and the politicians is like shooting fish in a bucket. like one oil baron said the best either rockefeller or getty I can't remember but he said something like the best way to start a business is to pass a law and thats what they are fixin to do. another quote from rockefeller
I would rather earn 1% off a 100 people's efforts than 100% of my own efforts.
John D. Rockefeller
Nationalized industries are notorious for their inability to operate at a profit.
Paul Getty
If you want to succeed you should strike out on new paths, rather than travel the worn paths of accepted success.
John D. Rockefeller
all this to show you this link about the up coming meetings
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE5AF3SY20091116
More than anyone else as vice president of the united states of America and being involved in American politics for 24 years, serving first in the U.S. House of Representatives (1977–85) and later in the U.S. Senate (1985–93) (representing Tennessee) before becoming vice president. Gore was the Democratic nominee for president in the 2000 presidential election. I think this truly makes him more intersting than anyone else for business or global pushers and pullers. Think about it if anyone knows how to use lobbyists it would be him. If anyone knows how to make house calls the the most important politicians it would be the vice president of the united states. If anyone was to be bought by the global financiers and money elite it would be the vice president of the united states. Especially after he lost the election for presidency I'm sure he was depressed and looking for an idea.
Today Al has his own financial company that owns the chicago climate exchange many refer to his companies name as "Blood and Gore." The company they own Generation Investment Management LLP (GIM) is a London-based investment management firm with an investment style that blends traditional equity research with a focus on sustainability factors, including social and environmental responsibility and corporate governance.
Former U.S. Vice President Al Gore is chairman of Generation, and David Blood — previously chief executive of Goldman Sachs Asset Management — is CEO. The pair has given the company its nickname, "Blood and Gore."
He also has founded a company soleley for promoting the global climate change theory and it is supported by paramount pictures "The Alliance for Climate Protection is an organization founded in the United States in 2006 aiming to "persuade people of the importance, urgency and feasibility of adopting and implementing effective and comprehensive solutions for the climate crisis".[1] The founder and current chairman of the alliance is former US Vice President Al Gore" Much of the Alliance's funding comes from Al Gore's work. Paramount Classics, distributor of Gore's documentary An Inconvenient Truth
I find all of this very interesting especially with all of the coming up global meetings on climate changes at the G20 and even more close to home the upcoming Cap and Trade vote where it could slip through and we would have to pay taxes for every time we breathed and a lot of that money would go straight to Al Gore and his Goldman friends who own the exchanges where carbon will be traded and who create the financial products to be traded. Making money for the bankers now with complete control of the media and the politicians is like shooting fish in a bucket. like one oil baron said the best either rockefeller or getty I can't remember but he said something like the best way to start a business is to pass a law and thats what they are fixin to do. another quote from rockefeller
I would rather earn 1% off a 100 people's efforts than 100% of my own efforts.
John D. Rockefeller
Nationalized industries are notorious for their inability to operate at a profit.
Paul Getty
If you want to succeed you should strike out on new paths, rather than travel the worn paths of accepted success.
John D. Rockefeller
all this to show you this link about the up coming meetings
http://www.reuters.com/article/GCA-GreenBusiness/idUSTRE5AF3SY20091116
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