Bankaholic reader Wendell posted a link to this article, which is a realistic, accurate, no-nonsense summary of the current state of the economy. This is MUST read. Here’s a snippet:
I will say it again: the last time we saw these economic indicators was 1977-1979. Do you remember 1979-1981? Let me remind you: falling [...]

I’m surprised mainstream media does not talk about CDS (credit default swaps). CDSs are what crippled insurance giant AIG, and I think you will hear about this issue a lot more in the next few months… and it could get A LOT worse.
Derivatives are THE Problem
Deteriorating home values themselves aren’t to blame for the [...]

How did Congress NOT pass the bailout package?!? Are they stupid or are they crazy? or maybe they are selfish and are simply seeking re-election?
Since when are Capitol Hill pen pushers, who have absolutely no understanding of the daunting $500+ trillion derivatives bubble, qualified to vote on what is best to save the economy?
Who [...]

With the stock market in such a volatile state these days, it’s tempting to dig a hole in your backyard and bury your savings. This way you’d at least know where your money is at all times and how it’s performing for you.
Luckily, there are still some secure places you can invest [...]

Although optimists may argue that the worst of the credit crunch is behind us, I believe that there are still stormy seas ahead. Even JP Morgan’s own CEO, Jamie Dimon, states:
“Our expectation is for the economic environment to continue to be weak–and to likely get weaker–and for the capital markets to remain under [...]

This is Friday’s movie of the day. I’ve posted this clip in the past, but it’s important for everyone to learn how the Federal Reserve is robbing the public.
Watch all five parts of the movie. The first one is playing below.

Read on for clip #2.

Bear Stearns collapses. Is your bank safe?

A few weeks ago, I talked about the important of buying gold bullion as part of your overall portfolio. The US dollar is tanking, inflation is eating away at the American standard of living, and investing in gold is the best solution to protect your assets.
Today I will walk you through the steps of [...]

As I mentioned a few weeks ago, I have been looking for recession-proof ways to invest my money.
Over the last two weeks, I have been slowly cashing out my CD and savings accounts to invest in gold bullion. As some of you may know, gold is currently $970/ounce. Why this may seem like [...]