Archive for bank run

The Governement Bubble – National, State, Local…

Posted in Uncategorized with tags , , , , , , , on December 21, 2012 by highboldtage

Here are a couple of reposts from HighBoldtage Mar. 2010:

The Government Bubble:

It turns out that the bubbles that we have recently experienced – housing, derivatives, banking, insurance, stockes and so on were not just economic bubbles.  It appears that there was also a bubble in government at the same time, and this bubble is now bursting.

California is the poster child for this, with recent furloughs and i.o.u.s for state payments, but this week Los Angeles is starting to lay off 4,000 employees.  Cities all over California are beginning to downsize, along with school districts and transportation systems.  It looks like before it is over a hundred thousand or more government workers in California will soon be unemployed and the ripple effects of that will be immense, particularly in Sacramento.  Also heavily impacted will be the small rural counties like Humboldt where government payrolls account for 30% or more of the local economy.

The Federal government has its own bubble to deal with, with out of control deficit spending it will be unable to bail out the states.  The states will be unable to bail out the cities and counties.  You are on your own.  The Bubble Government is bursting.

have a peaceful day,

Bill

The Government Bubble in Humboldt County

There is one trend that is unmistakable in Humboldt County government:  It has gotten more expensive very quickly, at least as quickly as those dastardly insurance rates.  In just four years, county expenditures have gone up 41%, more than 10% per year.  How does that stack up to your personal experience, Joe Six Pack?

To put this nicely, if the county government increase had been limited to roughly the official inflation rate (lets say around 3%) then the county expenditures exceed that now by some $60,000,000 per year, and rising.  It is possible that Humboldt County residents are getting $60,000,000 worth of services now from their county government  that they didn’t get in 2004.  If so please inform us.  It is also possible that we are paying a lot more for the same thing we were getting in 2004.

http://co.humboldt.ca.us/portal/budget/2009-10/A.pdf

Why the Greek rescue isn’t going to plan

By Mohamed El-Erian

Published: April 7 2010 15:53 | Last updated: April 7 2010 15:53

It should be apparent to all by now: despite the rhetoric out of some European capitals, the Greek rescue package is not going according to plan.

Buoyed by a cyclical recovery, markets around the world have yet to recognise the complexity of this situation. When they do, it will also become apparent that Greece is part of a wider, and historically unfamiliar phenomenon – that of a simultaneous and large disruption to the balance sheet of many industrial countries. Tighten your seat belts.

Mohamed El-Erian is chief executive and co-chief investment officer of Pimco

Copyright The Financial Times

http://www.ft.com/cms/s/0/c2709314-4252-11df-9ac4-00144feabdc0.html

Bank Run In Europe – Rough Weekend for Global Financial Weather

Posted in Uncategorized with tags , , , , , , , , , , , , on May 25, 2012 by highboldtage

On Monday Gavyn Davies, who chairs Fulcrum Asset Management and is an adviser to the British government, wrote in the Financial Times:

“A bank run is now happening within the eurozone. So far it has been relatively slow and prolonged, but it is a run nonetheless. And last week, it showed signs of accelerating sharply, in a way which demands an urgent response from policy-makers.”

http://www.cbsnews.com/8301-505123_162-57441693/analysts-europe-bank-run-is-under-way/

more from google news:  http://urlet.com/advertised.occupations

Is Bank of America Finished?

Posted in Uncategorized with tags , , , , , on September 30, 2011 by highboldtage

Is there a run on Bank of America today?  A rush for the exits?

and there’s this from ZeroHedge:

“Look for BAC to drop to under $6 once the market realizes the implications of this putback tsunami which has just hit the inverse mother lode: a lot of very pissed off German banks.”

http://www.zerohedge.com/news/will-start-landesbank-mortgage-litigation-against-bank-america-push-stock-new-52-week-lows

I Tried to Warn You….

Posted in Uncategorized with tags , , , on August 8, 2011 by highboldtage

way back on June 2….

https://highboldtage.wordpress.com/2011/06/02/sell/

China: Overcapacity – Commodity Stockpiling

Posted in Uncategorized with tags , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , on October 23, 2009 by highboldtage

http://urlet.com/schedule.anything

http://www.rgemonitor.com/emergingmarkets-monitor/257856/chinas_september_data_suggest_that_the_long-term_overcapacity_problem_is_only_intensifying

Bank failures hit 106 on year

Posted in Uncategorized with tags , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , on October 23, 2009 by highboldtage

By Greg Morcroft, MarketWatch

NEW YORK (MarketWatch) — Seven more banks failed Friday, pushing the 2009 total to 106 and marking the first year since 1992 that at least 100 have gone under

Experts suggest we could be no more than 10% of the way through this cycle of bank collapses, which is sure to be the worst run of closures since the Great Depression.

http://urlet.com/len.man

http://www.marketwatch.com/story/bank-failures-hit-100-for-year-2009-10-23

Matt Taibbi on Wall Street Criminals

Posted in Uncategorized with tags , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , on October 22, 2009 by highboldtage

Like all the great merchants of the bubble economy, Bear and Lehman were leveraged to the hilt and vulnerable to collapse. Many of the methods that outsiders used to knock them over were mostly legal: Credit markers were pulled, rumors were spread through the media, and legitimate short-sellers pressured the stock price down. But when Bear and Lehman made their final leap off the cliff of history, both undeniably got a push — especially in the form of a flat-out counterfeiting scheme called naked short-selling.

The new president for whom we all had such high hopes went and hired Michael Froman, a Citigroup executive who accepted a $2.2 million bonus after he joined the White House, to serve on his economic transition team — at the same time the government was giving Citigroup a massive bailout. Then, after promising to curb the influence of lobbyists, Obama hired a former Goldman Sachs lobbyist, Mark Patterson, as chief of staff at the Treasury. He hired another Goldmanite, Gary Gensler, to police the commodities markets. He handed control of the Treasury and Federal Reserve over to Geithner and Bernanke, a pair of stooges who spent their whole careers being bellhops for New York bankers. And on the first anniversary of the collapse of Lehman Brothers, when he finally came to Wall Street to promote “serious financial reform,” his plan proved to be so completely absent of balls that the share prices of the major banks soared at the news.

http://urlet.com/go.caught

http://www.rollingstone.com/politics/story/30481512/wall_streets_naked_swindle