Patriot News Network

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

Road to Depression

Bad news on homes and goods adds to air of Depression!

WASHINGTON - August 25, 2010 - It's starting to feel like another Great Depression. Businesses are ordering fewer goods. Home sales are the slowest in decades. Jobs are scarce, and unemployment claims are rising. Perhaps most worrisome, manufacturing activity, which had been one of the economy's few bright spots, is faltering.

"The odds of a double-dip are rising and uncomfort

Road to Depression

Bonds are the mother of all bubbles!

NEW YORK - August 24, 2010 - Peter Schiff, famous for issuing warnings ahead of the recent U.S. property crash, doesn't have kind words for the recent U.S. Treasury rally.

Road to Depression

Dollar slides to new 15-year low vs yen!

TOKYO, Japan - August 24, 2010 - The U.S. dollar dropped to a fresh 15-year low against the yen on Tuesday, adding further pain to Japan's export-oriented economy.

The dollar slid as low as 84.17 yen Tuesday afternoon on Tokyo, the lowest since 1995, before recovering slightly to 84.47 yen.

Road to Depression

Home sales plunge to lowest level in 15 years!

WASHINGTON - August 24, 2010 - Sales of previously occupied homes plunged last month to the lowest level in 15 years, despite the lowest mortgage rates in decades and bargain prices in many areas.

July's sales fell by more than 27% to a seasonally adjusted annual rate of 3.83 million, the National Association of Realtors said Tuesday. It was the largest monthly drop on record datin

Road to Depression

Record numbers raid their 401k accounts!

NEW YORK - August 23, 2010 - In the wake of news about a spike in new applications for unemployment benefits comes another potentially troubling sign: a record number of workers made hardship withdrawals from their retirement accounts in the second quarter.

What's more, the number of workers borrowing from their accounts reached a 10-year high, according to a report issued Friday b

Road to Depression

Housing slide threatens to drag economy further into Depression!

NEW YORK - August 23, 2010 - Housing led the U.S. out of seven of the last eight recessions. This time, it may kill any chance of a recovery.

Home sales collapsed after a federal tax credit for buyers expired in April. Since then, the manufacturing-led expansion, which began in the second half of 2009, has been waning, with jobless claims rising and factory orders falling.

War on Freedom

Government can use GPS to track suspects!

LOS ANGELES, Kalifornia - August 26, 2010 - Government agents can sneak onto your property in the middle of the night, put a GPS device on the bottom of your car and keep track of everywhere you go. This doesn't violate your Fourth Amendment protections, because you do not have any reasonable expectation of privacy in your own driveway - and no reasonable expectation that the government isn't t