Road to Depression

U.S. nearing worst financial crisis ever!

NEW YORK - June 8, 2011 - The U.S. is approaching a financial crisis worse than 2008, warned Jim Rogers, chief executive of Rogers Holdings, on CNBC Wednesday.

"The debts that are in this country are skyrocketing," he said. "In the last three years the government has spent staggering amounts of money and the Federal Reserve is taking on staggering amounts of debt.

Road to Depression

Chronic unemployment worse than the Great Depression!

NEW YORK (PNN) - June 7, 2011 - There is an unfortunate adage for the unemployed: The longer folks are out of a job, the longer it takes them to find a new one.

CBS News correspondent Ben Tracy reports that the chronically unemployed face the hardest road back to recovery, and the jobs picture is not improving for them anytime soon.

Road to Depression

Iowa event lets patrons trade guns for gas!

WATERLOO, Iowa - June 6, 2011 - Drivers can get more bang for their buck by turning in unwanted firearms during a local gas station's Gas For Guns event this coming Saturday.

Jim Lind, who operates Jim Lind Shell on Ridgeway Avenue, got the idea after reading about a similar promotion in a trade magazine. "I thought it was a good thing to do for our community, and everybody nee

Road to Depression

Bankrupt claim heightens Spanish debt fears!

MADRID, Spain - June 5 2011 - The central Spanish region of Castilla-La Mancha is bankrupt, according to the incoming administration of the rightwing Popular party (PP), an accusation that will deepen concerns about Spain’s budget deficit.

Road to Depression

Homeowner forecloses on Bank of America branch office!

COLLIER COUNTY, Florida - June 5, 2011 - Have you heard the one about a homeowner foreclosing on a bank?

Well, it has happened in Florida and involves a North Carolina based bank. Instead of Bank of America foreclosing on some Florida homeowner, the homeowners had sheriff's deputies foreclose on the bank.

Road to Depression

Only 54,000 jobs created in May as unemployment rises!

WASHINGTON (PNN) - June 3, 2011 - Employment rose far less than expected in May to record its weakest reading since September, while the official jobless rate rose to 9.1% as high energy prices and the effects of Japan's earthquake bogged down the economy.

Road to Depression

Continuing Depression causes more job seekers to give up looking for work!

WASHINGTON (PNN) - June 2, 2011 - The labor force - those who have a job or are looking for one - is getting smaller, even though the economy is reportedly growing and steadily adding jobs.

Economists think some of the missing workers have retired, have entered college or are getting by on government disability checks. Others have probably just given up looking for work.