“Mandatory reading”

Steveo reviews RGD on Amazon:

Nagging doubts about the economy? You can either trust those same bought & paid for priestly economists that the government trots out every day or you can read Vox Day’s book, “The Return of the Great Depression” and find out what’s in store.

On a tangential note, the FDIC is now reporting what I was saying six months ago. The DIF is insolvent and the reserve ratio is officially negative. Based on their third-quarter figures, actual losses are still exceeding estimated losses, but by a ratio closer to 1.5 than the 1.95 reported in 2008 and the first quarter of 2009. I suspect the reason for this declining ratio is not due to the assets of the banks that failed in the third quarter being in better shape, but because the recognition of actual losses to the FDIC are being delayed through the increasing use of loss-share agreements with the banks taking over the assets of the failed banks.