Road to Depression
Market forecast advises taking cover!
NEW YORK - July 2, 2010 - With the stock market lurching again, plenty of investors are nervous, and some are downright bearish. Then there’s Robert Prechter, the market forecaster and social theorist, who is in another league entirely.
Prechter is convinced that we have entered a market decline of staggering proportions - perhaps the biggest of the last 300 years.
Illinois stops paying its bills yet keeps on spending!
CHICAGO, Illinois - July 2, 2010 - Even by the standards of this deficit-ridden state, Illinois’s comptroller, Daniel W. Hynes, faces an ugly balance sheet. Precisely how ugly becomes clear when he beckons you into his office to examine his daily briefing memo.
He picks the papers off his desk and points to a figure in red: $5.01 billion.
Depression cuts into employment for half of working adults!
WASHINGTON - June 30, 2010 - The Depression has directly hit more than half of the nation's working adults, pushing them into unemployment, pay cuts, reduced hours at work or part-time jobs, according to a new Pew Research Center survey.
The economic shock has jolted many Amerikans into a new, more austere reality, which is likely to have lasting consequences for an economy fueled
Foreclosed homes sell at massive discounts as supply grows!
NEW YORK - June 30, 2010 - Homes in the foreclosure process sold at an average 27% discount in the first quarter as almost a third of all U.S. transactions involved properties in some stage of mortgage distress, according to RealtyTrac, Inc.
A total of 232,959 homes sold in the period had received a default or auction notice or were seized by banks, RealtyTrac said in a report toda
Most states are facing brutal austerity cuts!
WASHINGTON - June 28, 2010 - Even the sober Center on Budget and Policy Priorities says 46 states are facing a Greek-like crisis. These state governments must inaugurate an austerity regime to cut spending by $112 billion for FY2011, which begins on Thursday.
AMBROSE EVANS-PRITCHARD: RBS tells clients to prepare for 'monster' money-printing by the Federal Reserve!
By Ambrose Evans-Pritchard
LONDON, England - June 27, 2010 - As recovery starts to stall in the U.S. and Europe with echoes of mid-1931, bond experts are once again dusting off a speech by Ben Bernanke given eight years ago as a freshman governor at the Federal Reserve.
Huge tent city takes root!
Homeless camps cover 50 acres.
WAIPAHU, Hawaii - June 27, 2010 - Pastor Joe Hunkin picked his way around rusted car axles, propane tanks and two-by-fours studded with bent nails to find a homeless encampment where people have been cooking and sleeping directly behind Waipahu High School, in an area that received unwanted national attention this month.
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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