I just want to share something from my Sunday school Class

I'm also VERY well-educated and I don't think that's necessarily going to happen. The real news is that the FDIC is almost out of money and it will take additional billions of our tax dollars to make it solvent.

 

You are correct.

 

It could very well be the last election some of us vote in because we will be gone and the world left to it's own economic crisis and New World Order under the AC. You will meet scoffers here on the BB, givengrace, but many of us here do believe Jesus is coming soon.

 

Bye bye. :wavey:

 

Several pbs "experts" have predicted more bank failures here are quite possible though the feds buying into them may keep it from happening.

It was said today that many businesses will fail over the next months due to the fact that our economy was over grown on credit and with people pulling in their horns there won't be any need for all of these business that were supported on the credit that is no longer there.

Seems logical to me but time will tell. Since many Credit card companies have tripled their interest in recent days many will not be using cards anymore - if they are smart anyway.

 

I too am in banking. No way is this on the horizon yet. Europe can't even get everyone there on board with a common currency, let alone solidify a world-wide currency. Banking laws would have to be unified, and we can barely get our arms around these here. The capitalization crisis is worldwide and not all govts are able to adequately meet this challenge, and there is far too much monetary disparity in value and policy to get us from point A to point B.

While it is true that the FDIC has had to tap a lot of its resources, a lot of these get replinished fairly quickly and easily by their unilateral ability to reach into banks' pockets and get more reserve insurance to replinish the FDIC insurance fund.

We need to remember that last year only two banks went under out of the thousands in this country. This year, it's still a relatively small number of very small deposit institutions that had enormous exposure to the subprime mess (the tales I could tell you about IndyMac could curl your toes, even though Chuck Schumer still had his fingerprints on that one).

The FDIC is no one's client. They're an agency that insures deposits by banks with money garnered from banks. FDIC actions are typically private and somewhat secret, much like Fed Reserve deliberations, despite Bernanke's attempts at transparency.

Obviously, that's my economic take. That does not diminish one whit my view that Christ could return at any moment. My eschatology is not based on economics, Israel, politics, etc. It's based on the Bible, God's inerrant, infallible, inspired Word. I'm in the minority