David Walker, former Comptroller General of The United States sees very bad things in our future.
When Walker plotted these trends, and considered demographics among many other factors, what he found was “chilling.” If fundamental reforms are not begun now, he concluded, the United States will experience a financial and political collapse comparable to the fall of Rome.
Read the article
Banks are being closed at the fastest pace in 17 years. Doesn’t sound so bad, right? We survived the 90′s, so this should be no big deal. Unfortunately, it’s alot more complicated that the 90′s banking fiasco. There is so stability in the other parts of the economy to balance out an industry bump. Also, from many accounts, we are really only in the beginning of the bank closures. The number of banks on the unstable list have deposits worth about 30 times what the FDIC has in reserves. Now, is that money that the banks “have” actually solvent? I really have no idea, I wonder if they do.
Can I interest anyone is a nice fluffy mattress in which to stash your cash?
The video
Is this what he was taking about? Or is there something else?
DoD Civilian Expeditionary Workforce Directive, signed 1/23/09
It seems as if the common thread to all of these bills is ‘government control’. And in this case, more White House control. It’s a little vague as to what would constitute a cyber emergency, I suppose we are to trust to the divine wisdom of our mysterious government.
From the article
The new version would allow the president to “declare a cybersecurity emergency” relating to “non-governmental” computer networks and do what’s necessary to respond to the threat. Other sections of the proposal include a federal certification program for “cybersecurity professionals,” and a requirement that certain computer systems and networks in the private sector be managed by people who have been awarded that license.
There is definitely something very scary going on. The power players in the administration are the most controversial bunch of people that have ever surrounded a president. It is so important to look at what his appointees believe. These are the people that he has chosen to surround himself with. It is not by accident that the inner circle is populated by such radicals.
The article could also be called: Worse and Worser, Budgeting the Destruction of America. This is a very sobering look at what the budget numbers really mean. It’s only a matter of time before the bill comes due. We are selling our futures and our children’s futures.
From the article
Note a few things. First, Obama’s budget would more than double the long-term deficit, from $4.4 T to about $9.2 T, when estimated apples-to-apples. Secondly, the baseline estimate has gone up $2.7 T, or 61% just between June and August. Third, we do not have such an updated estimate for Obama’s budget.
From the article
A total of 416 banks with combined assets of $299.8 billion failed the FDIC’s grading system for asset quality, liquidity and earnings in the second quarter, the most since June 1994, the Washington-based FDIC said in a report today. Regulators didn’t identify companies deemed “problem” lenders.
The FDIC has about $10.4 billion in it’s fund right now. But, please don’t worry. There’s absolutely no problem here. Just like Fannie Mae was in great shape, so is the FDIC.
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Recent Comments
17th Mar 12
Interesting to see it! I'm looking for more about this on this post. Thanks for the share.
13th Mar 12
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13th Mar 12
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