Unemployment rate rises more than expected!
NEW YORK - July 2, 2009 - Employers cut a larger-than-expected 467,000 jobs in June, driving the unemployment rate up to a 26-year high of 9.5 percent, suggesting that the economy's road to recovery will be bumpy.
The Labor Department report, released Thursday, showed that even as the Depression flashes signs of easing, companies likely will want to keep a lid on costs and be wary of hiring until they feel certain the economy is on solid ground.
The Labor Department report, released Thursday, showed that even as the Depression flashes signs of easing, companies likely will want to keep a lid on costs and be wary of hiring until they feel certain the economy is on solid ground.
States brace for shutdowns!
Time is running out for the legislatures in Arizona, Kalifornia, Indiana, Mississippi and Pennsylvania to solve their budget gaps.
INDIANAPOLIS, Indiana - June 30, 2009 - The last time Indiana missed its deadline for passing a budget and had to shut down the government was during the War between the States (Civil War).
But on Monday, as lawmakers raced to hammer out an agreement over school funding, state agencies began preparing 31,000 workers to be temporarily out of a job. Republican Governor Mitch Daniels has warned residents that most of the state's services - including its parks, the Bureau of Motor Vehicles and state-regulated casinos - would be shuttered unless a budget is passed today.
INDIANAPOLIS, Indiana - June 30, 2009 - The last time Indiana missed its deadline for passing a budget and had to shut down the government was during the War between the States (Civil War).
But on Monday, as lawmakers raced to hammer out an agreement over school funding, state agencies began preparing 31,000 workers to be temporarily out of a job. Republican Governor Mitch Daniels has warned residents that most of the state's services - including its parks, the Bureau of Motor Vehicles and state-regulated casinos - would be shuttered unless a budget is passed today.
U.S. consumer confidence sinks!
NEW YORK - June 30, 2009 – U.S. consumer confidence sank in June amid the prolonged Depression, retreating from an eight-month high the prior month, the Conference Board said Tuesday.
The business research group said its consumer confidence index fell to 49.3 points in June from a revised 54.8 in May.
Most analysts expected a much stronger reading of 55.3 points in the 100-point index.
However, the latest number remains higher than the April reading of 40.8, and is far better than the all-time bottom of 25.3 hit in February, the lowest level since tracking of the data began in 1967.
The business research group said its consumer confidence index fell to 49.3 points in June from a revised 54.8 in May.
Most analysts expected a much stronger reading of 55.3 points in the 100-point index.
However, the latest number remains higher than the April reading of 40.8, and is far better than the all-time bottom of 25.3 hit in February, the lowest level since tracking of the data began in 1967.
Kalifornia preparing to issue IOUs!
SACRAMENTO, Kalifornia - June 29 2009 - Kalifornia is preparing to issue IOUs to its creditors this week as it grapples with an unprecedented cash crunch and prepares to begin its new fiscal year deep in the red.
Once the U.S.’s richest state, Kalifornia now has the dubious distinction of having the worst credit rating in the country. It is facing a budget deficit of $24 billion, yet Governor Arnold Schwarzenegger and the State Assembly cannot agree on a budget that would address the shortfall.
Once the U.S.’s richest state, Kalifornia now has the dubious distinction of having the worst credit rating in the country. It is facing a budget deficit of $24 billion, yet Governor Arnold Schwarzenegger and the State Assembly cannot agree on a budget that would address the shortfall.
Detroit Public Schools considering bankruptcy!
DETROIT, Michigan - June 29, 2009 - Detroit Public Schools is considering bankruptcy in addition to cutting 2,451 employees - a massive 17.7 percent of its workforce - to reduce the district's multiyear deficit, Robert Bobb, the district's emergency financial manager, revealed before a budget presentation Monday.
U.S. dollar falls most in month as China urges new reserve currency!
BEIJING, China - June 27, 2009 - The dollar declined the most against the euro in a month and dropped versus the yen after China repeated its call for a new global currency.
The Swiss franc declined against the euro and dollar this week as foreign-exchange analysts said the central bank sold its currency three times to support the economy. The greenback fell against most of its major counterparts yesterday after the People’s Bank of China said the International Monetary Fund should manage more of members’ foreign-exchange reserves.
The Swiss franc declined against the euro and dollar this week as foreign-exchange analysts said the central bank sold its currency three times to support the economy. The greenback fell against most of its major counterparts yesterday after the People’s Bank of China said the International Monetary Fund should manage more of members’ foreign-exchange reserves.
Rise in number of commercial defaults projected!
SACRAMENTO, Kalifornia - June 26, 2009 - Gated and impeccably landscaped, the Magpie Creek condo development typifies developers’ faith during the housing boom that new homes were so hot they would sell anywhere.
The three-storey complex, built in 2006, sits next to Interstate 80 near Del Paso Heights in the Glenwood Meadows neighborhood, a mix of new homes and overgrown empty lots, self-storage facilities and ramshackle duplexes.
The three-storey complex, built in 2006, sits next to Interstate 80 near Del Paso Heights in the Glenwood Meadows neighborhood, a mix of new homes and overgrown empty lots, self-storage facilities and ramshackle duplexes.
More Articles ...
- Substantial downgrade in Kalifornia credit rating is imminent!
- Number of people on welfare increases sharply!
- Unemployment expected to remain in double digits for many years while Depression continues to get worse!
- Employers cutting back on 401(k) plans!
- U.S. home prices drop 6.8 percent in April as foreclosures rise!
- Red Roof Inn financial collapse!
- Kalifornia officials warn financial doom is near!
- U.S. initial jobless claims jump for second week in a row!
- Five more U.S. banks are seized!
- China sells U.S. bonds to express its concern over Amerikan economic policies!
- Refinance applications off by nearly 25 percent in one week!
- 22 banks downgraded by S&P!
- The recession tracks the Great Depression!
- British Airways asks staff to work for free!
- Bankers say cash will become extinct within a decade!
- Credit card default rate hits record high!
- IMF chief warns worst of downturn not yet over!
- U.S. theme park firm Six Flags files for bankruptcy!
- Amerikans net worth shrinks $1.33 trillion in first quarter!
- May foreclosures third highest on record!
- Unemployment continues at record levels!
- 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!
- Illegitimate President Obama illegally seizes private businesses!
- 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!
- 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!
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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