What do you do when you when don’t make enough money to cover your monthly expenses. You use your credit card. You also us it for that nice 46 inch TV, but we’re not judging. Well as most people are aware, American has had a 20+ year love affair with there credit cards.

Every bank [...]

We think this speaks for itself.  Everyone knows the government, corporations, everyone manipulates numbers to make them seem better.  It’s scary when you look at the truth behind some of these numbers.  A very interesting image by mint, originally seen on Unemployment Rate: A Visual Guide to the Financial Crisis.

Other then to say what a scary world; Whybanksfail is having a hard time dealing with the numbers of people who are unemployed, because a few people who got so greedy they did not know when to say enough is enough. Today those same people are trying to figure out how to make money from [...]

In an earlier article today entitled: $10 Million for a job poorly done, we discussed how two ousted Dell Senior manager where giving huge payouts to leave, well now we have to add them to the unemployment numbers for 2009. I am sure their going to want to receive their 9 months unemployment as well. [...]

In move that aligns it self closer to other modern economies including Japan, US, and Europe, the Bank of England has cut its benchmark rate by half a percentage point. The move is seen as an effort to help the struggling economy and provide further government assistance.
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Breakdown: New Rate
·          Britain’s central bank reduced the rate [...]

Unemployment numbers last week did not look good, 6.7%.
The worst part, is that it doesn’t address the full scale of employment issues in our economy. Â
When times are good, if you lose your job, you can sit back and wait a little bit.  After all your portfolio has some money in it, you know a [...]

The AP announced recently, Dow Chemical to cut 5,000 jobs, close 20 plants. Â
That equates to 11% of the company’s total workforce. Â
We should change the name of the site to Why Jobs Get Cut … there have been so many job cuts recently.  That is, however, how banks fail. Â
The article says the move [...]

The most jobs lost in 34 years.
This doesn’t even take into account the recent layoffs in December.
According to November: Most jobs lost in 34 years, we’re in for one hell of a new year.
While unemployed jumped to 6.7%, that is just shy of estimates of 6.8%.  If you can take that as a good thing.
Not [...]

What can you do?  If your central government runs the nations politics and economics into the ground?Â
No, not the US (yet), Iceland.  Icelanders protested and stormed the central bank over economic tensions. Â
“Iceland has seen its banks and currency collapse in just a few weeks while prices and unemployment soar — leaving a country regarded [...]

Workers have filed a 16 year high of new jobless claims in the week ending Nov 16th. This comes as employers are faced with harsh economic reality and are forced to reduce the size of the labor force. Â
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“The latest data has added to fears that the U.S. economy faces a deep recession and paints [...]

Bloomberg.com reports Citigroup’s Pandit to Reduce Headcount by 50,000, Cut Expenses.
After many other job cut announcements, Fidelity cuts 1300 jobs (and many more job cuts), here comes a big one.  Citigroup announces that it will reduce expenses by 20 percent, and cut 14% of its workforce. Â
Citigroup (NYSE:C 9.52 on 11/17/2008) is helping the rest of [...]

As the United State is heading into recession sales data shows a decline of 2.8% in October from September with a 4.1% decline form October 2007. Consumers are faced with plunging stocks, rising unemployment and general concern about the state of the economy.
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The decline in October is the fourth consecutive monthly drop this year [...]

A great post at The Market Ticker, What Jobs? analyzes the U6 — a broader term of unemployment.
The U6 chart analyzed in September by Felix Salmon, at Market Movers, it was scary back then.  Now, it is worse.
According to the article, the U6 analyzes unemployment with a more realistic view of the impact the economy [...]

Let the carnage begin.
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As the crisis continues, institution like Bank of New York-Mellon Corporation who announced this week a decline in third-quarter earnings, are looking for ways to cut expenses. Â
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As they evaluate the current business environment and decide where their business is going, many will look at all alternatives including head count at [...]

We at WhyBanksFail are asking for your support in our decision to run for president of the United States of America.
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The following items will be on our agenda for the next 8 years.
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Spend all our money on wars, defense, and bailing out Wall Street. Allow Oil and Health Insurance companies to achieve record profits, [...]