I wanted to drop a few notes about the ‘recovering economy’ lie that is being touted. First, this site is going to continue to go a bit sideways as I am working on posts that are all financials based and you know how TPTB really hate it when we aren’t talking about oil spills, terrorists, illegal aliens, and left vs. right. When one tries to explain that Goldman Sachs runs the government and not the other way ’round, or Greece is collapsing everything hits the fan. (As I write this, my host is running Emergency Maintenance because of problems.)
One coming attraction that should really set the world ablaze is the statement I heard today on ‘Your World’ that Bambi is going to say tomorrow that he will veto any financial reform legislation that threatens the independence of the Federal Reserve. Wow – that’s a newsflash, isn’t it.
More importantly, how many have noticed that the reports of bank seizures have taken a remarkable dive in the MSM? I’m sure MarketTicker has noticed, and I have to wonder what odds he would give on seven banks being seized the same day in only one state, that being Illinois on April 23rd, 2010?
In 2008, a total of 25 banks failed with 20 of those banks failing between July 11th and December 12th – this during the height of the Federal Reserve, Treasury, and Congressional freakout. In 2009, a total of 140 banks failed during the entire year; with an average of just over 11 banks a month. I just took a look at the FDIC Failed Banks List again, and we are currently at 64 banks in the first four months of 2010; an average of 16 banks per month.