I told you so!!!

[jasd]

>>See that shows that you have been wrong so many times this forum!!!!<<

Ahh, the blade sings! good riposte. That said, about the "typo",

better we should not indulge in the sycophantic at the expense of our better sense...

[jasd]

>>Well I did benefit from the collapse of the British empire (sort of) so perhaps I can make something out of the collapse of this one.<<

Indeed, to have gone from ruling the waves to a pitiful Navy of 22 ships is - well, pitiful. Might one suppose that the costs incurred by the UK's embrace of Socialism

prohibit even the common sensical investments necessary to defend the Isles?

Re "collapse": Indeed, it is my belief that Writ foretells this event vis-à-vis the UK and America; that said,

wasn't it Rhett Butler who noted that fortunes are made in both the building of Empires as well as their collapse?

Good prospecting...!

[lazarus]

This could be fake but I'll post it anyway:

The Turner Radio Network has obtained "stress test" results for the top 19 Banks in the USA. (Corrections/clarifications below in orange)

The stress tests were conducted to determine how well, if at all, the top 19 banks in the USA could withstand further or future economic hardship.

When the tests were completed, regulators within the Treasury and inside the Federal Reserve began bickering with each other as to whether or not the test results should be made public. That bickering continues to this very day as evidenced by this "main stream media" report.

The Turner Radio Network has obtained the stress test results. They are very bad. The most salient points from the stress tests appear below.

1) Of the top nineteen (19) banks in the nation, sixteen (16) are already technically insolvent. (Based upon the “alternative more adverse” scenario which had a 3.3 percent contraction of the U.S. Economy in 2009, accompanied by 8.9 percent unemployment, followed by 0.5 percent growth of the U.S. Economy but a 10.3 percent jobless in 2010.)

2) Of the 16 banks that are already technically insolvent, not even one can withstand any disruption of cash flow at all or any further deterioration in non-paying loans. (Without further government injections of cash)

3) If any two of the 16 insolvent banks go under, they will totally wipe out all remaining FDIC insurance funding.

4) Of the top 19 banks in the nation, the top five (5) largest banks are under capitalized so dangerously, there is serious doubt about their ability to continue as ongoing businesses.

5) Five large U.S. banks have credit exposure related to their derivatives trading that exceeds their capital, with four in particular - JPMorgan Chase, Goldman Sachs, HSBC Bank America and Citibank - taking especially large risks.

6) Bank of America`s total credit exposure to derivatives was 179 percent of its risk-based capital; Citibank`s was 278 percent; JPMorgan Chase`s, 382 percent; and HSBC America`s, 550 percent. It gets even worse: Goldman Sachs began reporting as a commercial bank, revealing an alarming total credit exposure of 1,056 percent, or more than ten times its capital! (HSBC is NOT in the top 19 banks undergoing a stress test, but is mentioned in the report as an aside because of its risk capital exposure to derivatives)

7) Not only are there serious questions about whether or not JPMorgan Chase, Goldman Sachs,Citibank, Wells Fargo, Sun Trust Bank, HSBC Bank USA, can continue in business, more than 1,800 regional and smaller institutions are at risk of failure despite government bailouts!

The debt crisis is much greater than the government has reported. The FDIC`s "Problem List" of troubled banks includes 252 institutions with assets of $159 billion. 1,816 banks and thrifts are at risk of failure, with total assets of $4.67 trillion, compared to 1,568 institutions, with $2.32 trillion in total assets in prior quarter.

Put bluntly, the entire US Banking System is in complete and total collapse.

Bonifides

For those who may be skeptical about the veracity of the stress test report above, be reminded that only last Sunday, April 12, this radio network obtained and published a Department of Homeland Security (DHS) Memo outlining their concerns that returning US military vets posed a domestic security threat as "right wing extremists." That memo, available here, is marked "FOR OFFICIAL USE ONLY" and contained strict warnings that it was not to be released to the public or to the media. We obtained it and published it days before other media outlets.

Details of certain aspects of the stress test reported above have now been CONFIRMED through REUTERS News service when they disclosed the risk-capital percentages publicly on April 6, 2009 at this link

Further, todays Wall Street Journal (April 20, 2009) is confirming at this link that lending by the largest banks has DECREASED 23% since the government began the T.A.R.P. program, causing many in Congress to ask where the money has actually been going. Apparently, it has been going into propping-up the failing banks instead of out in loans to the public.

http://turnerradionetwork.blogspot.com/2009/04/leaked-bank-stress-test-reults.html

[Dr. Shane]

Economies run in cycles. There are ups and downs. The idea that we can control it only postpones the inevitable. The government is too big in the US. Click on this link to see its growth -->> US Government Spending As Percent Of GDP Ideally it would be good to keep government spending between 20% & 30% of the GDP.

The Federal Reserve has lowed interest rates in order to stimulate the economy but what that has done is create an artificial boom. This recession is the correction of the artificial boom. Higher interest rates will encourage savings and provide retirement income for the elderly. The interest rate now is way too low. Ideally we should have a prime rate between 5% & 8%.