USBANCORP-BANK-OF-AMERICA-THE Federal Reserve System: ITS' 'Waterloo?'

FAUX BUBBLE WEALTH

http://www.theburningplatform.com/tag/wealth/
You can watch CNBC, read the WSJ, listen to a Wall Street bank shyster, or believe a delusional Keynesian economist. Or you can read the factual, reasoned, truthful article below by Chris Whalen and understand that bubble wealth is not real. It can and does vaporize without a moments notice. Savings, production and capital investment create wealth. Money printing creates the illusion of wealth for a while. Can this illusion go on for another few months or even another year? Absolutely. The hubris, greed and stupidity of the Wall Street crowd can not be underrated. But just as we saw in 2000 and 2007, the illusion of wealth will give way to the reality of Ben Bernanke and Janet Yellen wearing no clothes.

Debt Deflation and the Illusion of Wealth

While the Demos report was a lead article in the Guardian in the UK, it was ignored by virtually all of the major US media outlets, including the New York Times and Washington Post, and barely reported in Detroit itself. The Detroit Free Press criticized the report, saying it shifted the blame to “outsiders,” when the real problem was an “unwillingness to face fiscal realities, a devotion to expensive benefits, excessive pension bonuses” and a failure to make “tough decisions.”

http://www.globalresearch.ca/new-report-exposes-lies-used-to-justify-detroit-bankruptcy/5359058 

U.S. Bancorp is an American diversified financial services holding company headquartered in Minneapolis, Minnesota. It is the parent company of U.S. Bank National Association, the fifth largest bank in the United States based on $360.7 billion in assets (as of September 30, 2013 per official FDIC data) and fourth largest in the US in total branches.^[2] U.S. Bank ranks as the fifth largest bank in the U.S. based on deposits,^[3] with $245B in deposits as of March 31, 2013. U.S. Bank's branch network serves 25 Midwestern and Western states with 3,087 banking offices and 5,032 ATMs. U.S. Bancorp offers regional consumer and business banking and wealth management services, national wholesale and trust services and global payments services to over 15.8 million customers. The company employs over 64,000 people.

U.S. Bank is a nationally chartered bank, regulated by the Office of the Comptroller of the Currency, Department of the Treasury.

Subprime mortgage crisis - Wikipedia, the free encyclopedia

en.wikipedia.org/wiki/Subprime_mortgage_crisis‎

The number of new homes sold in 2007 was 26.4% less than in the preceding year. ...... FDIC Graph – U.S. Bank & Thrift Profitability By Quarter. .... more than $1 trillion on toxic assets and from bad loans from January 2007 to September 2009. ...... Charlie Rose – Immelt Interview; ^ Immelt Comments at Detroit Econ Club ...

 

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