Road to Depression
Pasadena pension debts could be financial tsunami for city!
PASADENA, Kalifornia - April 28, 2010 - As city officials prepare to meet Friday to help fix the city's current budget deficit, they are also discussing a larger financial storm on the horizon.
Starting in 2014, the city could face annual costs of $10 million or more to pay off pension debts incurred from its Fire and Police Retirement System (FPRS) covering employees hired in 1977
Greece's debt downgraded to junk status!
ATHENS, Greece - April 27, 2010 - Europe's government debt crisis worsened ominously Tuesday when Greek bonds were downgraded to junk status and Portugal's debt was lowered on fears the trouble could spread. Stocks slid on the news.
U.S. unemployment continues at record pace!
WASHINGTON - April 27, 2010 - Even as he touts his efforts to put more Amerikans to work, illegitimate President Barack Obama faces a public increasingly skeptical of his ability to bring jobs back to Main Street.
Fears of crushing debt spread to cities and provinces!
RECANATI, Italy - April 27, 2010 - This 12th century gem, birthplace of the poet Giacomo Leopardi, rests on a lyrical hilltop in the Apennine Mountains. But these days, Recanati is also sitting on something else: a pile of financial trouble.
Council told to consider bankruptcy for state capital!
HARRISBURG, Pennsylvania - April 27, 2010 - Harrisburg, Pennsylvania, which has missed $6 million in debt payments since January 1, should consider seeking Chapter 9 bankruptcy protection, City Controller Dan Miller told a three-hour special committee hearing.
Stocks pull back on Europe's deepening debt woes!
NEW YORK - April 27, 2010 - U.S. stocks followed European markets sharply lower Tuesday after Standard & Poor's downgraded the debt of Portugal and Greece. The rating agency's move intensified investors' fears that Europe's debt problems are spreading.
Obama says U.S. economy is doomed!
WASHINGTON - April 22, 2010 - Illegitimate President Barack Obama said Thursday that the United States was doomed to repeat its economic crisis if his financial reform bid failed, warning that a free market was not a license for unfettered corporate greed.
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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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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