JP Morgan is in BIG Trouble!

Another Failed Bank: 17 Banks YTD

On March 6, 2009, Freedom Bank of Georgia, Commerce, GA was closed by the Georgia Department of Banking and Finance and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.

http://www.fdic.gov/bank/individual/failed/freedomga.html

The pace of bank failures is accelerating!

Looking for Work? Try Debt Collection

It may not be fun but it's a job. If you're looking for work, seriously consider going into this field.

From LiveCareer News: http://www.livecareer.com/news/Business-Finance-Accounting/Recession-Fuels-Jump-In-Debt-Collection-Industry_$$00536.aspx

Recession Fuels Jump In Debt Collection Industry
03 December 2008
The collection industry is one of few that are making big gains in the current economy.
One by-product of the recession and credit crunch has been a jump in jobs involving debt collection.

A recent report by CNNMoney.com noted that nationwide consumer debt now stands at $2.59 trillion, with many consumers relying more on credit cards to finance their daily cost of living. The website added that there are about 5,500 debt collection agencies in the U.S.

"The fact that debt doesn't go away as fast as it used to is contributing to the increase in debt collectors," Mark Neeb of the Affiliated Group told CNN.

Need added that collectors are now using more efficient methods than ever to track down debtors and receive payments, including for long-past due accounts. This will further fuel demand for these jobs in the coming years.

The Bureau of Labor Statistics also sees high growth in the debt collection industry in the coming years - a "much faster than average" 23 percent jump between now and 2016, to be exact.

The BLS website notes that demand is expected to be particularly strong among hospitals and doctor's offices, as well as government agencies like the Internal Revenue Service.

Senator Bernie Sanders (I-VT) questions Ben Bernanke 3/3/09

Dow Jones Comparison Between 1929 and 2007

Courtesy of Alphatrends.net

george4title's predictions for the next 6 months

If you haven't already... sell everything you have in stocks and bonds (this includes IRA's and other retirement accounts) and hedge yourself against the coming hyperinflation. Now is the best time to buy commodities such as oil, agriculture, and silver at affordable prices.

The Collapse of California

Citigroup of America?

Today the government converted up to $25 billion of its preferred shares for up to a 36% stake in Citigroup, leaving existing common shareholders with a 26% stake.

Looks like our government is creeping towards nationalization...

http://www.bloomberg.com/apps/news?pid=20670001&refer=home&sid=ahlzePGAFrdg

Ron Paul to Ben Bernanke "What Would It Take For You To Admit You Were Wrong?

Peter Schiff's Reaction to Obama's State Of The Union Address