Patriot News Network

The following collection of articles by various authors are their opinions, inspiration and humor for your reading enjoyment.

Road to Depression

Amerikan equity in homes near record low!

WASHINGTON (PNN) - June 9, 2011 - Falling home prices have shrunk equity so much that the proportion of their homes that Amerikans actually own is near its lowest point since World War II.

The Federal Reserve says average home equity plunged from more than 61% at the start of 2001 to 38% in the January-March quarter this year. That drop comes as home prices in big metro areas have re

Road to Depression

Jobless claims remain at high level as Depression continues!

NEW YORK (PNN) - June 9, 2011 - The number of Amerikans filing new claims for unemployment aid unexpectedly edged higher last week, stoking fears of a continuing Depression even as a separate report showed record U.S. exports in April.

Initial claims for state jobless benefits increased by 1,000, to 427,000, according to the U.S. Dept. of Labor. However, economists polled by Reuters

Road to Depression

U.S. nearing worst financial crisis ever!

NEW YORK - June 8, 2011 - The U.S. is approaching a financial crisis worse than 2008, warned Jim Rogers, chief executive of Rogers Holdings, on CNBC Wednesday.

"The debts that are in this country are skyrocketing," he said. "In the last three years the government has spent staggering amounts of money and the Federal Reserve is taking on staggering amounts of debt.

Road to Depression

Chronic unemployment worse than the Great Depression!

NEW YORK (PNN) - June 7, 2011 - There is an unfortunate adage for the unemployed: The longer folks are out of a job, the longer it takes them to find a new one.

CBS News correspondent Ben Tracy reports that the chronically unemployed face the hardest road back to recovery, and the jobs picture is not improving for them anytime soon.

Road to Depression

Iowa event lets patrons trade guns for gas!

WATERLOO, Iowa - June 6, 2011 - Drivers can get more bang for their buck by turning in unwanted firearms during a local gas station's Gas For Guns event this coming Saturday.

Jim Lind, who operates Jim Lind Shell on Ridgeway Avenue, got the idea after reading about a similar promotion in a trade magazine. "I thought it was a good thing to do for our community, and everybody nee

Road to Depression

Bankrupt claim heightens Spanish debt fears!

MADRID, Spain - June 5 2011 - The central Spanish region of Castilla-La Mancha is bankrupt, according to the incoming administration of the rightwing Popular party (PP), an accusation that will deepen concerns about Spain’s budget deficit.

Road to Depression

Homeowner forecloses on Bank of America branch office!

COLLIER COUNTY, Florida - June 5, 2011 - Have you heard the one about a homeowner foreclosing on a bank?

Well, it has happened in Florida and involves a North Carolina based bank. Instead of Bank of America foreclosing on some Florida homeowner, the homeowners had sheriff's deputies foreclose on the bank.