The News
The bank failure total for this year is now 17. With the FDIC going broke and all, the senate plans to pass them a loan for the sum total of $500 Billion bucks. Its hard to keep track of all this new money!
Washington plans for big bank failure
20% of home loans in the great state of Florida are now rogue.
1 in 5 home loans in Florida delinquent
The average rate across the country they say is now around 10%.
More Than 11 Percent of Mortgages Delinquent or in Foreclosure
Unemployment is officially at 8.1%
AP:
Here is an alternative Chart through September 2008:
I think a good rule of thumb is to take the official number and double it. So I doubt 16% is far fetched. As people quit buying as much junk, expect Unemployment to continue to go Up^!
Retail Sales:
Remember as Unemployment rises, there will be more crime. Many people out there are loosing their houses, their jobs, and their sanity. I'm not sure where the breaking point will be. Here in downtown Eureka crime has already gone up quite a bit. There have been 2 home invasions this week alone, one occurring at 10am in broad daylight. There have been 3 stabbings since January, resulting in the death of a college student, and one shooting death that is still unsolved. I thought Bakersfield was a rough town. Most of these are drug related as you can guess. Investing in a police scanner isn't a bad idea for anyone, the one I bought is a uniden and costs around $80. It is the very best way to get your local news.
So money continues to be invented at an unfathomable rate, and the rich get richer. I expect General Motors to finally be aloud to go bankrupt next week. I really don't see them selling many more automobiles anymore. Citibank's stock price is floating around .99cents a share now! Hahaha, now if that isn't ironic I'm not sure what is. A company apparently holding billions of dollars, and a share can now be had for less than a big mac. In 2006 a share was $55.70, I'm sure glad I didn't invest in that. Obama calls it a buying opportunity. Though if I were you, and I'm not, but if I was, I'd stick with something to do with agriculture, or something real like precious metals, or some other commodity that will always have value. Walmart and Monsanto have been doing incredibly well, but if you value your soul, I wouldn't give those monsters a nickle.
Generosity is giving more than you can, and pride is taking less than you need.~~~Gibran
Prov.
10:7
The memory of the just is blessed: but the name of the wicked shall rot.
With Love,
Joshua F.
No comments:
Post a Comment