A Good, Old Fashioned Bank Run!

An interesting story above! Looks like there was a good, old fashioned bank run at IndyMac! That's sad for the people who still have their money in the badly broken U.S. banking system, but at least people are starting to wake up! Hopefully, more people will start pulling their money out of the system and putting it on gold, silver, oil, or something else which is real. Normally, I would include real-estate on the list, but personally I think that market still has a long way to fall, and as long as Helicopter Ben keeps dumping money into the system, whether through Corporate Welfare Bailouts or through simple printing of counterfeit money backed by nothing but a politician's promise, the market cannot adjust to reality. I can hear Scotty, down in Engineering, screaming:
She canna take the strain, Captain! She's breaking up! I canna change the laws of Economics, Captain!
So stock up on something of real value, guys, 'cause either we're heading for trouble!

1 comment:

Anonymous said...

Speaking of stocking up, my first two choices have become wood for heating and preserved food. Although energy prices have dropped recently, the long term trend is probably up. People will pay to have trees removed and trimmed. The trunks and larger branches can be segmented and split, if necessary, and then converted into useful heat energy in a wood burning heater, furnace or fireplace. As far as food is concerned, it is surprising how much can be produced in a relatively small garden provided that the location is very sunny and one has access to water when rainfall is inadequate - less than one inch per week. Canning can be a little tedious but I have always found it well worth the effort.