Road to Depression
Stocks sustain heavy losses as Italian banks are downgraded!
NEW YORK - February 10, 2012 - Stocks added to losses Friday, on track to logging their worst session this year, after stalled debt negotiations in Greece, some disappointing economic news, and reports that S&P downgraded a handful of Italian banks.
Foreclosures to climb before bank deal helps housing market heal!
NEW YORK (PNN) - February 9, 2012 - The $25 billion settlement with banks over foreclosure abuses may result in a wave of home seizures, inflicting short-term pain on borrowers while making a long-term housing recovery more likely.
Shipping companies now paying customers to use their boats!
Shipping costs have plunged to Depression lows.
NEW YORK - February 7, 2012 - We've been following recent plunges in the Baltic Dry Index - a measure of commodity shipping costs - because it's near its lowest value since August 1986.
Today Bloomberg reports that vessel operators have actually begun to transport goods for free and even cover some of clients
AMBROSE EVANS-PRITCHARD: Shanghai shipping slump as IMF warns China on euro slump!
By Ambrose Evans-Pritchard
LONDON, England - February 6, 2012 - Shanghai shipping volumes contracted sharply in January as Europe's debt crisis curbed demand for Asian goods, stoking fresh doubts about the strength of the Chinese economy.
Gas prices to spike 60 cents or more by May!
NEW YORK - February 6, 2012 - Get ready for another round of pain at the pump: $4 (or higher) gasoline.
After rising 19 cents a gallon in the past four weeks, regular unleaded gasoline now averages $3.48 a gallon vs. $3.12 a year ago and $2.67 in February 2010.
Prices could spike another 60 cents or more by May.
Greece falters in debt talks with creditors!
LONDON, England - February 5, 2012 - The Greek prime minister has failed to secure a bondholder agreement despite appealing for help from the bosses of the International Monetary Fund (IMF) and the European Central Bank (ECB) to help break the dangerous deadlock.
Greece moves closer to default!
ATHENS, Greece - February 5, 2012 - Lucas Papademos, the Greek premier, failed to make party leaders accept harsh terms in return for a second 130 billion euro bailout, pushing Athens closer to a disorderly default as early as next month.
Greek television reported that Papademos has set a deadline of midday on Monday for the three leaders to let him know whether they agree in princip
MORE ARTICLES
- Fascist Police States of Amerika regional bank stocks crash!
- FPSA pending home sales unexpectedly tumble in September!
- Which cities have the highest risk of a housing bubble?
- Gas prices fall below 90 cents a gallon at one Wisconsin gas station!
- Sixty percent of Amerikans won’t be able to cover basic necessities in a month or less!
- Southern Kalifornia home sales crash!
- The state of Amerika's debt slaves!
- New home sales decline 9.3%!
- FPSA retail store closings hit a new record high as west coast homelessness soars!
- Commentary: 1 in 4 Amerikans are completely broke and in no position to help themselves!
- Illinois official says state is in massive crisis mode!
- S&P and Moodys cut Illinois to near junk status!
- Five highly respected financial experts warn that a market crash is imminent!
- Greek debt deal collapses after 8 hours of negotiation!
- Crashing Canadian mortgage lender bailed-out by retired healthcare workers!
- Canada housing bubble explodes as its biggest mortgage lender crashes!
- FPSA home prices rise at the fastest pace since July 2014!
- Home sales crash to lowest level since 2008 as pricing reset gets underway!
- The number of new businesses in the FPSA is collapsing!
- Retail sales growth tumbles to 6-month lows!
- Tent cities full of homeless people are booming all over Amerika as poverty spikes!
- 1 in 6 working age males has no job under Obama!
- In 50 years this has never failed to trigger a bear market!
- Amerika’s hidden jobless rate is a product of a conspiracy!
- Today's layoff news!
- Spain's debt now worth more than value of the economy!
- FPSA homeownership falls to nearly its lowest level in history!
- The FPSA government has a $20.4 trillion retirement problem!
- One quarter of Amerikans in their prime working years are unemployed!
- FPSA existing home sales tumble in warning sign for housing market!
- New home sales unexpectedly plunge!
- Swiss politicians slam attempts to eliminate cash!
- FPSA CEOs unleash Depression fears in earnings calls!
- FPSA services economy slumps to weakest in 13 months!
- Wal-Mart is closing hundreds of stores and laying off thousands of employees!
- The worst ever stock market start is just the beginning!
- Brazil slides into the brink with industrial production down 12%!
- Baltic Dry Index careens to fresh record low!
- FPSA banks have 247 trillion dollars of exposure to derivatives!
- Spending was at an all time low for Black Friday this year!
- Puerto Rico debt bomb about to explode!
- Baltic Dry Shipping Index drops to all-time low!
- Latest payroll jobs numbers are false and misleading!
- Markets are back at panic levels!
- Ailing global economy starts to weigh on FPSA job market!
- The truth about unemployment in Amerika!
- Record 94,031,000 Amerikans not in labor force!
- Canada officially enters recession!
- Dow plunges 531 points!
- S&P 500 drops below trading range as global selloff intensifies!
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POLITICAL PARODIES
FAMOUS QUOTES
Thomas Macaulay
"The day will come [in the United States] when a multitude of people will choose the legislature. Is it possible to doubt what sort of a legislature will be chosen? On the one side is a statesman preaching patience, respect for rights, strict observance of public faith. On the other is a demagogue ranting about the tyranny of capitalism and usurers and asking why anybody should be permitted to drink champagne and to ride in a carriage while thousands of honest people are want of necessities. Which of the candidates is likely to be preferred by a workman?... When society has entered on this downward progress, either civilization or liberty must perish."
—Thomas Macaulay in his 1857 prediction
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