In a stunning disclosure, the FDIC has stated that it expects the Deposit Insurance Fund to be negative as of September 30. Tomorrow, depositors have no insurance– the capital of the Federal Deposit Insurance Corporation is gone. Banks are failing all over and the FDIC cash burn-rate is ridiculous. Speed up the printing presses, [...]

We’re not all buying the about-face cheerleading from the Obama administration, and every time I see Economic Advisor Christine Romer, I want to burn her damn pom-poms. Every single time.
Christine says the Obama administration is staging a “wonderful battle” in an economic war that hasn’t been won. Kudos to David Gregory [...]

So what will the massive amounts of printed money feverishly being cranked out do to your family and our country? Remember, we aren’t on the gold standard any more! Glenn Beck illustrates nicely:

Robert from Digital Dreamz chimes in on Right Soup from time-to-time. Here are his thoughts on the stimulus bill.
The United States of America is a wonderful place for many, many reasons. One great aspect is that a lot of government actions are public domain. All bills passed and pending legislation can [...]

From the wise lips of Forrest Gump:
Mortgage Backed Securities are like boxes of chocolates. Criminals on Wall
Street stole a few chocolates from the boxes and replaced them with turds. Their
criminal buddies at Standard & Poor rated these boxes AAA Investment Grade
chocolates. These boxes were then sold all over the world to investors.
Eventually somebody bites into [...]

CSPAN’s coverage from today of the House Of Representatives arguments from the floor on releasing the second half of the $700 billion TARP fund- very revealing about the details of what’s crammed in there, and how completely nuts our legislators have become. Also very revealing about how quickly Congress is finishing off our economy [...]

For those of you who haven’t seen “I.O.U.S.A.”, and missed CNN’s airing of the condensed version, here it is. The film is highly acclaimed, and has been a big hit. It’s about the staggering amount of money – ($53 trillion at the time the film was released in 2008) in financial obligations owed [...]

Well, private sector, consider yourselves rendered impotent: you can’t be the engine you have always been for the U. S. economy. True to the liberal playbook, Barack Obama said today that the private sector, typically the genesis, cannot do what is needed now to stop our economic freefall.
“At this particular moment, only government [...]

Well, today’s the day that the electoral college votes for the Presidential election will be counted. The fun begins at 1pm ET, and you can watch it live here. Unfortunately, don’t look for anything to keep Obama from being declared the winner, despite a lot of controversy over his eligibility to hold the [...]

Jim Rogers, one of the world’s most prominent international investors, called most of the largest U.S. banks “totally bankrupt” yesterday, and said government efforts to fix the sector are wrongheaded.
Speaking by teleconference at the Reuters Investment Outlook 2009 Summit, the co-founder with George Soros of the well-known em>Quantum Fund, said the government’s $700 billion [...]