If you haven’t been paying attention to the news, now is a good time to pull your head out of the proverbial sand. Here’s a summary of what’s going on if you don’t know and a primer on 2007. In the year 2007, financial markets in the US began to meltdown because banks were loaning money to anyone, including home owners, who had a pulse. But the market can only bear so many bad loans, including the credit default swaps, that were a part of the big Wall Street Casino. Essentially, bankers and “investors” were gambling on things that didn’t even exist. And as a result, real people lost their homes, lost money in the stock market and tens of thousands of Americans lost jobs. This event had ripple effects for years and was considered the 2nd great American depression. And we all collectively lost when Bush and the US Congress decided to give these bankers a whole bunch of tax money to bail them out. Go watch “The Big Short” and it will explain it better than I can. We specialize in privacy, not financial issues.
Fast forward to September 2016. The banks and “investors” didn’t learn any lessons from the 2007/2008 financial meltdown. Why would they? The US Taxpayer bailed them out. And now the word on the street is that the banks that were “too big to fail” are even bigger. And you know what they say, the bigger they are the harder they fall. And when they fall this time, it’s going to hurt us all. no one is safe! But to make things worse this time, Europe is involved. Deutsche Bank of Germany is rumored to be having the same problems that US investment firms were having. It’s time to make some tough decisions if you have any money in the market. Read more here: