While much of this news may not seem positive, it represents a necessary transition that must occur when the entire structure of the world as we have grown to know it is changing right before our eyes.  In a sense, a forest fire is raging in the financial world taking with it deadwood that has been hanging around awhile.  The good news is that it is being replaced with fresh new wood that will one day grow tall and strong.

Last week the FDIC shut-down BankUnited, FSB, the largest independent bank in Florida. This represents the largest bank failure in 2009, and the 34th closing of the year.  Later, Strategic Capital Bank based in Champaign, Illinois, became the 35th failure costing another $173 million.  A recent Reuters report estimated FDIC losses in its fund of between $65 to $70 billion over the next 5 years.  And the hits just keep a comin!

Some fear is growing about the emptiness seen at most retail malls in the country.  Does the term Ghost Town ring a bell? A significant amount of blame is being thrown at consumers opting for big-box stores and internet purchases.  Of course the likes of JC Penney, Sears, Macy's and other household retail names could be facing their own version of doomsday.

Farm land:  The Chicago Fed reported prices for farmland fell by 6% in the latest quarterly report, representing the largest decline since 1985.  If by chance you owned farmland and sold it last year, it would seem that you made out fine.  While those that bought may have some difficulty going forward.

Countries like Germany and Dubai are now concerned about their gold bullion holdings held in U.S. custodial accounts.  Worried about U.S. financial stability, they are demanding their bullion be sent to them.  It would seem that much has deteriorated in the way of trust between countries post the Sub-Prime meltdown, and the loss of faith from Wall Street's selling of toxic assets.

Stay tuned!  History may eventually mark this period as one for the ages