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Bank Closings
Not sure if anyone else is checking this site much anymore, but I wasn't sure where else to post this. Check out the bank closings from August 20th:
http://s.wsj.net/public/resources/documents/info-Failed_Banks-sort.html
Eight closings including one bank with over $2 billion in assets. Only one of the banks was a small one with the others solidly in the hundreds of millions of dollars.
One strange thing though: the FDIC ate very little on these banks. The $2 billion dollar bank (Shorebank, Chicago, IL) only cost them $32.6 million. If the cost was so low, why did the bank fail? Just seemed a little odd to me.
I am wondering if the markets are going to close under 10,000 today. (I am not sure why the comments were disabled on this thread. Did I do that? How long has it been like that?)
ready or not, today could get ugly.
Here is Denninger's take on what happened yesterday:
Mr. President: Unplug the F*ing Computers
Things are definitely starting to lose stability. I think the facade is starting to show some serious cracks.
For Newcomers - Market Charts
In case you aren't aware of this page, it can be found from the Home page (under Economy, E Gold Charts). It is useful for tracking interesting patterns in the market.
Treasury Auction Oddness.
http://community.nasdaq.com/News/2010-02/Something-Very-Strange-Is-Happe...
I think we are finally to the point that we are buying ALL of our own treasuries to prop up the markets.
:(
~Live life to its fullest... with open arms, an open heart and most importantly, an open mind.~
Like 100%
Yeah, that's more like it. Who else want's it?
LIVE and let live.
*blink* thats a pretty abrupt slide (830 am)
Check this out
http://www.cbsnews.com/blogs/2010/02/17/politics/politicalhotsheet/entry...
February 17, 2010 4:34 PM
South Carolina Lawmaker Seeks to Ban Federal Currency
Posted by Brian Montopoli
South Carolina Rep. Mike Pitts has introduced legislation that would mandate that gold and silver coins replace federal currency as legal tender in his state.
As the Palmetto Scoop first reported, Pitts, a Republican, introduced legislation this month banning "the unconstitutional substitution of Federal Reserve Notes for silver and gold coin" in South Carolina....
Take things always by the smooth handle - Thomas Jefferson
I like how it ends....."Though he did not offer a timeframe, Pitts told Hotsheet that he anticipates a nationwide economic collapse "if our federal government continues the course it's been traveling under the previous administration and this administration."
Oh! well you see... "people have been saying this for years"......
Thanks Swampfox!
Seems the state levels will soon be forced to try to protect their own!
A real friend is one who walks in when the rest of the world walks out. ~ Walter Winchell
Hmm... look at that. Silver and the dollar and now moving opposite of each other again. Are we seeing a pattern change here?
Thoughts for the day...
Let's kinda put these in perspective, shall we?
Starting with these... anyone ever play Risk as a kid?
Hoenig Says Fed’s Objectives Threatened by U.S. Debt
The Greek Crisis Is A Dress Rehearsal For A Major Speculative Attack On The UK
Simon Johnson: Goldman Is About To Be Blacklisted And Possibly Banned In Europe
Foreign demand for Teasury securities falls as China reduces Holdings
China Isn't Supplanting The US, It's Supplanting The World Bank, And It's Making The Yuan The World Currency
It's starting, is all.
~Live life to its fullest... with open arms, an open heart and most importantly, an open mind.~
It's too bad I had to defriend this guy on facebook because he told me that it was a conspiracy theory that China was going to stop buying t-bills and then begin to dump them in an effort to take the #1 spot.
oh my....maybe I should reconnect with him just to rub his face in it.
Like he'd believe it was happening....haha what an asshole
Ok.. that's some funny stuff there.... lol.
The world economy. A conspiracy!
Of course there is no such thing as an economic war!
Like there ever was anything else....
~Live life to its fullest... with open arms, an open heart and most importantly, an open mind.~
He was a Chinese language major in college so clearly he knows everything.
He told me that China and the US were strong allies and China was dependent on the US. I, of course, tried to explain to him that with the development of the SCO China was actively seeking other business partners and were aware that the US had painted itself into a corner and HAD to find a way out from under this country.
He babbled on about something, then caught me one day in a shitty mod and asked me an absolutely retarded question and I had to cut him loose.
But yeah...shows what kids are learning in college even when they study a specific topic relevant to a particular discussion.
And as an added bonus, just in....
Goldman Sachs, Greece Didn’t Disclose Swap, Investors ‘Fooled’
~Live life to its fullest... with open arms, an open heart and most importantly, an open mind.~
I bet Ben is a little nervous.
what do you mean mark?
And more happy news in the economic world. Foreclosure Filings
Business as usual....
OVER 50 **UNEXPECTED** CEO & CFO resignations in the last 3 weeks!
Most notably are telecoms, banks and energy companies.
1. Sun Microsystems
2. Royal Bank of Scotland
3. Bank Leumi of Israel
4. Lenovo
5. Wellpoint (on March 1)
6. Ingersoll-Rand
7. Gasco
8. Syntel
9. Motion Picture Television Fund
10. GrainCorp
11. Connaught Plc
12. Netplay TV
13. AgResearch
14. Zain Telecom
15. Ethan Allen Institute
16. Fahrney-Keedy Home & Village
17. Nordzucker
18. France Telecom
19. TransWorld Entertainment
20. Parlux
21. Medical Developments International Ltd
22. PBR (on March 1)
23. Aeropostale
24. Cook Islands Tourism
25. Uranium International Corp
26. San Francisco AIDS Foundation
27. Borders Books
28. YTB International
29. Western Australia Business News
30. Bergen Group Rosenberg
31. Phumelela
32. Bartow Regional Medical Center
33. NV Energy (CFO)
34. Shanda Interactive
35. NB Power
36. Empire Aero
37. Argentina Central Bank
38. Hong Kong Exchanges & Clearing (CFO)
39. Arbitron
40. Lihir Gold Ltd
41. Meredith Corp
42. Red Bull
43. Golden Harp
44. Endo Pharma
45. Nuplex
46. CLICO
47. Mirada (chairman)
48. Remedial Offshore
49. Abercrombie & Fitch Co
50. Commerce Resources (CFO)
UPDATED:
http://www.godlikeproductions.com/forum1/message981908/pg1
The list is now close to 180.
For a CEO/CFO to quit, resign, etc....is perhaps a way to cash out of the stocks. Does that mean the market will crash? ...one does not have to be a genius to conclude it is Just a matter of time.
url = http://wakeupfromyourslumber.com/blog/joeblow/2010/february/07/over-50-u...
~Live life to its fullest... with open arms, an open heart and most importantly, an open mind.~
Add John Q. Law to the list
Top Police and law enforcement all over the country RESIGNING
Hmm... actually, this might be a little different than the others. Is there something coming down the pipe that these law enforcers don't approve of and so are resigning out of protest?
Taken separately, you might write them off. Put all of these things together... something is definitely in the works.
I've posted to OK
Waiting for some sort of buzz on it. It may take a day or two to seep out of our group and into the main OK consciousness. Will report back.
Scary stuff. Instead of rats jumping ship, I think it's more like a lemming jump.
Here's a thirty--five page thread on the subject
If you can sift through the BS
http://www.godlikeproductions.com/forum1/message981908/pg1
Edit: and probably lots of foul language.
LIVE and let live.
I have said this a lot of late... but really... wow! That is probably the most disturbing economic trend I have seen this year.
Talk in the blogosphere is that they are cashing out of thier stock options and fleeing while they still can.
Makes sense to me.
:(
~Live life to its fullest... with open arms, an open heart and most importantly, an open mind.~
Yep. That is my thought as well. The rats are jumping off the ship just before it sinks beneath the waves. Whether or not they are seeing the big picture or this is just an indication of the wave of bankruptcies due to dismal financial results, this can in no way be a good sign for our economy. Everything I am hearing on the street says that the purchasing has completely dried up since the new year started.
Speaking of rats jumping ship, does anyone have a theory of why so many Congress people are stepping down all of a sudden? Our long-time representative just announced he won't be running again. Do you think the NWO is planning the collapse for next year to blame it one the newbies?
You're righty-o
I've noticed this as well. My own state congressman is stepping down after forever. I feel they are turnin' tail and runnin'. Quick like.
I've even noticed it in our governor's race. First the vice governor decided not to run, now the other front runner just said she wasn't running after all. Kind of weird. Now to see if they can run far and fast enough.
Here's why....
They are coming to have a reasonable fear for thier lives soon.
How to invest for a global-debt-bomb explosion
Prepare for an apocalyptic anarchy ending Wall Street's toxic capitalism
At Marketwatch no less.
~Live life to its fullest... with open arms, an open heart and most importantly, an open mind.~
Wow!
And yet commercial investors are still running to the dollar every time the DoW breaks wind.
Insanity.
~Live life to its fullest... with open arms, an open heart and most importantly, an open mind.~
Insanity: the markets seem especially happy this morning.
Apparently it is because of this:
Jobless Claims in U.S. Fall More Than Forecast to One-Month Low
Um... that still means that nearly 1/2 million people filed for new unemployment claims. People are still losing jobs at a very rapid race, but because it is not as bad as people were forecasting, the economy is "recovering"? Uh... okay.
Another thing...
A lot of people fell off the unemployment rolls the second/third week of Jan, as well.
So the total amount still keeps rising with no end in sight, even after they ~readjusted~ 2009's numbers by an additional what... 800,00o unemployed?
Ya.. we're doing great.
~Live life to its fullest... with open arms, an open heart and most importantly, an open mind.~
LOL!
Plunge Protection Team to the Rescue!
I like one of the comments....
It's getting bad when we KNOW what they are doing. It's so f---ing obvious Stevie Wonder could see it.
~Live life to its fullest... with open arms, an open heart and most importantly, an open mind.~
LOL
And LOL some more!
LIVE and let live.
This was a DP rant... but I'm an egotistical ass so I wanted to save it somewhere for further honing. It was about the dollar going up today.
This might be a decent analogy if worked on.. who knows
:P~
~Live life to its fullest... with open arms, an open heart and most importantly, an open mind.~
I'll stick to my analogy
Whack-a-Mole
When the dollar goes up, gold and silver go down, when the stock market goes up the TNX (10 year bonds) goes down.
A giant game of whack a mole.
LIVE and let live.
You have a point...
Now, if we can just set the whack-a-mole table on fire in your analogy...
:)
~Live life to its fullest... with open arms, an open heart and most importantly, an open mind.~
How would you propose that
How exactly do you break the cycle.
LIVE and let live.
Easy enough...
since the cycle will be broken no matter what we do. It is inherently broken, you see... it just spins faster and faster until it explodes. We don't have to do anything!!! So we look, we prepare. I do not think that this is going to be a typical ~mad max~ scenario or anything the doomsayers are lugging out.
However, it is still going to be pretty shitty.
My family went through this in England.
Then in Ireland... ~shudder~
Then the US... twice.
And that's just the white side of my family... LOL
Keep some shiny metals, yes. But the most important part is to know how to live.
Period. Just know how to live on a bit of land, feed yourself, take care of the things around you.
If you can do that, then you are the 1% that is going to be fine.
Stay away from the other 99% and let them take care of themselves.
Do you know why zombie movies are so popular?
Because we have a genetic memory of something close. We've done this before.
~Live life to its fullest... with open arms, an open heart and most importantly, an open mind.~
+100
I agree totally. That's why we are proceeding to move to Missouri, as soon as possible. My husband's going down there next week to look at properties we've viewed on line, and scope things out. Self sufficiency is where it's at.
LIVE and let live.
I cannot preach about that enough.
The American economy is cooling... it is a slow process, but people are going to wake up in the morning 10 years from now, stumble into the kitchen and while waking up just be amazed at where they are. Without jelly. Because we had a choice this month on the strawberry jelly or the extra credits on our electric so that this year we could put lights on our Christmas tree.
Those of us in the loop need to get GOING right now on it while we can... resources are drying up as we speak, money is getting shorter and there is nothing good on the horizon. If you start this 5 years from now you will not be able to do it without an immense effort.
This is so fucking serious... I get teared up typing about it.
There is stuff I can't tell you about but it's coming.
Please be prepared.
~Live life to its fullest... with open arms, an open heart and most importantly, an open mind.~
Hm.
I kinda think this is a little earlier than I had anticipated, but the Euro is getting close to its last gasps.
Don't sweat the PM prices and get ready for the end of Feb.
We're going to have a REAL financial March Madness this year.
I'm really not hoping to win my bet for April 15.
~Live life to its fullest... with open arms, an open heart and most importantly, an open mind.~
Denninger is inclined to agree with you, I think.
http://market-ticker.org/archives/1935-Who-Remembers-This......html
You know...
I don't really read or follow a market analyst... I just watch the news and make up my own mind.
I might break down and start reading Denninger tho.
He's most of the way there, by the article you just linked.
Thanks!
~Live life to its fullest... with open arms, an open heart and most importantly, an open mind.~
I don't agree with Denninger on everything, but his financial analysis is usually spot on. It is not so much prediction of the markets as analyzing the real truth behind the financial reports. The picture he is painting right now is very bleak. He's about the only honest and truly informed analyst I have seen.