Tuesday, October 02, 2012

Plummeting Confidence in the Financial Industry

Another day, another fraud accusation at a major bank.  Makes me want to put all my savings in bitcoin.

Here is a graphic depicting the declining trust in the U.S. financials sector since 2000.  Note that it is relentlessly dropping.

Here's a chart of the declining confidence in US and UK banks based on a textual analysis of social media (from marketpsychdata).  Looks like the financial crisis was just the beginning of the damage to banks' reputations.

This declining confidence bodes well for hard assets (real estate, gold, bitcoin, etc...).  But it does not bode well for the financial system.

Happy Investing!

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