Officials from the European Central Bank warned yesterday that six quarters of recession are eroding the resilience of banks. They added that financial stability conditions in the euro area remain fragile. This means possible bail-ins for EU banks because, to bankers, that is more important than the greater economic health.
U.S. Banks See Record Profit
U.S. banks posted a record 40.3 billion dollar profit in the first three months of the year. Just 4 of the nation’s approximately 7,000 FDIC-insured banks failed in the January-through-March period, down from 16 a year earlier. Bank profits were helped by the need to set aside less money to cover bad loans. Isn’t nice that some are benefiting in this economy nicely?
Monsanto Pollution Alert
Officials at the USDA just announced they found a significant amount of unapproved genetically engineered wheat growing in farm fields in Oregon. These strains of GE wheat escaped from GMO field experiments conducted across 16 states by Monsanto from 1998 to 2005. How convenient that Monsanto will now be able to sue all U.S. farms, if any of this GMO wheat is found, for piracy. Needless to say, this was most likely not an accident, but by deliberate intent. The only ethical re-course, at this point, is to destroy all possible infected fields for at least 2 years and pay for all damages to those farmers that lost their crop at Monsanto’s expense.
How to Junk the IRS
Corruption of the IRS cannot be legitimately be denied now that the Fifth Amendment has been invoked. Now, the flat tax, that would do away with all deductions and loopholes is gaining steam; however, what to do with the significant percentage of the employees at the IRS is a good question. Perhaps, they would volunteer to go to Mars?
7 Last Minute Prepping Items
Bleach, Fresh fruit and vegetables, over the counter and prescription drugs, cooking oil and peanut butter, wine and spirits, aluminum foil, and chocolate. Personally, I would also add in duct tape and vinegar as well.
911 Goes Dark
For those living in New York City, if you are in mortal danger where guns may be required, you can always call 911… Except when its down. Yes, the new 73 million dollar 911 system, in New York City, went down and pandemonium ensued as the backup system, in the form of pencils and paper, took over. Hopefully, all of those emergency operators were fans of Lindsey Williams!
Finally, please prepare now for the escalating economic and social unrest. Good Day!
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