So, How do you feel about this?. . . All warm and fuzzy?

One Out Of Every Ten U.S. Banks Is Now On The FDIC’s Problem List – Do You Know If Your Bank Is Safe?

Do you know if your bank will be there next month?  For a growing number of Americans, that is becoming a very real question.  The Wall Street Journal is reporting that 775 banks (approximately ten percent of all U.S. banks) are now on the Federal Deposit Insurance Corporation's list of "problem" banks.  

The frightening thing is that we are seeing a rapid acceleration in bank failures even though we are supposedly in a "recovery" right now.

In fact, during the first quarter of 2010, the total number of loans that are at least three months past due increased for the 16th consecutive quarter.

16 consecutive quarters?

Once is a coincidence.

Twice is a trend.

Sixteen times in a row is a total nightmare.

Is there anyone out there that is still convinced that the economy is getting better?

Without easy credit, the entire U.S. economic machine is going to slowly grind to a halt.

Want to know more?  Click here.

This from Karl Denninger @ The Market Ticker:     At the core of the foreclosure-prevention strategy is ignoring delinquencies. The percentage of older delinquent loans not yet in foreclosure is startling: 60% have at least 12 missed payments, and 35% have at least 18 missed payments. Add to this that three-fourths of delinquent loans are not in foreclosure, and we see that hidden losses well exceed those in the open.

Instead we have allowed the banksters to rob us once again, fixing nothing.  As this mess continues to unravel - and it will - we will find that in fact we have simply blown more than $4 trillion in borrowed funds and in fact gotten nothing in return for it.

Want to know more?  Click here.

If you have cash in a bank,  it is not paranoid to be concerned about it.  Like the old saying goes,  you're not paranoid if everyone is out to get you.    I would not let any bank hold onto my cash unless I was in a position to lose it.


Some cash good.   Hard assets better.