We have witnessed the highest bank failure rate since the Great Depression. The banking industry continues on a weekly basis. When will it end? That is my question. There has to be an end to this madness. There will be only a few major banks that control the entire industry. Prices will continue to increase in the banking idustry as the pool of banks continues to lessen as they continue to close down.
I came across this article that explains the banking crisis in a detailed order. He predicts that this will be the biggest bank failure even more than the Great Depression Era. Let's look at the 5 Indicators
- Banks Not Doing Enough Business
- Banks Are Failing at a Rate Not Anticipated Two Months Ago
- Defaults Are Going to Increase for Several More Quarters
- The FDIC Is in Trouble
- We May Be Going to Historic Lows in Bank Credit
Conclusion:
We all hope that we can pull out of this recession. However, one cannot tell that we are in a recession by all the people shopping at malls, eating at restaurants, and still traveling at record levels. Is the media pulling our legs? The numbers do tell all. I believe the Federal Government is doing their best to create consumer confidence back into the market. The news media continues to report any good news at all possible times to generate confidence. Why? They want the American people to spend their money so we can get out of the recesssion.
cited Coming Soon: Banking Crisis of Historic Proportions
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