The City Council of Harrisburg, the cash-poor capital of Pennsylvania, advertised for attorneys who could advise it on whether to file for bankruptcy or enroll in the state "distressed cities" program. A City Councilman noted municipal bankruptcies a
Why? Because as the chart shows, more than ever, personal income is comprised of government transfer payments, not actually real income derived from the productive part of society.
5) You'll spend a lot of your time feeling like a dog leashed to a pole outside the grocery store – separation anxiety will become your permanent state
But just how bad are those debt problems? It could drive some states to default if conditions get worse or force a federal government bailout.
2 - The seasonally-adjusted Alternate Unemployment Rate compiled by Shadow Government Statistics shows that the real unemployment rate in the United States is worse than it has been ever since the economic downturn began. (22%)
The facts, issued monthly by the US Bureau of Labor Statistics, had no impact on the ”New Economy” propaganda. Economists continued to wax eloquently about how globalism was a boon for our future.
If a big enough proportion of the populace – not even a majority, just a largish chunk – decides that it’s just not worth following the rules anymore, then that society’s days are numbered: Not even a police-state with an armed Marine at every...
The Federal Reserve spent the past three decades getting inflation low and keeping it there. But as the U.S. economy struggles and flirts with the prospect of deflation
Using the preliminary benchmark estimate, this means that payroll employment in March 2010 was 366,000 lower than originally estimated.
A court-appointed receiver has taken over operations of the 97-year-old Crowne Plaza San Marcos Golf Resort after San Marcos Capital partners defaulted on a $23.9 million loan from Guaranty Bank and Trust Co...
The BLS has issued its estimate of the benchmark revision,which confirms that the BLS is really just BS. According to the report, for the period ended March 2010, the BLS has overestimated jobs by 366,000 (0.3%), or just over 30K jobs per month.
The Best Article Ever Written on Depressions - No Way Out, Doug Casey on the greatest depression, and why it might not be all bad. - Anarchy Is the Answer, Ralph Raico on liberation from the parasite state.
Impending operational collapse of some of the largest U.S. banks will serve as the catalyst for re‐creation of RFC‐type liquidation vehicle(s) to handle the operational task of finally deflating the subprime bubble. (so what is an RFC?)
Meredith Whitney recently issued a huge report about how the states represent systemic risk, and she's absolutely right. They're emerging as the key economic problem.
This is definitely weaker than expected. Massive cutting on the public sector level really was the culprit. The losses were split between census and non-census employees.
The chart gives you a state by state breakdown of the increase in households enrolled in the Supplemental Nutrition Assistance Program (SNAP))
More taxpayer support is needed to ensure global financial stability despite the billions already pledged, the International Monetary Fund has warned, as banks remain the “achilles heel” of the economic recovery.
In stark terms, Fitts says it's more than just "a process designed to wipe out the middle class. This is genocide (by other means) - a much more subtle and lethal version than ever before perpetrated by the scoundrels of our history texts."
The U.S. is now clearly on the path Argentina started down with the Peron regime. Cause has effect. Actions have consequences, and the result will be much the same. Except I believe the descent of the U.S. will be much faster, much scarier...
In less than 200 years, the free market, property rights, and respect for the rule of law took this nation from a rough frontier to a global economic superpower.
In their zeal to complete foreclosure proceedings, some banks send representatives to change the locks on properties in foreclosure, even as they remain occupied.
JPMorgan Chase & Co., Bank of America Corp. and Ally Financial Inc., defending allegations of fraudulent home foreclosures from customers and Congress, may face the most financial peril from investigations by state attorneys general.
California Democrats in the House of Representatives are calling for federal investigations into whether financial institutions broke any laws in their handling of foreclosures in the midst of the housing crisis.
Tyranny's Last Stand - Who Owns the Media? - False-Flag Operation From Outer Space? - A Bank Holiday Triggered by a 'National Emergency'?, It's coming, along with a great war following the greatest depression, says Gerald Celente.
What we have is a bankrupt empire – and that’s the sort of empire that inevitably goes into decline. If we follow the advice of Kristol and his buddies, we’ll be in receivership in no time.
Municipal pain is at its worst level on record, according to annual report from the National League of Cities. Revenue is 3.2% lower than last year, which was already at record lows. It may get worse next year as property taxes decline to reflect...
In this struggling economy it is essential for politicians to take a step back and think about what government has been doing to business in this country. In less than 200 years, the free market, property rights, and respect for the rule of law took
If they are not corrected they will destroy not only our economy but also our entire way of life. The sad truth is that it would be hard to understate just how desperate the situation is for the U.S. economy...
Gallup's consumer spending measure averaged $56 per day in the two weeks ending Sept. 26. This is down from $64 and $61 during the prior two weeks of September. (This is down from $99 per day in the same week in 2008)