The Federal Deposit Insurance Corp (FDIC) has close two more banks in Georgia and Florida bringing the number of bank failures this year to 47.
"In 2010, 157 banks with total assets of USD 92 billion caved in compared to 140 bank failures in 2009 with total assets of USD 169.7
Banks are still failing, but at least not at the previous recorded rate. Last year 157 banks closed, the year before that 140.
Now this could mean two things, either I have no idea what I'm talking about (which I don't), or US economy is recovering, but very slowly and it
"US stock futures point to gains after 6 down weeks
Stocks are set to open higher on Friday, on track for their first weekly gains after a six-week losing streak, the longest since 2002.
The US stock has been a losing streak for six weeks, first time it had a gain, why? Is Saudi Arabia working harder to save dollar and safeguard the US
economy, as its own survival depends on it? That's one way I see it.
Not long ago OPEC voted against the increasing of oil production, with Iran and Venezuela alliances blocking it. The increase in production was called
for by Saudi Arabia. Non the less, even though the vote failed, Saudi Arabia increased production anyways. The increase in production was meant to
help the US economy recovery, which explains why Iran, Venezuela and other nations were against it.
....$100 and $120 a barrel is “reasonable.”
That level is at or above present prices and is considered too high by major oil-consuming countries struggling with their economies. And it goes
against efforts by OPEC kingpin Saudi Arabia to push prices downward.
The kingdom pledged last week it would increase production regardless of official OPEC policy after its proposal to lift OPEC output was blocked by
seven producers including Iran, Venezuela and Algeria.
As you can see, Saudi Arabia has taken the matter in to its own hands as OPEC went against the idea of increase production = decrease price.
Also the unemployment rate has decreased in most of the American states, but it has increased in others.
The Labor Department says the unemployment rate fell in 24 states. It rose in 13 states and Washington, D.C, and was flat in 13. That's a significant
decline from April, when 39 states reported falling unemployment rates and reflects the national trend in hiring.
This is interesting, Saudi is trying to save US, in response US is saving Saudi hence US drone attacks in support of Saleh in Yemen, and US double
face regarding Bahrain, and its deafening silence towards the Saudi imported Mercenaries.
But that is one way of looking at it. In another way, US controls Saudi, and through Saudi, controls other states in the region. This is very
interesting times, the economic warfare seems to be playing right in front of us.