Road to Depression

Days after freezing prices Argentina bans all advertising!

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BUENOS AIRES, Argentina (PNN) - February 9, 2013 - Supermarkets and electronics retailers say Argentina's government has ordered them to stop advertising in the country's top newspapers, in a bid to weaken independent media companies as President Cristina Kirchner turns to increasingly unorthodox policies to prevent inflation from derailing an ailing economy.

Tens of thousands in Spain protest economic policy and corruption!

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MADRID, Spain (PNN) - February 23, 2013 - Tens of thousands of Spaniards marched through cities across the country on Saturday to protest deep austerity, the privatization of public services, and political corruption.

Gathering under the banner of the "Citizen Tide", students, doctors, unionists, young families and pensioners staged rowdy but non-violent demonstrations as a near five-year economic slump shows no sign of recovery and mass unemployment rises.

More young adults than ever are living on the street!

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SEATTLE, Washington (PNN) - December 18, 2012 - Across the country, tens of thousands of underemployed and jobless young people, many with college credits or work histories, are struggling to house themselves in the wake of the ongoing Second Great Depression, which has left workers between the ages of 18 and 24 with the highest unemployment rate of all adults.

Costa Rica’s currency tumbles due to capital controls bill!

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SAN JOSE, Costa Rica (PNN) - January 22, 2013 - Costa Rica’s currency tumbled a day after the government announced measures to slow capital inflows that President Laura Chinchilla called “weapons of mass destruction” against the nation’s economy.

The colon depreciated 0.7% to 500.83 per dollar at 12:01 p.m. local time. The currency has gained 2.2% this month through yesterday, the most among 19 Latin American and Caribbean economies tracked by Bloomberg.

State lawmakers to adopt alternative currency plan!

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RICHMOND, Virginia (PNN) - February 1, 2013 - Delegate Bob Marshall did a little strategic name-dropping Thursday, and it had the desired effect.

For two years, the Prince William County Republican has been seeking a study of whether Virginia should adopt an alternative currency to replace the dollar in case the Federal Reserve System has a major meltdown.

His quest always ended in failure - until this year.

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