Road to Depression
Food Stamp recipients at record levels!
WASHINGTON - October 7, 2010 - The number of Amerikans receiving food stamps rose to a record 41.8 million in July as the jobless rate hovered near a 27-year high, the government said.
Why countries are rushing to devalue their currencies!
TORONTO, Ontario, Canada - October 7, 2010 - The global race to the bottom in currencies may be less a war than it is an inevitable reaction to the growth of developing countries and the need for export-driven economies to stay competitive.
That's the view of experts who, while not wholly subscribing to the idea of a currency war, believe weakness in the U.S. dollar, Chinese yuan a
State income levels fall for first time in 70 years!
NEW YORK - October 6, 2010 - The Depression put a 3.1% dent in the personal incomes of New York state residents, who endured their first full-year decline in more than 70 years, according to a report released Tuesday.
Paychecks or net earnings tumbled 5.4%, while dividends, interest and rent slid 8.4%, to a grand total of nearly $908 billion, the state comptroller's report said.
Banks breaking into occupied homes to change locks!
MIAMI, Florida - October 6, 2010 - In their zeal to complete foreclosure proceedings, some banks send representatives to change the locks on properties in foreclosure, even while they remain occupied. The incidents of lock-changing pile further skepticism on a process recently plagued by scandal.
World economy decoupling from United States!
NEW YORK - October 5, 2010 - Wall Street economists are reviving a bet that the global economy will withstand the U.S. slowdown.
Just three years since Amerika began dragging the world into its deepest Depression in seven decades, Goldman Sachs Group Inc., Credit Suisse Holdings USA Inc. and BofA Merrill Lynch Global Research are forecasting that this time will be different. Goldma
Housing shows stability but factory orders fall!
WASHINGTON - October 4, 2010 - Pending sales of previously owned homes rose to a four-month high in August, implying the housing market was regaining some stability after recent steep declines following the end of a home-buyer tax credit.
Another report on Monday showed new orders received by domestic factories fell 0.5% in August as demand for transportation equipment fell sharply
Cities in debt turn to states for help!
NEW YORK - October 4, 2010 - Harrisburg, the capital of Pennsylvania, dodged financial disaster last month by getting money from the state to make a payment to its bondholders.
It did so even though the state warned that the money had to be used for city workers’ pensions.
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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