Monday, August 24, 2009

Days Away From Economic Chaos?

America is just a few days away from a possible day of reckoning. I again call attention to this day, August 25, when the Federal Deposit Insurance Corporation issues its 2nd Quarter report for 2009 on the state of health of American banks.

It has not particularly alarmed Americans that its growth and prosperity have been built upon debt. The American public is a bit desensitized, particularly since the Y2K threat fizzled. We must wait and see how Americans respond to the upcoming FDIC report.

The following charts tell the story. There are roughly 8400 American banks that set aside a small portion of their profits to aggregately insure bank depositors should their local bank fail. A plethora of bank failures has depleted the FDIC reserve fund from $52.8 billion in 2008 to $13 billion in the 1st Quarter of 2009. (See chart below)


Leo the Lawyer said...

Follow the history of the Terrorists' Short Sells of US Stocks:

In 2001 days before 9/11/01, the Terrorists sold short the stock of US Airline Companies.

In 2008, the Terrorists sold short the stock of US Banks, Brokerage and Insurance Companies.

In 2009, Terrorists sold short the stock of US Health Insurance Companies.

Just follow the short sales and other insider trades and that will lead you to the Terrorists living in the USA., _our_right__our_duty.thtml

Greg Goss said...

Leo, At least someone learns from history..