Patriot News Network

The following collection of articles by various authors are their opinions, inspiration and humor for your reading enjoyment.

Road to Depression

Moody’s cuts rating on 12 UK financial institutions!

LONDON, England - October 7, 2011 - Moody’s ratings agency lowered the rating of 12 UK financial institutions on Friday, saying it sees a decreased likelihood of government support for smaller institutions in particular but specifying the move does not reflect deterioration in the financial strength of the banking system.

Road to Depression

Fitch lowers Spain and Italy credit ratings!

NEW YORK - October 7, 2011 - Fitch on Friday cut Italy's sovereign credit rating by one notch, to A+ from AA-, saying the move reflected the worsening of the euro zone's debt crisis and an erosion of market confidence caused by the government's initially hesitant response to the rise in its bond yields.

Road to Depression

IMF advisor warns of Eurozone meltdown in 2-3 weeks!

LONDON, England (PNN) - October. 6, 2011 - In a recent interview on the BBC, IMF advisor Robert Shapiro said some incredibly alarmist things.

He told broadcasters that if eurozone leaders don't address the crisis properly we will see a meltdown as soon as later this month.

Road to Depression

Unemployment claims rise amid wobbly economy!

NEW YORK (PNN) - October 6, 2011 - New U.S. claims for unemployment benefits rose less than expected last week, according to a government report on Thursday that hinted at an improvement in labor market conditions.

Road to Depression

Nearly half of all Amerikans receiving government dole!

NEW YORK - October 5, 2011 - Families were more dependent on government programs than ever last year.

Nearly half of the population - 48.5% - lived in a household that received some type of government benefit in the first quarter of 2010, according to U.S. Census data. Those numbers have risen over the last eighteen months of the Depression, when 44.4% lived in households receiving b

Road to Depression

20,000 demonstrate in Greece against austerity!

ATHENS, Greece - October 5, 2011 - More than 20,000 public sector workers demonstrated in Athens Wednesday, in a strike against deeper austerity cuts that shut down courts, schools and transport, including air traffic.

Road to Depression

Ireland is printing its old currency!

DUBLIN, Ireland - October 4, 2011 - Ireland's central bank reportedly is printing Ireland's old currency in case the country leaves the eurozone. At least that's the rumor circulating in Dublin, notes Alan McQuaid, chief economist at Bloxham stockbrokers in the city.