Road to Depression
Dollar slides to new 15-year low vs yen!
TOKYO, Japan - August 24, 2010 - The U.S. dollar dropped to a fresh 15-year low against the yen on Tuesday, adding further pain to Japan's export-oriented economy.
The dollar slid as low as 84.17 yen Tuesday afternoon on Tokyo, the lowest since 1995, before recovering slightly to 84.47 yen.
Home sales plunge to lowest level in 15 years!
WASHINGTON - August 24, 2010 - Sales of previously occupied homes plunged last month to the lowest level in 15 years, despite the lowest mortgage rates in decades and bargain prices in many areas.
July's sales fell by more than 27% to a seasonally adjusted annual rate of 3.83 million, the National Association of Realtors said Tuesday. It was the largest monthly drop on record datin
Record numbers raid their 401k accounts!
NEW YORK - August 23, 2010 - In the wake of news about a spike in new applications for unemployment benefits comes another potentially troubling sign: a record number of workers made hardship withdrawals from their retirement accounts in the second quarter.
What's more, the number of workers borrowing from their accounts reached a 10-year high, according to a report issued Friday b
Housing slide threatens to drag economy further into Depression!
NEW YORK - August 23, 2010 - Housing led the U.S. out of seven of the last eight recessions. This time, it may kill any chance of a recovery.
Home sales collapsed after a federal tax credit for buyers expired in April. Since then, the manufacturing-led expansion, which began in the second half of 2009, has been waning, with jobless claims rising and factory orders falling.
Jobless claims rise to highest level in 9 months!
WASHINGTON (PNN) - August 19, 2010 - Employers appear to be laying off workers again as the Second Great Depression continues. The number of people applying for unemployment benefits reached the half-million mark last week for the first time since November.
Credit default swap deals unnerve Kalifornia!
LOS ANGELES, Kalifornia - August 19, 2010 - Is Wall Street profiting from Kalifornia's misery?
That's been a concern of state Treasurer Bill Lockyer, who takes a dim view of financial instruments - known as credit default swaps - that enable speculators to bet against Kalifornia's ability to pay its debts.
Congressional Budget Office foresees difficult economic times ahead!
WASHINGTON - August 19, 2010 - The U.S. economy faces even more difficult times ahead with chronic high unemployment rates and slow manufacturing growth, Congressional Budget Office Director Douglas Elmendorf said on Thursday.
The U.S. unemployment rate will not fall to around 5% until 2014, Elmendorf wrote in his blog about CBO's new economic and budget outlook.
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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Adolph Hitler 1
"Let them then own land or factories as much as they please. The decisive factor is that the State, through the party, is supreme over them, regardless of whether they are owners or workers. All that, you see, is unessential. Our Socialism goes far deeper...The people about us are unaware of what is really happening to them. They gaze fascinated at one or two familiar superficialities, such as possessions and income and rank and other outworn conceptions. As long as these are kept intact, they are quite satisfied. But in the meantime they have entered a new relation; a powerful social force has caught them up. They themselves are changed. What are ownership and income to that? Why...socialize banks and factories? We socialize human beings."
—Adolph Hitler
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