Bank Failures = Depression?
We saw one of the largest banks in the USA - Indymac -, fail about 10 days ago. Anyone with over $100,000.00 in the bank lost their money. Bank failures were a hallmark of The Great Depression in the 1930's, I hope I have the date right.
Regardless of how the government would like to spin this, the only reason most people haven't been wiped out is the presence of FDIC insurance.
Do you think the US government is trying to hide how bad things really are? What do you think the government needs to do to offset the tough times we will grapple with this coming winter?
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