@AllAmerInvest Household Wealth Takes Big Hit, Shadow Banking, EU, Won't Work, S&P Chart

Household wealth takes biggest hit since '08

The Federal Reserve said the net worth of households fell by $2.2 trillion, or 4.1%, to end at $57.4 trillion. The decline comes to about $7,800 for every U.S. resident.
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All American Investor

Shadow banking and the seven collateral miners
Collateral mining: one of the most overlooked and least understood bank funding sources in the financial system.

The concept stems from the latest IMF working paper, entitled ‘The non-bank-bank nexus and the shadow banking system‘, by Zoltan Pozsar and Manmohan Singh, in which they describe how asset managers have come to replace traditional creditors — primarily households — as the key financiers to the banking system.

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Here's Everything That's Happened So Far In The EU Summit

Why All This Extra Liquidity In Europe Won't Solve Anything
If the process of treaty changes is extended, renewed panic in the markets will probably ensue. Moreover, to the extent that all of this works, the fiscal austerity imposed on the weaker nations will throw their economies into deep and prolonged recessions with ever soaring budget deficits.

Original content Bob DeMarco, All American Investor