Showing posts with label collapse. Show all posts
Showing posts with label collapse. Show all posts

2008-07-15

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!