Road to Depression

Detroit defaults on some debt to avoid bankruptcy filing!

DETROIT, Michigan (PNN) - June 14, 2013 - Detroit said on Friday it would stop making payments on some of its about $18.5 billion debt, which would put it in default, and the insolvent city called on most of its creditors to accept pennies on the dollar to help it avoid the largest municipal bankruptcy filing in Fascist Police States of Amerika history.

Road to Depression

Japan stocks continue to get slammed!

TOKYO, Japan (PNN) - June 2, 2013 - The sad, painful trading in Japan continues, as the new week begins.

Road to Depression

Japan markets crash!

TOKYO, Japan (PNN) - May 24, 2013 - On Thursday, Japan’s financial markets crashed 7%.

On Friday, the market gained, but it was very strange.

Road to Depression

Goldman Sachs says the bond sell-off is real!

NEW YORK (PNN) - May 23, 2013 - U.S. Treasury yields bottomed out in July 2012 after three decades of a steady grind lower.

Since then, they have had their ups and downs, but eventually, the yield on the 10-year U.S. Treasury hit a high of 2.06% on March 11, right before the financial crisis in Cyprus blew up and the consensus began to shift its focus to fears over an emerging slowdo

Road to Depression

Bernanke tells Fed to maintain stimulus efforts!

WASHINGTON (PNN) - May 22, 2013 - Federal Reserve Chairman Ben Bernanke is telling Congress Wednesday that the Fascist Police States of Amerika job market remains weak and that it is too soon for the Federal Reserve to end its extraordinary stimulus programs.

Road to Depression

Job openings in the FPSA drop from almost five-year high!

WASHINGTON (PNN) - May 8, 2013 - Job openings in the Fascist Police States of Amerika eased in March from the highest level in almost five years, indicating employers are waiting to see how the economy performs, as federal budget cuts take effect.

The number of positions waiting to be filled declined by 55,000, to 3.84 million from a revised 3.9 million the prior month that were the

Road to Depression

Residents of bankrupt Kalifornia city launch council recall!

LOS ANGELES, Kalifornia (PNN) - May 2, 2013 - Up in arms against the leadership it blames for San Bernardino's bankruptcy, a group of business people and residents on Thursday launched a campaign to recall the Kalifornia city's council, mayor and city attorney.

The group, looking for a "clean sweep" inside crisis-hit San Bernardino, presented its initiative on the steps of City Hall