Bankers say cash will become extinct within a decade!
MELBOURNE, Australia - June 15, 2009 - Cash is accelerating down the path to extinction as new technologies threaten to mark the end of loose change within a decade.
Road to Depression
Credit card default rate hits record high!
NEW YORK - June 15, 2009 - U.S. credit card defaults rose to record highs in May, with a steep deterioration of Bank of America’s lending portfolio, in another sign that consumers remain under severe stress.
IMF chief warns worst of downturn not yet over!
LONDON/WASHINGTON - June 15, 2009 - The head of the International Monetary Fund (IMF) warned on Monday it might be too soon to discuss rolling back stimulus spending, saying the world economy had yet to weather the worst of a Depression that has hammered industrial output and claimed a record number of European jobs.
U.S. theme park firm Six Flags files for bankruptcy!
CHICAGO, Illinois - June 13, 2009 - Six Flags Inc, the world's largest regional theme park company, said Saturday it has filed for bankruptcy protection.
Amerikans net worth shrinks $1.33 trillion in first quarter!
WASHINGTON - June 11, 2009 - Amerikan households lost $1.33 trillion of their wealth in the first three months of the year as the Depression took a bite out of stock portfolios and dragged down home prices.
May foreclosures third highest on record!
NEW YORK - June 11, 2009 - U.S. foreclosure activity for May ebbed from April's record, but mortgages still failed at a staggering pace as illegitimate President Barack Obama's rescue programs have not taken root, RealtyTrac said on Thursday.
Unemployment continues at record levels!
NEW YORK - June 11, 2009 - New claims for unemployment benefits fell last week for the fourth consecutive week but the insured unemployment rate held steady, the Labor Department said Thursday.
More Articles ...
- Kalifornia nears financial collapse!
- Airlines say economic downturn is worse than the aftermath of 9/11!
- U.S. unemployment rate at highest level in 25 years!
- University professor says home price decline will continue indefinitely!
- F.D.I.C. closes Atlanta bank!
- Nobel economist compares current financial crisis with the Great Depression!
- Bankruptcy filings rise to more than 6,000 a day as job losses take their toll!
- Nation’s top retailers report sales declines!
- As the Dollar Falls off the Cliff...
- Rising interest on debts of nations may sap world growth!
- Airlines face worst year in aviation history!
- Economic outlook gloomy despite positive spin by government officials!
- General Motors goes bankrupt!
- To ensure a rising market, General Motors and Citigroup are removed from the Dow Jones Industrials!
- Food stamp participation at record levels!
- U.S. inflation predicted to approach Zimbabwe level!
- Analysts predict gold may hit $1,250 in near future!
- Home prices fall at record pace!
- Depression spurs spike in suburban survivalists!
- Job losses push safer mortgages to foreclosure!
- Professor warns that Britain may suffer a double Depression!
- Two Illinois banks closed by feds!
- If you're not frightened then you're not paying attention!
- Illegitimate President Obama illegally seizes private businesses!
- More mortgage meltdown is coming!
- Russia dumps U.S. Dollar as reserve currency!
- Housing construction and permit requests hit record lows!
- General Motors bankruptcy seen as inevitable!
- Nobel economist says effects of Depression could last five years!
- Smaller banks face big losses!
- Ambrose Evans-Pritchard: Asia will author its own destruction if it triggers crisis over U.S. bonds!
- Noted analyst says stocks still face deflationary collapse!
- Brazil and China eye plan to axe U.S. dollar!
- Chrysler closing 789 dealerships!
- U.S. foreclosure filings hit record for second month in a row!
- Six GM executives sell more than 200,000 company shares!
- General Motors bankruptcy is imminent!
- Noted analyst advises against owning bank stocks!
- Ambrose Evans-Pritchard: Enjoy the rally while it lasts but expect to take a sucker punch!
- City now charges rent at homeless shelters!
- General Motors and union clash as bankruptcy looms for auto giant!
- Regulators close 33rd failed bank this year!
- General Motors to post a substantial loss!
- Jobless claims at record levels for 14th straight week!
- U.S. Postal Service facing deeper losses!
- Chrysler bankruptcy has dealers very nervous!
- Economic casualties of Depression pile into tent cities!
- GMAC reports $675 million loss as loan defaults rise!
- 401(k)s freeze account access!
- Boston Globe to close!
