Gold is up to $1080, soon to break $1100 later this week. CIT Insurance lending institution responsible for the majority of small and medium sized business loans in America has officially declared bankruptcy. US taxpayers lose $2.3 billion thanks to Toxic Timmy Geithner. This along with the alt- A and ARM mortgage adjustments coming due in increasing numbers sounds the final death knell for middle America. CapMark, the major commercial real estate lender, declared bankruptcy last week. 60% of commercial real estate construction loans are in default. Massive tsunami wave of commercial mortgage defaults on the horizon with all of the above crashing down upon the flimsy window dressing of "economic recovery" and "green shoots" will with unmistakeable finality and undeniable certainty expose the unmitigated catatrophe of unsalvageable US economy. Meanwhile all the dirty rats responsible are heading for the back doors with the loot securely deposited in off shore bank accounts and palatial mansions in St. Tropez and Gstaad awaiting them. By the way, have you got your flu shot?
Just a little reminder of who you are really working for:
Total Golem Sachs Employee Compensation $10,934,000,000
Average Pay $363,654
Bailout Money $10,000,000,000
Bailout funnelled to Golem Sachs through AIG $12,900,000,000
Total Taxpayer Welfare to Golem Sachs $22,900,000,000
Taxpayer loss per Golem Sachs employee $761,632
Despite massive losses, compensation for CEO Lloyd Blankfein
$60,000,000 in taxpayer funds authorized by Yobama and Congress.