Apr 212010
Here is another interesting chart that the mainstream economists, CNBC and the media probably prefer to ignore so that they can tout the “recovery.” Does this look like things are getting better?
The rate of closures is double where we were last year at this point. Whether this means that the banking system is coming apart is difficult to ascertain. It appears that the “extend and pretend” strategy is failing, at least for the smaller banks. It is likely that commercial real estate is beginning to hit them hard.
From the website of Gordon T. Long.
Cheap Money and Markets
Contrary Dollar View
Crowding Out Your Future
A Timeline for Europe
Banks Not Recovering
The Fed's Counterfeiting Efforts
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