Patriot News Network

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

Road to Depression

Why countries are rushing to devalue their currencies!

TORONTO, Ontario, Canada - October 7, 2010 - The global race to the bottom in currencies may be less a war than it is an inevitable reaction to the growth of developing countries and the need for export-driven economies to stay competitive.

That's the view of experts who, while not wholly subscribing to the idea of a currency war, believe weakness in the U.S. dollar, Chinese yuan a

Road to Depression

State income levels fall for first time in 70 years!

NEW YORK - October 6, 2010 - The Depression put a 3.1% dent in the personal incomes of New York state residents, who endured their first full-year decline in more than 70 years, according to a report released Tuesday.

Paychecks or net earnings tumbled 5.4%, while dividends, interest and rent slid 8.4%, to a grand total of nearly $908 billion, the state comptroller's report said.

Road to Depression

Banks breaking into occupied homes to change locks!

MIAMI, Florida - October 6, 2010 - In their zeal to complete foreclosure proceedings, some banks send representatives to change the locks on properties in foreclosure, even while they remain occupied. The incidents of lock-changing pile further skepticism on a process recently plagued by scandal.

Road to Depression

World economy decoupling from United States!

NEW YORK - October 5, 2010 - Wall Street economists are reviving a bet that the global economy will withstand the U.S. slowdown.

Just three years since Amerika began dragging the world into its deepest Depression in seven decades, Goldman Sachs Group Inc., Credit Suisse Holdings USA Inc. and BofA Merrill Lynch Global Research are forecasting that this time will be different. Goldma

Road to Depression

Housing shows stability but factory orders fall!

WASHINGTON - October 4, 2010 - Pending sales of previously owned homes rose to a four-month high in August, implying the housing market was regaining some stability after recent steep declines following the end of a home-buyer tax credit.

Another report on Monday showed new orders received by domestic factories fell 0.5% in August as demand for transportation equipment fell sharply

Road to Depression

Cities in debt turn to states for help!

NEW YORK - October 4, 2010 - Harrisburg, the capital of Pennsylvania, dodged financial disaster last month by getting money from the state to make a payment to its bondholders.

It did so even though the state warned that the money had to be used for city workers’ pensions.

Road to Depression

AMBROSE EVANS-PRITCHARD: IMF admits that the West is stuck in near Depression!

By Ambrose Evans-Pritchard

LONDON, England - October 3, 2010 - If you strip away the political correctness, Chapter Three of the IMF's World Economic Outlook more or less condemns southern Europe to death by slow suffocation and leaves little doubt that fiscal tightening will trap north Europe, Britain and America in a slump for a long time.