Road to Depression

JPMorgan to cut up to 17,000 jobs by end of 2014!

NEW YORK (PNN) - February 27, 2013 - JPMorgan Chase & Co said on Tuesday that it plans to cut 17,000 jobs by the end of 2014, representing about 6.6% of the company's overall workforce, as the bank sheds staff that helped it deal with bad home loans.

The bank is optimistic that it can generate record income this year and is planning to add 4,000 employees in commercial and investment ba

Road to Depression

Italian stocks plunge nearly five percent!

Borrowing costs surge after upset on election night.

ROME, Italy (PNN) - February 26, 2013 - It is a very rough start for Italian markets, following last night's shock elections, which are likely to result in a hung government.

Road to Depression

Tens of thousands in Spain protest economic policy and corruption!

MADRID, Spain (PNN) - February 23, 2013 - Tens of thousands of Spaniards marched through cities across the country on Saturday to protest deep austerity, the privatization of public services, and political corruption.

Gathering under the banner of the "Citizen Tide", students, doctors, unionists, young families and pensioners staged rowdy but non-violent demonstrations as a near five-ye

Road to Depression

Britain credit rating downgraded!

NEW YORK (PNN) - February 22, 2013 - Moody’s announced on Friday night that it had cut the British government’s bond rating one notch from ‘Aaa’ - the highest possible level - to ‘Aa1’.

The move is a significant setback for Chancellor George Osborne, who has faced criticism that his strategy for dealing with the Fascist United Kingdom’s huge debt burden is failing to deliv

Road to Depression

Weekly jobless claims rise more than expected!

NEW YORK (PNN) - February 21, 2013 - The number of Amerikans filing new claims for unemployment benefits rose more than expected last week, indicating a continuation of the ongoing Second Great Depression.

Road to Depression

Bulgarian government resigns amid growing protests!

SOFIA, Bulgaria (PNN) - February 20, 2013 - Bulgaria's government resigned on Wednesday after mass protests against high power prices and falling living standards, joining a long list of European regimes felled by austerity during four years of debt crisis.

Road to Depression

Higher gas prices bode harder times ahead!

NEW YORK (PNN) - February 18, 2013 - Gas prices have risen for 32 days straight, according to the Automobile Association of Amerika.

That means that the average price for a gallon of regular unleaded gasoline has increased more than 13% over that period, to $3.73.