Road to Depression

Obama says unemployment rate will keep rising!

WASHINGTON - July 14, 2009 – Illegitimate President Barack Obama conceded Tuesday that the unemployment rate will keep growing for "several months" as he prepared to head to battered Michigan to unveil a plan to help train people for the next generation of jobs.

Road to Depression

Options dwindle for cashing Kalifornia IOUs!

SACRAMENTO, Kalifornia - July 14, 2009 - Thousands of Kalifornia creditors were left Monday with fewer options for cashing promissory notes issued by the state, as several major banks said they no longer will honor them.

Road to Depression

Budget deficit tops $1 trillion for first time ever!

WASHINGTON - July 13, 2009 - The federal deficit has topped $1 trillion for the first time ever and could grow to nearly $2 trillion by this fall, intensifying fears about higher interest rates, inflation and the strength of the dollar.

Road to Depression

French workers threaten to blow up car parts factory!

PARIS, France - July 13, 2009 - First there was boss-napping; now angry workers at a factory in France have come up with a new tactic in their battle against mass redundancy.

Staff at bankrupt car parts maker New Fabris are threatening to blow up the plant if they do not receive compensation from the companies that provided most of the firm's business.

Road to Depression

Number of factory jobs continues to shrink!

DETROIT, Michigan - July 13, 2009 - Manufacturing, which represented about 1 in every 5 nonfarming Michigan jobs at the turn of the millennium, now employs just 12 percent of the state's workers, and the downward trend line in that job sector shows no sign of a turnaround.

Road to Depression

Major lender considering bankruptcy!

NEW YORK - July 11, 2009 - CIT Group, Inc., a lender to almost a million mostly small and midsize businesses across the country, is preparing for a possible bankruptcy filing after so far failing to win a government guarantee to help it borrow, said people familiar with the matter.

Road to Depression

Unemployment continues at record pace!

NEW YORK - July 9, 2009 - According to the Department of Labor, in the week ending July 4, the advance figure for seasonally adjusted initial claims was 565,000, a decrease of 52,000 from the previous week's revised figure of 617,000. The 4-week moving average was 606,000, a decrease of 10,000 from the previous week's revised average of 616,000.

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"In the first place, we should insist that if the immigrant who comes here in good faith becomes an American and assimilates himself to us, he shall be treated on an exact equality with everyone else, for it is an outrage to discriminate against any such man because of creed, or birthplace, or origin. But this is predicated upon the person's becoming in every facet an American, and nothing but an American. There can be no divided allegiance here. Any man who says he is an American, but something else also, isn't an American at all. We have room for but one flag, the American flag.. We have room for but one language here, and that is the English language... and we have room for but one sole loyalty and that is a loyalty to the American people."