Bank debate stalls

Bankers are in trouble now. OK, the bank debate stalls, while the financial industry tries to brush up its image. There is a lot of corrosion. Yeah, a lot to brush up. What we can tell you is that this image did become tarnished with tales of missing money. It is a wonder how the banks can survive.

Bank failures at 92

Folks, our economy is in ruin. This year there are 92 bank failures. Well, in contrast 2007 had all of three banks go under. I tell people - save your money. Titanic has hit an iceberg and is going down to the bottom. Fed is trying to pump out water, but it comes in faster than we can throw it out. Look at our deficit, it grows every year.

How much longer is the question. Well, the answer is not a whole lot. For one thing, China is now talking about not buying our treasury bills. This means we must monetize debt and after that comes hyperinflation.