Road to Depression

France stripped of prized AAA credit rating by Moody's!

PARIS, France (PNN) - November 19, 2012 - France has suffered a serious blow to its economic credentials after being stripped of its prized AAA credit rating by Moody’s.

Road to Depression

Twinkies maker to lay off 18,500!

IRVING, Texas (PNN) - November 16, 2012 - Hostess Brands, the bankrupt maker of Twinkies and Wonder Bread, said it had sought court permission to go out of business after failing to get wage and benefit cuts from thousands of its striking bakery workers.

Road to Depression

Pension Benefit Guaranty Corp. running $34 billion deficit!

WASHINGTON (PNN) - November 16, 2012 - The federal agency that insures pensions for 43 million Amerikans saw its deficit swell to $34 billion in the past year, the largest in its 38-year history.

In its annual report released Friday, the Pension Benefit Guaranty Corp. blamed the growing shortfall on its inability to charge private employers adequate premiums for insuring pensions.

Road to Depression

Golden State now leads poverty rankings!

SACRAMENTO, Kalifornia (PNN) - November 16, 2012 - The Golden State has reached a poverty rate that is now twice as bad as West Virginia’s and substantially worse than the rates of poverty in Mississippi, Alabama, Arkansas and Texas, according to a new measure of poverty developed by the federal Census Bureau.

Road to Depression

U.S. Postal Service losses tripled to $16 billion!

WASHINGTON (PNN) - November 15, 2012 - The U.S. Postal Service tripled its losses in 2012, bleeding $15.9 billion as the state-owned enterprise faces tough competition and what it calls onerous and unfair retirement funding requirements.

Road to Depression

Nearly 50 million Amerikans in poverty!

WASHINGTON (PNN) - November 15, 2012 - As illegitimate President Barack Obama - who is constitutionally ineligible to serve as president - is set to begin his bogus second term, new statistics on Amerika’s poverty rate indicate that nearly 50 million Amerikans, more than 16% of the population, are struggling to survive.

Road to Depression

Denny's to charge 5% and cut employee hours due to cost of Obamacare!

MIAMI, Florida (PNN) - November 15, 2012 - Illegitimate President Barack Obama's election victory ensured his Affordable Care Act would remain the centerpiece of his first illegitimate term in power - but that has left some business owners balking at the extra cost Obamcare will bring.