Update #7: Check your bank’s rating and list of closed banks to-date

Brace yourself.

This is the 7th Update of this post since early 2009.  In 2009, 140 banks were shuttered by the FDIC. To-date in 2010, 139 banks have been seized. I guess you could call that an improvement, but that it’s only November.

We have certainly come a long way since Penny Pritzker of Hyatt fame, the Mother of Subprime Lenders and  insolvent Failed Banks, first got the ball rolling. You remember Penny, don’t you? Barack’s Chicago friend and National Finance Chair of Barack’s election Campaign. Why Penny’s failed Superior Bank in Chicago folded long before the rush. Being first is such a badge. After his selection and subsequent election, Barack also offered her the position of head of the Department of Commerce. You can’t make this shit up. Wisely, she turned it down. I wonder if she finished paying off that $460,000,000 she owed the FDIC.

As you review the failed bank list below, I know you will find it hard to understand why the electorate punished Barack Obama in last week’s elections. After all, Happy Days Are Here Again!

But not to worry! Barack is on it!

He’s on it in India.

I know that these bank closings make me feel better about keeping my money in a bank and that reviewing them makes me feel as though we have turned the corner, and I know you feel the same way. Don’t let the fact that the FDIC is underfunded for what’s been happening bother your silly little head. Barack can always print more money just like he’s been doing right along. Why, the FED just printed up another $600 billion to pump into the economy. So what if it isn’t worth the paper it’s printed on?  And don’t let the fact that printing money devalues the dollar regularly scare you either. I mean who cares if the dollar will eventually be worthless, right? Then we can go on that “world currency” George Soros is drooling over. Then the USA can just be one of the guys with all the other third world countries while unseen manipulators continue to spread our wealth around to other places as well as into their own pockets. I love when they do that, don’t you? Especially with countries that haven’t got a pot to piss in and hate our guts at the same time. Why, if we are good, we might even get a couple of goats too! 

I left the original post that appeared above the closed bank list intact because it contains some valuable information that has not changed. Please read it and use the links to check your bank’s ratings. Know that these ratings can change, so check your bank out periodically. Nothing is more endearing than to find out your bank is seized and you can’t access your checking account to pay your bills until some government yahoo says you can.

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money-catRight now, we all feel like we don’t know what to do with cash if we have it.

Many of us have accounts with banks and worry about whether or not they are solvent. Even with the FDIC promise, I know many people still worry about how easily or quickly they would be able to get access to their own money if their bank were to have problems.

You should also know that if a large failing bank were to be Nationalized, the stockholders would take the hit, but the account holders would not. In other words, if you have an account in one of these banks, it will remain intact. Whether or not limits would be set on how and when money can be removed remains to be seen. It has happened with some of these banks that have failed in order to quell “Runs” on the money. So it would be a LOT easier to check your bank’s status now than to worry about it later. Of course, a bank’s rating can change as well, from bad to better or from good to not-so-good. So it’s best to check back every so often.

If you want to check your bank’s  current rating or your credit union’s rating, go to the Safe and Sound at Bankrate.com.

You can also check the ratings for all the banks in your city, state, region. For each bank, you can get a report that provides more details as to why the bank has a particular rating.

Here’s a list of bank closings for 2008 thru 2010. You can see 2007 and earlier closings list here. As you can see, this has been going on for awhile.  The publicity on these closings was practically non-existent in 2007, and fairly paltry in 2008. In fact if you click on that link, you will see that there were bank Closings all the way back to 2000, with Penny Pritzker’s Superior Bank as one of the early, avoid-the-rush  sub-prime lender seizures.

In some cases, the FDIC takes over the bank, but in many of the cases, accounts are just transferred to more solvent area banks, which makes for a smoother transition for customers.

2010

Oct 22 – First Arizona Savings, A F.S.B., Scottsdale, AZ

Oct 22 – Hillcrest Bank, Overland Park, KS

Oct 22 - First Suburban National Bank, Maywood, IL

Oct 22 – The First National Bank of Barnesville, Barnesville, GA

Oct 22 – The Gordon Bank, Gordon, GA

Oct 22 – Progress Bank Of Florida, Tampa, FL

Oct 22 - First Bank Of Jacksonville, Jacksonville, FL

Oct 15 – Premier Bank, Jefferson City, MO

Oct 15 – WestBridge Bank and Trust Company, Chesterfield, MO

Oct 15 - Security Savings Bank, F.S.B., Olathe, KS

Oct 01 – Shoreline Bank, Shoreline, WA

Oct 01 – Wakulla Bank, Crawfordville, FL

Sep 24 – North County Bank, Arlington, WA

Sep 24 - Haven Trust Bank Florida, Ponte Vedra Beach, FL

Sep 17 – Maritime Savings Bank, West Allis, WI

Sep 17 – Bramble Savings Bank, Milford, OH

Sep 17 – The People’s Bank, Winder, GA

Sep 17 – First Commerce Community Bank, Douglasville, GA

Sep 17 - Bank of Ellijay, Ellijay, GA

Sep 17 – ISN Bank, Cherry Hill, NJ

Sep 10 - Horizon Bank, Bradenton, FL

(Note:  Our underfunded FDIC held a Moratorium on bank closings from Aug 21 thru September 9. I guess the FED had to print some money for them)

Aug 20 – Sonoma Valley Bank, Sonoma, CA

Aug 20 – Los Padres Bank, Solvang, CA

Aug 20 - Butte Community Bank, Chico, CA

Aug 20 – Pacific State Bank, Stockton, CA

Aug 20 – ShoreBank, Chicago, IL

Aug 20 - Imperial Savings and Loan Association, Martinsville, VA

Aug 20 - Independent National Bank, Ocala, FL

Aug 20 – Community National Bank at Bartow, Bartow, FL

Aug 13 – Palos Bank and Trust Company, Palos Heights, IL

Aug 06 – Ravenswood Bank, Chicago, IL

Jul 30 - LibertyBank, Eugene, OR

Jul 30 – The Cowlitz Bank, Longview, WA

Jul 30 – Coastal Community Bank, Panama City Beach, FL

Jul 30 - Bayside Savings Bank, Port Saint Joe, FL

Jul 30 – NorthWest Bank & Trust, Acworth, GA

Jul 23 - Home Valley Bank, Cave Junction, OR

Jul 23 - SouthwestUSA Bank, Las Vegas, NV

Jul 23 – Community Security Bank, New Prague, MN

Jul 23 – Thunder Bank, Sylvan Grove, KS

Jul 23 – Williamsburg First National Bank, Kingstree, SC

Jul 23 – Crescent Bank and Trust Company, Jasper, GA

Jul 23 – Sterling Bank, Lantana, FL

Jul 16 – Mainstreet Savings Bank, Hastings, MI

Jul 16 - Olde Cypress Community Bank, Clewiston, FL

Jul 16 – Turnberry Bank, Aventura, FL

Jul 16 - Metro Bank of Dade County, Miami, FL

Jul 16 - First National Bank of the South, Spartanburg, SC

Jul 16 – Woodlands Bank, Bluffton, SC

Jul 09 – Home National Bank, Blackwell, OK

Jul 09 – USA Bank, Port Chester, NY

Jul 09 – Ideal Federal Savings Bank, Baltimore, MD

Jul 09 - Bay National Bank, Baltimore, MD

Jun 25 – High Desert State Bank, Albuquerque, NM

Jun 25 – First National Bank, Savannah, GA

Jun 25 - Peninsula Bank, Englewood, FL

Jun 18 – Nevada Security Bank, Reno, NV

Jun 11 – Washington First International Bank, Seattle, WA

Jun 04 – TierOne Bank, Lincoln, NE

Jun 04 – Arcola Homestead Savings Bank, Arcola, IL

Jun 04 – First National Bank, Rosedale, MS

May 28 - Sun West Bank, Las Vegas, NV

May 28 – Granite Community Bank, N.A., Granite Bay, CA

May 28 – Bank of Florida – Tampa Bay, Tampa, FL

May 28 - Bank of Florida – Southwest, Naples, FL

May 28 – Bank of Florida – Southeast, Ft. Lauderdale, FL

May 21 - Pinehurst Bank, Saint Paul, MN

May 14 - Midwest Bank and Trust Company, Elmwood Park, IL

May 14 - Southwest Community Bank, Springfield, MO

May 14 – New Liberty Bank, Plymouth, MI

May 14 – Satilla Community Bank, Saint Marys, GA

May 07 – 1st Pacific Bank of California, San Diego, CA

May 07 - Towne Bank of Arizona, Mesa, AZ

May 07 – Access Bank, Champlin, MN

May 07 - The Bank of Bonifay, Bonifay, FL

Apr 30 – Frontier Bank, Everett, WA

Apr 30 – BC National Banks, Butler, MO

Apr 30 - Champion Bank, Creve Coeur, MO

Apr 30 - CF Bancorp, Port Huron, MI

Apr 30 - Westernbank Puerto Rico, Mayaguez, PR

Apr 30 – R-G Premier Bank of Puerto Rico, Hato Rey, PR

Apr 30 – Eurobank, San Juan, PR

Apr 23 – Wheatland Bank, Naperville, IL

Apr 23 – Peotone Bank and Trust Company, Peotone, IL

Apr 23 – Lincoln Park Savings Bank, Chicago, IL

Apr 23 – New Century Bank, Chicago, IL

Apr 23 – Citizens Bank and Trust Company Of Chicago, Chicago, IL

Apr 23 - Broadway Bank, Chicago, IL

Apr 23 – Amcore Bank, National Association, Rockford, IL

Apr 16 – City Bank, Lynnwood, WA

Apr 16 – Tamalpais Bank, San Rafael, CA

Apr 16 – Innovative Bank, Oakland, CA

Apr 16 – Butler Bank, Lowell, MA

Ape 16 – Riverside National Bank of Florida, Fort Pierce, FL

Apr 16 – AmericanFirst Bank, Clermont, FL

Apr 16 - First Federal Bank of North Florida, Palatka, FL

Apr 16 - Lakeside Community Bank, Sterling Heights, MI

Apr 9 – Beach First National Bank, Myrtle Beach, SC

Mar 26 - Desert Hills Bank, Phoenix, AZ

Mar 26 - Unity National Bank, Cartersville, GA

Mar 26 – Key West Bank, Key West, FL

Mar 26 – McIntosh Commercial Bank, Carrollton, GA

Mar 19 - State Bank of Aurora, Aurora, MN

Mar 19 – First Lowndes Bank, Fort Deposit, AL

Mar 19 – Bank of Hiawassee, Hiawassee, GA

Mar 19 - Appalachian Community Bank, Ellijay, GA

Mar 19 – Advanta Bank Corp., Draper, UT

Mar 19 – Century Security Bank, Duluth, GA

Mar 19 – American National Bank, Parma, OH

Mar 12 - Statewide Bank, Covington, LA

Mar 12 - Old Southern Bank, Orlando, FL

Mar 12 - The Park Avenue Bank, New York, NY

Mar 11 - Liberty Pointe Bank, New York, NY

Mar 5 - Centennial Bank, Ogden, UT

Mar 5 - Waterfield Bank, Germantown, MD

Mar 5 - Bank of Illinois, Normal IL

Mar 5 –  Sun American Bank, Boca Raton, FL

Feb 26 – Ranier Pacific Bank, Tacoma, WA

Feb 26 – Carson River Community Bank, Carson City, NV

Feb 19 – La Jolla Bank, FSB, La Jolla, CA

Feb 19 – George Washington Savings Bank, Orland Park, IL

Feb 19 – The La Coste National Bank, La Coste, TX

Feb 19 - Marco Community Bank, Marco Island, FL

Feb 05 – 1st American State Bank of Minnesota, Hancock, MN

Jan 29 – American Marine Bank, Bainbridge Island, WA

Jan 29 – First Regional Bank, Los Angeles, CA

Jan 29 – Community Bank & Trust, Cornelia, GA

Jan 29 – Marshall Bank, National Association, Hallock, MN

Jan 29 - Florida Community Bank, Immokalee, FL

Jan 29 – First National Bank of Georgia, Carrollton, GA

Jan 22 – Columbia River Bank, The Dalles, OR

Jan 22 – Evergreen Bank, Seattle, WA

Jan 22 - Charter Bank, Santa Fe, NM

Jan 22 – Bank of Leeton, Leeton, MO

Jan 22 - Premier American Bank, Miami, FL

Jan 15 – Barnes Banking Company, Kaysville, UT

Jan 15 - St. Stephen State Bank, St. Stephen, MN

Jan 15 – Town Community Bank and Trust, Antioch, IL

Jan 08 - Horizon Bank, Bellingham, WA

2009

Dec 18 -First Federal Bank of California, F.S.B., Santa Monica, CA

Dec 18 – Imperial Capital Bank, La Jolla, CA

Dec 18 – Independent Bankers’ Bank, Springfield, IL

Dec 18 – New South Federal Savings Bank, Irondale, AL

Dec 18 – Citizens State Bank, New Baltimore, MI

Dec 18 – People’s First Community Banks, Panama City, FL

Dec 18 – RockBridge Commercial Bank, Atlanta, GA

Dec 11 – Solutions Bank, Overland Park, KS

Dec 11 -Valley Capital Bank, N.A., Mesa, AZ

Dec 11 – Republic Federal Bank, N.A., Miami, FL

Dec 04 – Greater Atlantic Bank, Reston, VA

Dec 04 – Benchmark Bank, Aurora, IL

Dec 04 – AmTrust Bank, Cleveland, OH

Dec 04 – The Tattnall Bank, Reidsville, GA

Dec 04 – First Security National Bank, Norcross, GA

Dec 04 – The Buckhead Community Bank, Atlanta, GA

Nov 20   Commerce Bank of Southwest Florida, Fort Myers, FL

Nov 13 – Pacific Coast National Bank, San Clemente, CA

Nov 13 – Orion Bank, Naples, FL

Nov 13 – Century Bank, F.S.B., Sarasota, FL

Nov 06 – United Commercial Bank, San Francisco, CA

Nov 06 – Gateway Bank of St. Louis, St. Louis, MO

Nov 06 – Prosperan Bank, Oakdale, MN

Nov 06 – Home Federal Savings Bank, Detroit, MI

Nov 06 – United Security Bank, Sparta, GA

Oct 30- North Houston Bank, Houston, TX

Oct 30- Madisonville Bank, Madisonville,  TX

Oct 30- Citizens National Bank, Teague, TX

Oct 30- Park National Bank, Chicago, IL

Oct 30- Pacific National Bank, San Francisco, CA

Oct 30- California National Bank, Los Angeles, CA

Oct 30- San Diego National Bank, San Diego, CA

Oct 30- Community Bank of Lemont, Lemont, IL

Oct 30- Bank USA, N.A., Phoenix, AZ

Oct 23- First DuPage Bank, Westmont, IL

Oct 23- Riverview Community Bank, Otsego, MN

Oct 23- Bank of Elmwood, Racine, WI

Oct 23- Flagship National Bank, Bradenton, FL

Oct 23- Hillcrest Bank Florida, Naples, FL

Oct 23- American United Bank, Lawrenceville, GA

Oct 23- Partners Bank, Naples, FL

Oct 16- San Joaquin Bank, Bakersfield,  CA

Oct 02- Southern Colorado Bank, Pueblo, CO

Oct 02- Jennings State Bank, Spring Grove, MN

Oct 02- Warren Bank, Warren, MI

Sept 25- Georgian Bank, Atlanta, GA

Sept 18- Irwin Union Bank F.S.B.,  Louisville, KY

Sept 18- Irwin Union Bank and Trust Company, Columbus, IN

Sept 11- Venture Bank, Lacey, WA

Sept 11- Brickwell  Community Bank, Woodbury, MN

Sept 11- Corus Bank,  N.A., Chicago, IL

Sept 04- First State Bank, Flagstaff, AZ

Sept 04- Platinum Community Bank, Rolling Meadows, IL

Sept 04- Vantus Bank, Sioux City, IA

Sept 04- InBank, Oak Forest, IL

Sept 04-  First Bank of Kansas City, Kansas City, MO

Aug 28- Affinity Bank, Ventura, CA

Aug 28- Mainstreet Bank, Forest Lake, MN

Aug 28- Bradford Bank, Baltimore, MD

Aug 21- Guaranty Bank, Austin, TX

Aug 21- CapitalSouth Bank, Birmingham, AL

Aug 21- First Coweta Bank, Newnan, GA

Aug 21- ebank, Atlanta, GA

Aug 14- Community Bank of Nevada, Las Vegas, NV

Aug 14- Community Bank of Arizona, Phoenix, AZ

Aug 14- Union Bank, National Association, Gilbert, AZ

Aug 14- Colonial Bank, Montgomery, AL

Aug 14 -Dwelling House Savings and  Loan, Pittsburgh, PA

Aug 07 -Community First Bank, Prineville, OR

Aug 07 -Community National Bank of Sarasota County, Venice, FL

Aug 07 -First State Bank, Sarasota, FL

July 31 -Mutual Bank, Harvey, IL

July 31 -First BankAmericano, Elizabeth, NJ

July 31 -Peoples Community Bank, West Chester, OH

July 31 -Integrity Bank, Jupiter, FL

July 31 - First State Bank of Altus, Altus, OK

July 24 -Security Bank of Jones County-Gray,GA

July 24 -Security Bank of Houston County, Perry, GA

July 24 -Security Bank of Bibb County- Macon, GA

July 24 -Security Bank of North Metro- Woodstock, GA

July 24 – Security Bank of North Fulton-Alpharetta, GA

July 24 - Security Bank of Gwinnet County-Suwanee,GA

July 24 - Waterford Village Bank-Williamsville,NY

July 17 – Temecula Valley Bank-Temacula,CA

July 17 – Vineyard Bank, National Association-Rancho Cucamonga,CA

July 17 – BANKFIRST-Sioux  Falls,SD

July 17 – First  Piedmont Bank-Winder,GA

July 10 - Bank of Wyoming-Thermopolis,WY

July 02 – Founders Bank-Worth,IL

July 02 –  Millenium State Bank of Texas-Dallas,TX

July 02 – First National Bank of Danville-Danville,  IL

July 02 – Elizabeth State Bank-Elizabeth, IL

July 02 – Rock River Bank-Oregon, IL

July 02 – First State Bank of Winchester-Winchester, IL

July 02 – The John Warner Bank-Clinton, IL

June 26 – Mirae Bank-Los Angeles, CA

June 26 - MetroPacific Bank-Irvine, CA

June 26 – Horizon Bank-Pine City, MN

June 26 – Neighborhood Community Bank, Newnan, GA

June 26 – Community Bank of West Georgia-Villa Rica, GA

June 19 – First National Bank of Anthony-Anthony, KS

June 19 – Cooperative Bank-Wilminton, NC

June 19 – Southern Community Bank-Fayetteville, GA

June 05 –  Bank of Lincolnwood-Lincolnwood, Il

May 22-  Citizens National  Bank-Macomb, IL *

May 22-  Strategic Capital Bank-Champaign, IL *

May 21-  Bank United, FSB-Coral Gables, FL *

May 08- Westsound Bank-Bremerton, WA *

May 01- American West Bank-Layton, UT

May 01- Citizens Community Bank-Ridgewood, NJ

May 01- Silverton Bank, N.A.-Atlanta, GA


Apr 24- First Bank of Idaho-Ketchum, ID

Apr 24- First Bank of Beverly Hills-Calabasas, CA

Apr 24- Michigan Heritage Bank-Farmington Hills, MI

Apr 24- American Southern Bank-Kennesaw,GA

Apr 17-  Great Basin Bank of Nevada-Elko, NV

Apr 17- American Sterling Bank-Sugar Creek, MO

Apr 10- New Frontier Bank, Greeley, CO

Apr 10- Cape Fear Bank-Wilminton, NC


Mar 27- Omni National Bank-Atlanta, GA

Mar 20- Team Bank N.A.-Paola, KS

Mar 20-  Colorado National Bank-Colorado Springs, CO

Mar 20-  First City Bank-Stockbridge, GA

Mar 06- Freedom Bank of Georgia-Commerce, GA


Feb 27- Security Savings Bank-Henderson, NV

Feb 27- Heritage Community Bank-Glenwood, Ill

Feb 13 – Pinnacle Bank of Oregon-Beaverton, OR

Feb13-   Cornbelt Bank and Trust Co. – Pittsfield, Ill

Feb 13-  Riverside Bank of Gulf Coast – Cape Coral, FLA

Feb 13 – Sherman County Bank- Loup City, NEB

Feb 6 –   County Bank – Merced, CA

Feb 6 –   Alliance Bank-Culver City CA

Feb 6 –   FirstBank Financial Services -McDonough, GA

Jan 30 -Ocala National Bank – Ocala, FLA

Jan 30 – Suburban Federal Savings Bank – Crofton, MD

Jan 30 – Magnet Bank – Salt Lake City, UT

Jan 23 – First Centennial Bank – Redlands, CA

Jan 16 – Bank Of Clark County – Vancouver, WA

Jan 16 – National Bank of Commerce – Berkeley, ILL

2008

Dec 12 –  Sanderson State  Bank – Sanderson, TX

Dec 12 –  Haven Trust Bank – Duluth, GA

Dec 5       First Georgia Community Bank – Jackson, GA

Nov 21 – PFF Bank and Trust – Pomona, CA

Nov 21 – Downey Savings and Loan Association, F.A – Newport Beach, CA

Nov 21 – Community Bank- Loganville, GA

Nov 7 –   Security Pacific Bank, Los Angeles, CA

Nov 7 –   Franklin Bank, SSB – Houston, TX

Oct 31 –   Freedom Bank- Bradenton, FLA

Oct 24 –   Alpha Bank and Trust – Alpharetta, GA

Oct 10 –   Meridian Bank-Eldred, ILL

Oct 10 –   Main Street Bank – Northville, MI

Sept 25 –  Washington Mutual Bank-Henderson, NV and Park City, UT

Sept 19 –  Ameribank-Northfork, WV

Sept 5 –    Silver State Bank-Henderson, NV

Aug 29 –  Integrity Bank-Alpharetta, GA

Aug 22 –  Columbia Bank and Trust-Topeka, KAN

Aug 1 –     First Priority Bank-Bradenton, FLA

Jul  25 –   First Heritage Bank, N.A-Newport Beach, CA

Jul 25 –    First National Bank of Nevada-Reno, NV

Jul 11 –    IndyMac Bank – Pasadena, CA

May 30 – First Integrity Bank, NA-Naples, FLA

May 9  –  ANB  Financial, NA, Bentonville, AZ

Mar 2 –   Hume Bank-Hume, MO

Jan 25 – Douglass National Bank-Kansas City, MO

Only 610,000 people filed for unemployment last week. Things must be better.

unemploymentThe word is, only 610,000 people filed for unemployment last week (a holiday week). That’s a drop from previous weeks. 

Let’s all go out and buy a car.

Of course, let’s face it, the number would almost have to go down at this point, simply because there are fewer people left out there who are actually employed so that they can be layed off.

Then there’s that pesky news about home forclosures that are on a serious rise, since that temporary Presidential AKA “Bandaid” moratorium on foreclosures expired on March 31.  Nothing like putting off the inevitable, eh? The bandaid fell off, look for the scabs brought to you by the same Wall Street industry that took hundreds of billions from your children and grandchildren, and then doubled your credit card rates in mid-stream– and got away with it. Boy those political contibutions to Congress sure must be rolling in, because Congress is making sure they drag their feet on stopping those credit card interest rate increases.  But don’t worry, just as soon as everybody’s credit scores are trashed and just as soon as all the interest rates are at the Loan Shark level, Congress will be outraged.  Why….they will have had NO idea this was happening! If they had only known!

Like I said, Don’t Worry!

Really, be patient. It’s all just simple math. Using Government statistical methods, just as soon as unemployment reaches 100%  and everyone has collected his or her last unemployment check, everything will level off , and the official unemployment rate will be zero.

Everything is under control folks. Fed Bagmen Tim and Ben are on the job.  They are going to arrange to give another hundred billion to launder to your bank as a reward for raising your interest rates– and everything well be just fine. And the Global Warming people are On The Job. They will save the earth. Too bad nobody living in it will live to see it, but hey, small price to pay, right?

Don’t worry! Be happy!

Retail sales unexpectedly fell in March

Alan Greenspan must have called this one from his hot bath.  Retail sales were expected to rise. Just think, if we hadn’t dumped a couple of trillion into banks that are now in turn gouging the public with credit card rate hikes, it might have been worse. At least that’s what somebody will try to tell you. But in the real world, this means our economy has not yet hit bottom. Batten down those hatches.

Washington, April 14  – US retail sales unexpectedly fell by 1.1% in March due to declines in all major retail categories except food and beverage stores and health and personal care stores. But the surprise drop in March retail sales follows a 0.3% increase in February, which the Commerce Department upwardly revised from a 0.1% decline.

March’s 1.1% drop is the biggest decline since December and well below the 0.3% gain economists expected.

Everything went down except food, which we are required to have in order to live. I guess they will just have to arrange to double the price of food if they expect to kill us in a reasonable period of time. I’m sure they are working on it.

And of course, Wall Street responded accordingly today by losing ground.

New World Order Central Bankers’ Bag Man, Ben Bernanke,  says he’s cautiously optimistic about the economy. Translation: We haven’t finished screwing you yet and we are confident that we will finish you off very soon.

Meanwhile, President Obama held a press conference and basically said you should not expect things to get better too soon.  The translation to this is: You will have to wait until he is ready to run for re-election, during which time, everything will miraculously get better.

Americans now compete/grovel for low wage and shitty jobs

One more sign of how much “better” things are getting while our government laughingly imagines that Americans can’t wait to get bank credit to buy another house and a new car:

LEWISTON, Pa. — The growing ranks of unemployed Americans are turning to the traditional fallbacks — retail, restaurants, customer service — to ride out a rough economy. The bad news is job openings there are growing scarce, too.

Widespread “trading down” is sparking a fight for low-wage jobs that employers once struggled to fill. Mark Hall, 24 years old, of Alexandria, Pa., lost his $12-an-hour gig as a videographer when his employer folded and is now looking for anything to make ends meet.

And as our elected officials prattle about how every American should be able to get a four-year degree, whether they have any brains or not:

“Finding a regular job, not even in my field, is very challenging,” said Mr. Hall. “Even working for Lowe’s, I’d settle for that, and I have a four-year degree.”

…….snip……

Despite what objectives they may have put atop their resumes, when asked to describe the work they really wanted, the job seekers largely had the same goal: “I’ll take anything right now.”

In many cases, that desperation means that even educated workers must trade down to jobs below their potential and with lower pay. That results in painful, long-term effects, from hurting their own career advancement to displacing those with less education or experience.

So basically, it won’t be long  before you need that freshly dumbed down four- year degree just to sell hardware at Lowe’s.

All of this while we anticipate yet another major hike in the cost of heat and light with the Bomb Shelter and Y2K scare of the 21st Century known as Global Warming. But not to worry. Homeless people don’t have to worry about utility bills.

But don’t worry, Comrades. Nancy, Harry,  Tim and Barack are going to fix everything. They are going to fix you  good.

nowheretoturnemplyment

On a “Lighter note”, it does look as though The Onion was right. Promises kept. Thanks for reminding me, DE.

Batchelor via RBO: Unemployment Planet

Cross-Posted from RBO.

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Batchelor: Unemployment Planet

John Batchelor writes on his blog:

No End In Sight

California JobsThe April unemployment number fresh on Friday morning will reinforce the trend that is accelerating. We are at an all-time-high of continuing claims of unemployment — going back all the recessions to 1971. The new jobless claims continue to spike, now at mid 600k, and show that there is no strength anywhere. All the bank maneuvers, all the sparring in Congress, all the globe-trotting by POTUS and delicate diplomacy at G20, cannot answer the facts. The loss of jobs is what is ripping down the morale of the country and making all the other challenges more grinding — and the smart guys say that we are a long way from where the unemployment number will end.

The Consumer Is Spooked

1-jobless-chartLast evening I received an email from an online service that sells porcelain dessert plates each year for Christmas season. Each year a different design with a Christmas star somewhere on the top of the illustration. When my daughter was small, I bought one each year for her to have as a collection when she is a grown-up with a home for Christmas. For several years I have forgotten, or was distracted, and I fell behind. From an email, I saw the plates on a severe sale — marked down from $85 and $75 to $39. The whole collection is more than one hundred and twenty years old, and the early plates are several thousand dollars. I checked off three plates and put in the order, with free shipping, for $117. Great deal I told myself.

And then this morning, when I read Calculated Risk, the WSJ headlines on the GM fiasco, and the failure of the G20 to make progress on protectionism, on the American banks, I realized that my return to American consumerism was premature. I wrote the company immediately to cancel the order. The service returned a note an hour later confirming cancellation, with a thanks.

1-jobless-lineThis is why folk are losing their jobs. Because of a spooked, ruminative, even superstitious consumer like me. I am certain they need the business. I am certain that their warehouse is their fortune. I am certain that they reduced those plates to draw me in and do business in a slow season. I responded quickly, demonstrating their correct practice. Yet then — I cancelled my own best idea, my best interest. I rationalized my decision when I saw the headlines on the FASB shenanigans with mark-to-market, as if calling a solid waste site a landfill makes everything safe. (Or as Baseline Scenario argues, “Investors are not idiots.”) My refusal probably means someone’s job, or means hours are reduced for someone. Multiply my anecdote by millions of similar hesitations each hour of the day, and you can see why there is no end in sight.

There Is A New Planet Image

1-planetOn a day of my gloom and irrational fear — scared of Christmas plates — it lightens my heart when I read of the sudden fresh discovery of the image of a new exoplanet at 130 light-years distance around a young star HR 8799. The grand robot Hubble took the photograph 10 years ago of the star. We knew there were three planets there, because of the star wobble, but we could not see them because of the starlight. Using a new image-filtering technique, a Toronto team has identified the outermost exo — seven times Jupiter’s size. There is the thrilling suggestion that it has water vapor in its atmosphere:

    “The planet seems to be only partially cloud covered and we could be detecting the absorption of water vapor in the atmosphere,” says Travis Barman of Lowell Observatory, Flagstaff, Ariz. “The infrared light measured from the Hubble data is consistent with a spectrum showing a broad water absorption feature (at 1.4-1.49 microns), but the level of absorption seen is lower than it would be if the photosphere were completely devoid of dust. Dust clouds can smooth out many of the spectral features that would otherwise be there–including water absorption bands,” Barman says. “Measuring the water absorption properties will tell us a great deal about the temperatures and pressures in the atmospheres, in addition to the cloud coverage. If we can accurately measure the water absorption features for the outermost planet around HR 8799, we will learn a great deal about their atmospheric properties. Hubble, situated well above the Earth’s atmosphere, is excellently located for such a study.”

In a time of great doubt here on modest, rocky and wet Earth, it is a gift to have a new friend that may have water vapor in its atmosphere. It isn’t quite a Christmas star on a porcelain plate, but it is a joy. The formula remains, where there is heat and liquid water, there are the fundamentals for life in the universe as we know it. And jobs.

Blue Dogs resist cap and trade, so Harry is looking for a sneaky way to do it anyhow

The smarm on Capitol Hill and  their disregard for the people of the USA is just never-ending. The People no longer have any say whatsoever. They are prisoners now.

At this very moment, Harry Reid is considering passing the budget with the cap and trade intact using “Reconciliation”.

Reconciliation is basically a sneaky way to get something passed when you don’t have enough votes, even if you are the majority.  Harry is looking to pass this mess using a simple majority instead of a two-thirds vote. In other words, The People be damned and Screw The Whole Lot of You. You can all just eat shit and die as far as Harry is concerned. And you probably will when these people get done with you.

Congress is rumored to be considering passing a cap-and-trade plan through budget reconciliation, which is a process that is only completed if there are special instructions passed in the budget resolution and requires a simple majority, rather than a 2/3rds vote to pass the Senate.

Unfortunately, this action sets a very low bar for a high-cost, big-government bill such as cap-and-trade, but fortunately the Blue Dogs, a group of fifty-one fiscally conservative House Democrats, have warned that the reconciliation strategy is a bad idea.

The budget reconciliation “is utilized when Congress issues directives to legislate policy changes in mandatory spending (entitlements) or revenue programs (tax laws) to achieve the goals in spending and revenue contemplated by the budget resolution.”

harry-reid-fingerThis is no longer “rumored” or a “consideration”.

It’s real.

Harry is manipulating the system in the Senate right now as you read this. It’s happening today.

Cap and Trade will be a financially devastating thing to every American who turns on a light switch. The taxes and fees attached to energy use and, in some cases, even the purchase of something that requires energy to make it, will be outrageous. This will not only affect whether or not you can afford to be warm or live with light. It will affect the cost of food and other necessities.

The Bald-faced Lie of No Taxes for the middle class will ring hollow when people see what this is going to cost them every single day. They aim to get it out of your hide another way. This is a financially crippling thing to do to people who are already struggling just to pay their energy bills. The Global Warming fanatics are going to make it so that people can no longer afford to stay alive if this kind of thought process keeps up and goes unchecked.

It all reminds me of the bomb shelter scare, the Y2K bullshit and Chicken Little all rolled into one. It’s very profitable for certain people though, including and especially Al Gore, who incidentally left a number of his own house lights on during Earth Hour, while expecting the rest of the world to go dark. Trust me, he can afford the cap and trade costs attached to his utility bill.

As you are reading this, the Reconciliation threat is unfolding in the Senate. You should tune into CSPAN and take a look at your senate leader trying to shove it up your nose while his hand is in your wallet.

In the meantime, the Blue Dogs are not pleased and are meeting right now.

One concern surrounds cap and trade, which the Blue Dogs contend pits regions of the country that have plentiful renewable resources against regions that produce traditional energy resources, such as coal. He said Blue Dogs oppose using reconciliation for cap-and-trade to ensure fairness. House and Senate Democratic leaders and the White House this week said it remains an option.

Moderates in both parties have voiced doubts about the cost of the program. Democrats from industrial and coal-producing states hit hard by the recession, such as Michigan and Ohio, fear that a cap-and-trade bill will fail to include provisions to keep new, green jobs at home.

Sen. Debbie Stabenow (D-Mich.) has gathered a group of 16 industrial and Rust Belt state Democrats to try to limit any potential economic damage the proposal could wreak on their states.

The Republicans actually stopped worrying about how everybody else lives long enough to join in as well.

Republicans, meanwhile, have questioned the revenue projections included in the budget for the proposal.

Sens. Arlen Specter (R-Pa.) and Judd Gregg (R-N.H.), who last year supported climate change legislation sponsored by Sen. Joseph I. Lieberman (I-Conn.) and former Sen. John Warner (R-Va.), voiced concerns about Obama’s proposal.

“President Obama promised a middle-class tax cut, but what he didn’t tell us was that he would pay for it with a climate tax,” Sen. Bob Corker (R-Tenn.) said in a statement. “This is a major sleight of hand.”

Keep your eye on Harry, folks. He’s getting very creative about circumventing Democracy. This is going to cost you big time if he pulls the ultimate nose-thumbing trick of Reconciliation on the American people. If you think your heat and electric bills are high now, you haven’t seen anything yet until Harry finishes your off.

Out of control.

Out. Of. Control.

Grocery auctions: A sign of just how things are “improving”

As we listen to people who are doing very well for themselves on taxpayer money say that things are improving and the “Plan,” whatever it is, seems to be working,  America’s economy that is being “fixed”  has now reached a new level of “Improvement”.

DALLAS, Pa. (AP) — Out of toilet paper? Need to pick up a few things for dinner? Take a number and start bidding.

Many bargain hunters these days are trading supermarket aisles for the auction circuit in search of deep discounts on everything from cereal to spare ribs. Past the sell-by date? Bidders are happy to ignore that detail if they’re getting a good deal.

HoboSoupYessir, things are getting better all the time, aren’t they? How many trillions in “help”  are we up to now? Just wondering. A trillion here……a trillion there….

As consumers seek relief from the recession and spiraling food prices, grocery auctions are gaining in popularity as an easy way to cut costs. The sales operate like regular auctions, but with bidders vying for dry goods and frozen foods instead of antiques and collectibles. Some auctioneers even accept food stamps.

….snip…

The popularity of the auctions — which sell leftover or damaged goods from supermarkets, distribution centers and restaurant suppliers — comes at a time when people are stretching their grocery budgets by using more coupons, buying inferior cuts of meat, and choosing store brands over national brands.

The economic downturn, paired with the worst food inflation in nearly 20 years (grocery prices spiked in 2008 before easing in January and February), has caused a “seismic shift” in consumer behavior, said Brian Todd, president of The Food Institute, an industry information service.

“Food is one area where they can save,” he said.

So basically, while Congress, Tim Geithner and Barack Obama are trying to figure out which pal to throw their next trillion at and whether or not  they ordered enough Wagyu beef for the next cocktail party, people are buying damaged and expired food at  scratch and dent auctions.

Now that’s progress.

Ironically, one of the auctioneers’ business is called the “Banana Box”. I think that’s a great business name  that fits in well with our  future Banana Republic.

I can’t wait till the next trillion is spent. Then maybe everybody will be able to bid on a whole chicken. Okay, there might be a limb missing, but that’s why it will be up for bid to begin with.