Bank Bailout?

What exactly is going on?

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Wachovia joins the list

I predicted that Wamu and Wachovia would go under, and more are on the way. Well, now we find out that two banks are bidding for Wachovia. Expect more banks to fall as things get worse.

Trouble ahead, bank on it

The fall of the largest US savings and loan, Washington Mutual sent shivers up the spine of many a trader. The stock is almost worthless. Many people are wiped out when federal regulators seized wamu and it was later sold for $1.9 billion to JP Morgan Chase the second largest bank in the US.


To put this in perspective, you have a perfect storm with economic collapse hitting right before an election. Things can and will get scary if we do nothing.

What does the future look like?

View the full GM chart at Wikinvest

GM is going thru a rough patch. If banks stop loaning money how will people purchase new vehicles? Look at the big picture.

Jobless rate near seven year high

The rising rate of unemployment is blamed on Hurricane Gustav and we have the highest jobless claims in seven years. However, I believe that the real reason is that we are in economic collapse right now. The goal of the government was to pretend that all was well.

Wake up, the banks are bankrupts, the jobs are gone, and our few remaining factories are closing. And all exec do is say "gotta cut costs! Outsouurce! Downsize!" Well, if that was the solution we would be fine. No, that is the problem. Globalization did cause our crisis. All those jobs we lost by moving factories to Red China are the reason people cannot pay their mortgages. No job = no money.

Right now new home sales are at the lowest level in 17 years. We are selling less than a 1/3 the houses we sold in 2005. The economy is in free fall, as in falling off a cliff.

Record housing drop

Housing prices at a catastrophic drop. The record drop in August means that we are not slowly digging out, but instead going deeper. I see dark days ahead as the economy implodes.

People have lost faith in america and are liquidating their assets. The new funny money like the candy color pastel pink fifty dollar bills and the orangeback tens that look like monopoly money do not inspire confidence.

Situation Dire

Today financial markets are in state of total disarray. Technical analysts are predicting 2,500 gold as the dollar declines in the month to come. Tremors on Wall Street have accelerated the drop in the dollar overall while a crisis of confidence causes total global economic collapse. We see a global economic depression affecting the amerozone, eurozone, and rest of the world.

Inability of world leaders to prevent the demise of financial institutions will further undermined confidence to the extent that people will lose faith in the dollar. Trillions of dollars used for a bank bailout will cause further inflation as the fed in a move of utter desperation attempts to pump liquidity into the financial markets. As I have said before our situation is dire. Federal regulation of our financial markets can only be classified as an unmitigated disaster. The lack of fiduciary responsibility by our financial institutions has plunged us over a precipice.

Reactor Fire

Fire shuts down Cook 1 nuclear reactor. A fire at a nuclear power plant on the shores of Lake Michigan 50 miles east of Chicago cause a minor stir.

I got out my geiger counter and noticed elevated levels of background radiation. The normal click count is 5 per minute, and today it was up to 50 counts per minute, meaning that background radiation levels ten times normal.

However, in a nuclear accident like Chernobyl background levels could climb 1000X normal and become life threatening. People need to begin to prepare for the possibility that this "fire" at a nuclear power plant was not an accident.

Bank system nears collapse

We face a crisis of record proportion and it can cause recession 2.0 to be worse than ever before if we do nothing. The writing is on the WALL STREET!

Gold soars

The price of gold shot up $70 in one day the highest ever on market jitters over Wall Street as investors seek a safe haven. I predict that as markets enter panic mode you will see gold soar to 2,000 and many people will go for the gold. I advise people to be careful as markets are in a state of entropy right now.

Take a look at the US dollar, because I forecast inflation and devaluation of the greenback. Although we saw the dollar rise against the euro in the last few month, I predict it will be a roller coaster ride next year.

McCain against bank bailout

It may cost tax payers as much as one trillion dollars to bail out the banks in the latest estimate. McCain is against the bank bailout which helps billionaire bankers while not giving a penny to the poor.

The rich must love the bank bailout. They made money from the bad loans and now the stuggling american worker must bail them out when chickens come home to roost.

Oil back up

Traders say that refineries affected by Hurricane Ike are still not back. Therefore the price of crude oil is up today on fears of a shortage. The US lost about 20% of its production and 97% of gulf rigs are still not producing. Flooding was more extensive than initially thought.

FDIC in trouble

Your money is insure by FDIC right? Well, maybe you should know that the federal bank insurance fund dwindling and bank deposit safety is in doubt.

I predict dark days ahead for the whole world. Well, some people say this is related to the new amero currency, plus the merger of america & mexico into a NAU or north american union.

AIG to get loan

World's largest insurance company AIG will get a bridge loan of 85 billion from gov to help it survive. The situation is worse every day as Wall Street tries to digest even more bad news. Mortgage meltdown is now affecting insurance companies and threatens to take down the whole financial macroeconomic infrastructure with people's money on the line. Already the FDIC is having to borrow money from the treasury.

Caution, Falling STOCKS

Today is a sad day on Wall Street. Merrill Lynch was bought by Bank of America, Lehman bros went bankrupt, and AIG is in trouble. Things are getting worse. I predict that we are entering a deepening depression.

When you see the giants are falling it does not take a genius to see that the economy is falling apart. Expect shortages of food & fuel in the future as all systems break down.

Ebay in trouble will cut 1500

Ebay is in trouble and they will cut 10% of their 15,000 workforce and lay off 1,500 workers. The cut in jobs is because people are leaving Ebay after they made changes. It is now more difficult for sellers to use the service and buyer will soon be forced to use paypal.

Social Networking Nightmare

The danger of social networking is that your information could be used by a stalker. Many people who are not well have access to the internet. They often will search the social networking sites looking for victims. It is important to not post personal information.

Toyota has new Prius

Toyota has a new lithium plug in hybrid Prius that goes on sale in 2010. This is great news because lithium is light weight and has a powerful energy density. It could make electric cars a reality in the near future.

Big Banks Fall

Right after the government take over of Fannie Mae and Freddie Mac, I said that the worst is still to come. Well, now we see that Lehaman Brothers, the forth largest investment bank lost nearly four billion and may soon close its doors. People may start to panic when the government runs out of money to bail out the banks. Expect trouble.

LHC online

The Large Hardron Collider is up and running. All is fine in swiss. Well, some now say that it could create a tiny black hole. John Titor predicted that the LHC would form tiny black holes back in 2000.