Road to Depression

Greece downgraded to Selective Default by S&P!

NEW YORK (PNN) - December 5, 2012 - Standard & Poor's on Wednesday cut Greece's sovereign long-term foreign currency credit rating to "selective default" from an already low "CCC" rating.

Road to Depression

Coming derivatives panic will destroy global financial markets!

NEW YORK (PNN) - December 4, 2012 - When financial markets in the Fascist Police States of Amerika crash, so does the FPSA economy. Just remember what happened back in 2008. There are very few things that could cause the financial markets to crash harder or farther than a derivatives panic.

Road to Depression

FPSA manufacturing shrinks to three-year low!

WASHINGTON (PNN) - December 3, 2012 - Fascist Police States of Amerika manufacturing shrank in November to its weakest level since July 2009, as the Second Great Depression continues. Worries about automatic tax increases in the New Year cut demand for factory orders and manufacturing jobs.

Road to Depression

State senator proposes dissolving Detroit!

LANSING, Michigan (PNN) - November 28, 2012 - It would no doubt be controversial, but the idea of dissolving the fiscally struggling city of Detroit and absorbing it into Wayne County is being tossed around in Lansing.

Road to Depression

Fascist government considering eliminating 401(k) tax benefits!

WASHINGTON (PNN) - November 27, 2012 - As the debate around tax reform grows more heated, broker-dealers and other companies that service retirement plans offered by employers are increasingly concerned that the tax benefits of 401(k) plans are on the chopping block.

Road to Depression

European debt crisis a bigger global threat than FPSA fiscal cliff!

PARIS, France (PNN) - November 27, 2012 - Europe’s debt crisis remains a far bigger threat to the world's economy than the Fascist Police States of Amerika “fiscal cliff”, according to the Organization for Economic Cooperation and Development.

Road to Depression

Bankrupt city to halt payments to pension fund and bondholders!

SAN BERNARDINO, Kalifornia (PNN) - November 26, 2012 - Bankrupt San Bernardino, Kalifornia, voted on Monday to present a plan to a bankruptcy judge that seeks to balance its budget through deferring payments to the state's public employee pension fund and to the city's bondholders.