Road to Depression

Noted economist predicts lawlessness in the United States!

on .

WASHINGTON - January 5, 2010 - In his 2008 bestseller Wealth, War and Wisdom former Morgan Stanley research guru Barton Biggs warns us to prepare for a "breakdown of civilization ... Your safe haven must be self-sufficient and capable of growing some kind of food ... It should be well-stocked with seed, fertilizer, canned food, wine, medicine, clothes, etc ... A few rounds over the approaching brigands' heads would probably be a compelling persuader that there are easier farms to pillage.".

States running out of money for unemployment benefits!

on .

WASHINGTON - January 4, 2010 - One aspect of the current economic collapse that has not been widely reported is the extreme difficulty that most state unemployment insurance funds are facing. At this point, 25 state unemployment insurance funds have gone broke and the Department of Labor estimates that 15 more state unemployment funds will likely go broke within two years and need massive loans from the federal government just to keep going.

2009 bankruptcies up by 32 percent!

on .

RALEIGH, North Carolina - January 4, 2010 - U.S. consumers and businesses are filing for bankruptcy at a pace that made 2009 the seventh-worst year on record, with more than 1.4 million petitions submitted, an Associated Press tally showed Monday.

Amerikans seek silver lining in 2010!

on .

WASHINGTON - December 31, 2009 - The bank account is thin but the future looks pretty good.

That, oddly enough, is the view of many Amerikans who predict 2010 will be a better year than this one, even if they fear that the U.S. economy and their own financial circumstances won't improve.

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