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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (100860)	8/15/2009 3:34:54 AM
From: axial	2 Recommendations Read Replies (2) \| Respond to of 116555

Mish, the following video was sent to me by Plato. While I realize the speaker's views diverge from yours, the data she presents very much support the view that US consumer resources are gone. She made that case convincingly in 2007. In 2009, it must be doubly true. The Coming Collapse of the Middle Class tinyurl.com Elizabeth Warren: The Coming Collapse of the Middle Class: Higher Risks, Lower Rewards, and a Shrinking Safety Net A look at the economic issues facing the middle class. First Air Date: 6/11/2007 Views: 175127 uctv.tv Jim

To: mishedlo who wrote (100860)	8/15/2009 9:45:41 AM
From: Hawkmoon	Read Replies (1) \| Respond to of 116555

She needs a math lesson. The cost of FDIC is staggering, and the benefits are negative. NO.. the manner in which it has been managed is asinine. As you stated, the FDIC should have stepped in far earlier and closed some of these banks. But I'm not actually sure they can over-ride the Federal Reserve in these matters. But without FDIC, we would have a repeat of the bank failures in 1932, and the loss of billions in depositor funs. People standing in line in front of closed doors. Everyone else would be burying their remaining cash in the back yard. I think NOT having FDIC would be asinine. But it needs to be managed properly and have the teeth to enact banking standards from which there should be no deviation. Hawk

To: mishedlo who wrote (100860)	8/15/2009 11:50:17 AM
From: dave9	Respond to of 116555

If 346 branches of 1 bank close, when compared to the number of defaults in the last depression is 346 used or 1 for the number of closures? Side note: I use to bank with a small 4-branch small town bank. For some reason they joined with other regional banks and now I bank with an outfit with 28 banks. Not sure what is up with that other than other than it is difficult for small banks to exist.