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Welcome to my website. 
Blast from the past
What’s New?
4.21.2010 - Bank Failures updated.
Bank Failures:
- 2010 - 30 (As of March 13)
- 2009 - 140
- 2008 - 25
- 2007 - 3
- 2006 - 0
- 2005 - 0
Here’s a few years in a row of double digit bank failures.
- 1994 - 15
- 1993 - 50
- 1992 - 181
- 1991 - 271
- 1990 - 382
- 1989 - 534
- 1988 - 470
- 1987 - 262
- 1986 - 204
- 1985 - 180
- 1984 - 106
- 1983 - 99
- 1982 - 119
- 1981 - 40
- 1980 - 22
- 1979 - 10
During the Great Depression there were 9,000 bank failures.
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Where to from here?
What can we expect? There’s the question du jour.
- I’m predicting more of the same in 2010.
- More layoffs.
- More businesses going under.
- More bankruptcies.
- The dollar no longer being the only reserve currency.
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Blast from the past.
Along for the ride.
I believe that the most important thing to remember in these difficult times is that we will get through them. It’s just as important to remember that what is most valuable in life are our loved ones, family and friends.
Back in February 2006 I predicted: “Within the next 5 years there's going to be a financial event of epic proportions and it isn't going to be good. By epic I mean that all of the financial markets will be affected. We're talking dogs sleeping with cats epic”. That prediction along with some others was on my home page at that time. Don’t I wish that I had got this one wrong?!
How did we get here? Greed at the highest levels of finance and government coupled with a complacent population. It was a recipe for disaster. While I’m at it greed is the same economic force behind expanded gambling and will also have an ongoing negative economic impact.
There really isn’t anything that “we the people” can do about this now. At this point we’re just along for the ride so there really isn’t any point to panicking unless that just makes a person feel better.
Ready for the ugly part? This isn’t even close to being over. There will be more financial instruments hitting the skids for quite a few months. The supremacy of the United States dollar is over. More foreign nations are going to call in their markers on poor risks and investments. It’s too early to tell what currency will come out on top in the world market but I’m going to say that right now it’s a toss up that it will be the dollar.
The various fixes being used and proposed amount to running the money printing presses. We don’t have a liquidity problem. We have a debt problem.
Our country was up for sale. Land, businesses, jobs, manufacturing, resources, technology, equipment, you name it and it was up for sale to the lowest bidder. Now, there’s a fire sale of America going on. Fortunes will be lost but fortunes will also be made by the opportunists that are always ready to pounce at times like this where profits can be turned at the expense and misery of others.
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