After a two week interlude (including a Holiday weekend), the FDIC Friday Follies have resumed, with the announced closure of Horizon Bank, Bradenton, Florida.
OBTW, have you noticed how bank failures have become so commonplace that they are hardly even mentioned by the mainstream media?
Treasurys Tumble Following Weak 30-Year Sale. The rate of return on Treasury paper are bound to rise, and that will push up prevailing interest rates, and that in turn will further slow the economy, including home sales. We are poised to enter a death spiral, folks. Watch interest rates and the US Dollar Index (USDI) closely! If rates spike or the USDI drops below 72, consider those big red flags!
Dollar struggles, hovers near 15-year low versus yen. (Thanks to Sue C. for the link.)
Reader M.E.W. sent us this “uh oh” news item that was ignored by the mainstream media in the U.S.: Fears rise as EU nations aim to raise borrowing
Items from The Economatrix:
So Broke We Can’t Pay Attention
Obama’s Economic Plan Not a Hit With Economists
Greek Prime Minister Shuffles Cabinet as New Economic Fears Loom
Dr. Gary North: Federal Reserve’s Digital Bullets Kept an Reserve to Fight Inflation Hedging Mentality
Darryl Schoon: Gold, and the Future Way Through Economic Collapse