Among the Obamanator’s "glimmers of hope" we can now see another great signs of the economy recovering.
U.S. regulators on Friday closed New Frontier Bank of Greeley, Colorado, and set up a temporary bank so depositors can open accounts at other insured institutions. The Deposit Insurance National Bank will remain open for about 30 days so customers can move their funds to other banks. It is the 23rd U.S. bank to fail this year, and its resolution is expected to cost the deposit insurance fund about $670 million.
Yeah, this is a great sign of a recovering economy.
Other great signs of revovery we get from the Treasury Department that have announced that the budget deficit increased by $192.3 billion in March, and is near $1 trillion just halfway through the budget year.
And the total number of laid-off Americans receiving unemployment rose to 5.84 million, from 5.75 million from the last week to this week. That was the most on records dating from 1967 and higher than analysts expected. Great signs really.
But at least the Obamanator and several newspapers in America can take comfort in chocolate sales increasing recently. Yes, that’s right, a couple of US papers is writing about how consumers have cut back on jewelry and designer handbag splurges, but how chocolate is one indulgence that still has a place in the budget. And several candy companies are doing great at the moment. In other words; people buying comforting sugar products in an economic crisis and this before and during Easter is fantastic news… Amazing how brain functions seemingly is decreasing with every day in this world…
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