Patriot News Network

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

Road to Depression

Foreclosure mess could threaten banks!

WASHINGTON - November 16, 2010 - The disarray stemming from flawed foreclosure documents could threaten major banks with billions of dollars in losses, deepen the disruption in the housing market and hurt the government's effort to keep people in their homes, according to a new report from a congressional watchdog.

Road to Depression

50 state attorneys general probing foreclosure fraud!

WASHINGTON - November 16, 2010 – All 50 state attorneys general are in negotiations over an agreement over foreclosures that would include a victims’ compensation fund that would provide money for borrowers whose homes have been taken away improperly, according to state and industry officials.

Road to Depression

More U.S. households are short of food!

WASHINGTON - November 15, 2010 - Almost 15% of U.S. households experienced a food shortage at some point in 2009, a government report has found.

U.S. authorities say that figure is the highest they have seen since they began collecting data in the 1990s, and a slight increase over 2008 levels.

Road to Depression

Greek debt position is worse than feared!

ATHENS, Greece - November 15, 2010 - Greece is officially Europe’s most indebted country and its position will worsen this year, new figures from the EU showed.

The country also said it would miss its deficit target for this year, set as part of the 110 billion euro bailout Greece received from the EU and the International Monetary Fund (IMF) in the spring.

Road to Depression

Euro under siege as Portugal hits panic button!

LISBON, Portugal - November 15, 2010 - The euro is facing an unprecedented crisis after another country indicated on Monday night that it was at "high risk" of requiring an international bailout.

Portugal became the latest European nation to admit it was on the brink of seeking help from Brussels after Ireland confirmed it had begun preliminary talks over its debt problems.

Road to Depression

Secret Walmart survey shows inflation already here!

NEW YORK - November 15, 2010 - There might not have been a second round of quantitative easing, if Federal Reserve Chairman Ben Bernanke shopped at Walmart.

A new pricing survey of products sold at the world’s largest retailer showed a 0.6% price increase in just the last two months, according to MKM Partners. At that rate, prices would be close to 4% higher a year from now, double

Road to Depression

AMBROSE EVANS-PRITCHARD: Europe stumbles blindly towards its 1931 moment!

By Ambrose Evans-Pritchard

LONDON, England - November 14, 2010 - It is the European Central Bank that should be printing money on a mass scale to purchase government debt, not the U.S. Federal Reserve.