Job losses and early retirements hit Social Security!
WASHINGTON - September 28, 2009 - Big job losses and a spike in early retirement claims from laid-off seniors will force Social Security to pay out more in benefits than it collects in taxes the next two years, the first time that's happened since the 1980s.
AMBROSE EVANS-PRITCHARD: Money figures show there's trouble ahead!
Private credit is contracting on both sides of the Atlantic. The M3 money data is flashing early warning signals of a deflation crisis next year in nearly half the world economy. Emergency schemes that have propped up spending are being withdrawn, gently or otherwise.
By Ambrose Evans-Pritchard
LONDON, England - September 26, 2009 - Unemployment benefits have masked social hardship until now but these are starting to expire with cliff-edge effects. Car sales were up 28% in August, but only by stealing from the future. The Center for Automotive Research says sales will fall by a million next year: "It will be the largest downturn ever suffered by the German car industry."
By Ambrose Evans-Pritchard
LONDON, England - September 26, 2009 - Unemployment benefits have masked social hardship until now but these are starting to expire with cliff-edge effects. Car sales were up 28% in August, but only by stealing from the future. The Center for Automotive Research says sales will fall by a million next year: "It will be the largest downturn ever suffered by the German car industry."
Simmons plans to file for bankruptcy protection!
ATLANTA, Georgia - September 25, 2009 - Simmons Co., the maker of Beautyrest mattresses, said Friday that it plans to file for Chapter 11 bankruptcy protection in a move that will put new owners in charge of the bedding unit and significantly lower the company's debt.
Luxury hotels risk loan defaults!
NEW YORK - September 24, 2009 - Luxury hotel owners risk defaulting on their debt as the Depression cuts occupancies and the credit crunch constrains refinancing.
Citigroup considers shrinking branch network!
NEW YORK - September 24, 2009 – Citigroup, Inc. may sell or shut some of its 1,001 branches in the U.S. and Canada as the bank shrinks following last year’s $45 billion federal bailout, a person familiar with the matter said.
AMBROSE EVANS-PRITCHARD: Spain tips into Depression!
Spain is sliding into a full-blown economic Depression with unemployment approaching levels not seen since the Second Republic of the 1930s and little chance of recovery until well into the next decade, according to a clutch of reports over recent days.
By Ambrose Evans-Pritchard
LONDON, England - September 24, 2009 - The Madrid research group RR de Acuña & Asociados said the collapse of Spain's building industry will cause the economy to contract for the next three years, with a peak to trough loss of over 11% of GDP. The grim forecast is starkly at odds with claims by premier Jose Luis Zapatero, who still says Spain's recession will be milder than elsewhere in Europe.
By Ambrose Evans-Pritchard
LONDON, England - September 24, 2009 - The Madrid research group RR de Acuña & Asociados said the collapse of Spain's building industry will cause the economy to contract for the next three years, with a peak to trough loss of over 11% of GDP. The grim forecast is starkly at odds with claims by premier Jose Luis Zapatero, who still says Spain's recession will be milder than elsewhere in Europe.
Teens lack jobs despite federal stimulus money!
FRESNO, Kalifornia - September 23, 2009 - More than $1.2 billion in federal stimulus money was supposed to help teenagers find jobs this summer, but the effort barely made a dent in one of the bleakest job markets young workers have faced in more than 60 years.
More Articles ...
- Depression could stall growth for seven years!
- Commercial real estate is next bubble to burst!
- FDIC may look to U.S. banks for funds!
- Iran replaces U.S. dollar with euro in foreign exchange!
- 42 states lose jobs in August!
- Kalifornia and Nevada hit record unemployment levels!
- Incomes of young people in nosedive!
- Big companies that are veering toward bankruptcy!
- Officials warn option mortgages about to explode!
- 86 percent of Amerikans believe Depression continues!
- Blockbuster more than doubles planned store closures!
- Projections suggest 200-300 more bank failures this year!
- AMBROSE EVANS-PRITCHARD: U.S. credit shrinks at Great Depression rate!
- U.S. foreclosure filings continue at record pace!
- Number of poor in U.S. climbs to 39.8 million!
- July trade deficit rises to $32 billion!
- Another wave of foreclosures looms!
- Gold jumps to 18-month high on weaker dollar!
- Post Office threat adds to U.S. property woes!
- Swiss topple U.S. as most competitive economy!
- China signals move away from U.S. dollar!
- UN conference calls for new global currency!
- U.S. banks lose collective 3.7 billion dollars in quarter!
- FDIC might sink into red by end of year!
- Ambrose Evans-Pritchard: Can the soufflé really rise again?
- Real U.S. unemployment rate at 16 percent!
- Senator warns of hyperinflation!
- State government to shut down for 12 days!
- Analyst predicts 150-200 more bank failures!
- Noted economist warns of double-dip Depression!
- Seized Texas bank sold to Spanish firm!
- Arizona's credit rating downgraded to negative!
- Frailty lingers in housing and producer price reports!
- Reader's Digest set to file for bankruptcy!
- Unemployment spike compounds foreclosure crisis!
- Tax bills put pressure on struggling homeowners!
- Resort offers $19 "survivor" package!
- Chinese stocks plunge almost 6 percent!
- Consumers don't share market optimism!
- An avalanche of insider stock selling!
- Consumer bankruptcies may hit 1.4 million by end of year!
- Foreclosures rise substantially over previous month!
- Retail sales dip more than expected while jobless claims rise!
- InterContinental says recovery is years away!
- Soaring deficit very bad news for the economy!
- Bad assets still threaten banks!
- Anti-Obama trinket sales hit new high!
- Federal deficit grew by $181 billion in July!
- Number of food stamp recipients tops 34 million for first time ever!
- Sluggish July sales show tight-fisted consumers!
Eulogies
Eulogy for an Angel
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Freedom
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My Father
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Dr. Stan Dale
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MICHAEL BADNARIK
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A. Solzhenitsyn
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Patrick McGoohan
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Joseph A. Stack
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Bill Walsh
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Walter Cronkite
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Eustace Mullins
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Paul Harvey
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Don Harkins
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Joan Veon
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David Nolan
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Derry Brownfield
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Leroy Schweitzer
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Vaclav Havel
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Andrew Breitbart
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Dick Clark
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Bob Chapman
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Ray Bradbury
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Tommy Cryer
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Andy Griffith
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Phyllis Diller
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Larry Dever
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Brian J. Chapman
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Annette Funnicello
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Margaret Thatcher
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Richie Havens
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Jack McLamb
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James Traficant
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Dr. Stan Monteith
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Leonard Nimoy
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Stan Solomon
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B. B. King
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Irwin Schiff
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DAVID BOWIE
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Muhammad Ali
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GENE WILDER
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phyllis schlafly
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John Glenn
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Charles Weisman
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Carrie Fisher
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Debbie Reynolds
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Roger Moore
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Adam West
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JERRY LEWIS
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HUGH HEFNER
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PROF. STEPHEN HAWKING
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ART BELL
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DWIGHT CLARK
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CARL MILLER
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HARLAN ELLISON
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STAN LEE
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CARL REINER
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SEAN CONNERY
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L. NEIL SMITH
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JOHN STADTMILLER
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