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Economics and Investing:
Three
more failed banks taken over by regulators. (Thanks to Laura H. for
the link)
Items from The Economatrix:
US Families Rely on Handouts in World's Richest Country
Flu Heightens Mexico's Economic Sickness
Government Nervous About Stress Test Results
S&P
Downgrades Seven Dubai Businesses
US GDP Poised for Epic Collapse
US Empire Built on False Prosperity Collapsing
The Impending Mother of All Oil Shocks
Credit
Crisis Bank Stress Tests: If You Believe the Banks are Recovering... "They
allow Goldman Sachs to bury the fact that they left December out of their financial
results deep in their footnotes. Shockingly, Goldman lost
$1.5 billion
in December. They continue to allow banks to report one time gains as part
of ongoing operations, but billions in losses that are recorded quarter after
quarter are not from ongoing operations. The morons on CNBC report whatever
the banks say, no questions asked."
Gold Consolidation Ending as US Treasuries Paper Bubble Bursting
Stocks
Rise On G20 and FASB Hopes, Can Pigs Really Fly? "Ladies and gentlemen,
the Total Credit Exposure to Capital ratio is one of the most telling capital
adequacy ratios known to man. If ever there was
a
failing grade on a “stress test” – HERE IT IS IN SPADES!!!
The aforementioned measure of capital adequacy, [1,056.4] in Goldman’s
case, is so TOXIC – in fact; one can only wonder if regulators might
have required radiation suits and Geiger Counters to safely measure the TOXICITY
of Goldman’s books. Goldman’s figures stand out almost five times
worse than those of Citibank and Bank of America and 11 times those of Wells
Fargo."
US House Prices Measured in Gold
US
Treasury Bond Debt Bubble Bursting "Total net borrowing needs for
the second quarter are now up to $361 billion. That’s up 27-fold from
$13 billion a year earlier and more than double the previous estimate of $165
billion. We just learned the Treasury will start selling 30-year bonds every
month, as opposed to eight times a year. And speculation is running rampant
that the
U.S. will soon start auctioning off 50-year bonds! All this issuance is needed
to fund a federal budget deficit that’s projected to hit at least $1.75
trillion this year and $1.2 trillion in fiscal 2010."
Economy
in Meltdown Due to Imploding Derivatives Monster and Toxic Debt "The
Swimming Naked Prophecy - It's only when the tide goes out that you learn who's
been swimming naked - Warren Buffet (2007).", and "
The name of the game in town is milking the system, using every trick possible
to make some incredibly rich and leave everyone else holding the bag. According
to her [Nomi Prins'] knowledge, investment banks have sold up to 30 times every
mortgage in America."
