Patriot News Network

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

Road to Depression

Corporate pension bomb set to explode!

NEW YORK - August 11, 2010 - I've been writing for a couple of years about the risks corporations face from what is now an impending cataclysm that will hit earnings, cash flows and credit. Posing that risk are pensions and other employee benefits for which the bill will soon come due.

Road to Depression

Dollar hits 15-year low against Yen!

LONDON, England - August 11, 2010 - The U.S. dollar slid to a 15-year low against the yen Wednesday, dragged down by the ongoing Depression in the world's biggest economy.

Road to Depression

Dollar falls after Fed announcement!

NEW YORK - August 10, 2010 - The dollar fell against the yen on Tuesday and erased gains against the euro after the Federal Reserve unveiled plans to boost a flagging economy by reinvesting money from maturing mortgage bonds into government debt.

The move marks an important policy shift for the Fed, which just months ago had been debating how to start winding up its various monetar

Road to Depression

Bay area boasts 20 percent unemployment with house prices off sharply!

SAN FRANCISCO, Kalifornia - August 9, 2010 - Alana Semuels at the Los Angeles Times describes the impact of the housing/credit bust on the communities east of San Francisco.

Building has all but stopped. Home prices in San Joaquin County have fallen 63% since the peak median price of $

Road to Depression

Employment figures continue to reflect ongoing Depression!

NEW YORK - August 6, 2010 - Total nonfarm payroll employment declined by 131,000 in July, and the official unemployment rate was unchanged at 9.5% percent, the U.S. Bureau of Labor Statistics reported today. Federal government employment fell, as 143,000 temporary workers hired for the decennial census completed their work. Private-sector payroll employment edged up by 71,000.

Road to Depression

Pre-foreclosure filings climb in metro area!

PHOENIX, Arizona - August 3, 2010 - More Phoenix-area homeowners are falling behind on their mortgages or “walking away” from them. The number of pre-foreclosures in the region jumped 33% in July.

Last month, there were 7,804 notices of trustee sales, or pre-foreclosure filings, according to real estate research firm Information Market. That compares to 5,833 in June. J

War on Freedom

City to pay 8 million dollars to wrongfully imprisoned man!

LOS ANGELES, Kalifornia - August 12, 1010 - The city of Long Beach, Kalifornia, has agreed to pay a nearly $8 million settlement to a man who served 24 years in prison before his murder conviction was overturned.