Road to Depression
Portugal relents and seeks bailout!
ROME, Italy - April 7, 2011 - Portugal became the third European country in less than a year to seek a bailout when it finally admitted it was effectively broke, a development that could infect neighboring Spain and even cause political damage to German Chancellor Angela Merkel, whose country funds the single biggest proportion of the rescue packages.
Toyota preparing for North American shutdown!
TOKYO, Japan (PNN) - April.4, 2011 - Toyota Motor Corp. is warning it will probably shut down its North American assembly plants later this month amid a shortage of parts from Japan, as the economic aftershocks of the crisis gripping that country threaten to add to the current North American Depression.
Construction activity drops to lowest level in over ten years!
WASHINGTON - April 3, 2011 - Builders started work on fewer homes, apartments and government projects in February, pushing construction activity down to the lowest level in more than a decade.
Many restaurants expected to raise prices!
SAN FRANCISCO, Kalifornia - April 3, 2011 - The cost of beef has gone through the roof, coffee prices are at a 13-year high, and even produce grown right here in Kalifornia is more expensive than usual.
Grocery prices rose by more than 1½ times the overall rate of inflation in 2010, according to government statistics, and economists predict that it will be even worse this year
Wal-Mart CEO expects inflation!
NEW YORK - March 31, 2011 - U.S. consumers face serious inflation in the months ahead for clothing, food and other products, the head of Wal-Mart's U.S. operations warned Wednesday.
The world's largest retailer is working with suppliers to minimize the effect of cost increases and believes its low-cost business model will position it better than its competitors.
EU crisis deepens on Portugal deficit and Irish banks!
LISBON/DUBLIN - March 31, 2011 - Portugal revealed that its budget deficit had ballooned above target and Ireland said its banks needed 24-billion euros in extra capital, shaking euro zone markets and deepening the bloc’s sovereign debt crisis.
European leaders had hoped a package of new anti-crisis measures agreed at a Brussels summit last week would help draw a line under the woe
U.S. home prices drop for seventh month in a row!
WASHINGTON - March 29, 2011 - U.S. single family home prices fell for the seventh straight month in January, fresh evidence that the housing market remains in Depression, according to a survey released today.
MORE ARTICLES
- Fascist Police States of Amerika regional bank stocks crash!
- FPSA pending home sales unexpectedly tumble in September!
- Which cities have the highest risk of a housing bubble?
- Gas prices fall below 90 cents a gallon at one Wisconsin gas station!
- Sixty percent of Amerikans won’t be able to cover basic necessities in a month or less!
- Southern Kalifornia home sales crash!
- The state of Amerika's debt slaves!
- New home sales decline 9.3%!
- FPSA retail store closings hit a new record high as west coast homelessness soars!
- Commentary: 1 in 4 Amerikans are completely broke and in no position to help themselves!
- Illinois official says state is in massive crisis mode!
- S&P and Moodys cut Illinois to near junk status!
- Five highly respected financial experts warn that a market crash is imminent!
- Greek debt deal collapses after 8 hours of negotiation!
- Crashing Canadian mortgage lender bailed-out by retired healthcare workers!
- Canada housing bubble explodes as its biggest mortgage lender crashes!
- FPSA home prices rise at the fastest pace since July 2014!
- Home sales crash to lowest level since 2008 as pricing reset gets underway!
- The number of new businesses in the FPSA is collapsing!
- Retail sales growth tumbles to 6-month lows!
- Tent cities full of homeless people are booming all over Amerika as poverty spikes!
- 1 in 6 working age males has no job under Obama!
- In 50 years this has never failed to trigger a bear market!
- Amerika’s hidden jobless rate is a product of a conspiracy!
- Today's layoff news!
- Spain's debt now worth more than value of the economy!
- FPSA homeownership falls to nearly its lowest level in history!
- The FPSA government has a $20.4 trillion retirement problem!
- One quarter of Amerikans in their prime working years are unemployed!
- FPSA existing home sales tumble in warning sign for housing market!
- New home sales unexpectedly plunge!
- Swiss politicians slam attempts to eliminate cash!
- FPSA CEOs unleash Depression fears in earnings calls!
- FPSA services economy slumps to weakest in 13 months!
- Wal-Mart is closing hundreds of stores and laying off thousands of employees!
- The worst ever stock market start is just the beginning!
- Brazil slides into the brink with industrial production down 12%!
- Baltic Dry Index careens to fresh record low!
- FPSA banks have 247 trillion dollars of exposure to derivatives!
- Spending was at an all time low for Black Friday this year!
- Puerto Rico debt bomb about to explode!
- Baltic Dry Shipping Index drops to all-time low!
- Latest payroll jobs numbers are false and misleading!
- Markets are back at panic levels!
- Ailing global economy starts to weigh on FPSA job market!
- The truth about unemployment in Amerika!
- Record 94,031,000 Amerikans not in labor force!
- Canada officially enters recession!
- Dow plunges 531 points!
- S&P 500 drops below trading range as global selloff intensifies!
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FAMOUS QUOTES
Thomas Macaulay
"The day will come [in the United States] when a multitude of people will choose the legislature. Is it possible to doubt what sort of a legislature will be chosen? On the one side is a statesman preaching patience, respect for rights, strict observance of public faith. On the other is a demagogue ranting about the tyranny of capitalism and usurers and asking why anybody should be permitted to drink champagne and to ride in a carriage while thousands of honest people are want of necessities. Which of the candidates is likely to be preferred by a workman?... When society has entered on this downward progress, either civilization or liberty must perish."
—Thomas Macaulay in his 1857 prediction
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