Road to Depression
Half of U.S. mortgages are effectively underwater!
NEW YORK - November 8, 2011 - A new report on still-falling home prices highlights the fact that the lower those prices go, the more Amerikan borrowers fall into a negative equity position; that is, they owe more on their mortgages than their homes are worth.
Most analysts will tell you that negative equity is the number one problem in the housing market today, even worse than forecl
Revised formula shows 49.1 million Amerikans in poverty!
WASHINGTON - November 7, 2011 - The ranks of Amerika's poor are greater than previously known, reaching a new level of 49.1 million - or 16% - due to rising medical costs and other expenses that make it harder for people to stay afloat, according to new census estimates.
The numbers released Monday are part of a first-ever supplemental poverty measure aimed at providing a fuller pict
Jobs report indicates continuing Depression!
NEW YORK (PNN) - November 4, 2011 - October's employment reports showed continued sluggish job growth, but positive revisions for earlier months takes away some of the sting and reaffirms the economy is growing.
The government reported 80,000 total jobs were added in October. There were 104,000 private sector positions added in professional and business services, leisure and hospital
Greece exit from euro could trigger chain reaction in Europe!
CANNES, France - November 3, 2011 - It may well be remembered as the day the euro zone began to break apart.
At a late night news conference in Cannes on Wednesday, German Chancellor Angela Merkel and French President Nicolas Sarkozy shattered the bloc’s most sacred taboo, conceding openly for the first time that Greece might end up having to leave the tight-knit currency club it j
Nearly 15 percent of Amerikans use food stamps!
NEW YORK (PNN) - November 1, 2011 - Nearly 15% of the U.S. population relied on food stamps in August, as the number of recipients hit 45.8 million.
Food stamp rolls have risen 8.1% in the past year, the Department of Agriculture reported, though the pace of growth has slowed from the depths of the Depression.
Bank of America bows to public pressure and will not initiate debit card fee!
NEW YORK - November 1, 2011 - Bank of America is nixing its plans to charge a $5 debit card fee.
The bank says in a statement that the decision to scrap the plan came after listening to customer feedback in recent weeks.
Greek government on verge of imploding!
ATHENS, Greece - November 1, 2011 - Greece's government looked on the verge of implosion on Tuesday ahead of a Friday no confidence vote, as a socialist deputy defected and another cadre called for early elections after the prime minister called a referendum on his EU debt rescue.
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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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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