“There is currently a worldwide run on the banking system. The pictures from the Great Depression show people standing in line to get their cash out of the banks. We are in a different age that allows bank runs to occur in seconds rather than days. Companies and wealthy people in the know are pressing buttons and transferring billions in cash out of dangerous shaky financial institutions. With leverage of 30 or 40 times their cash balances, banks are collapsing around the globe. The average American does not see this happening and is being kept in the dark by the all powerful lords of finance.”                                                

– James Quinn, Our Coming Depression.

Quinn’s analysis at SeekingAlpha.com is a lengthy and as far as I can tell very well researched and cogent analysis of the so-called “market-meltdown” as any I’ve read so far. Given all the hyperbole about the “next Great Depression” its nice to find some actual contrast and comparison between then and now. Enjoy reading this at work today with the understanding that you’ll be taking a good half hour of company time which as it turns out you may not be getting paid for anyway.