US Post Office on Verge of Defaulting

WASHINGTON (Reuters) – The U.S. Postal Service posted a net loss of $3.1 billion in its third quarter and warned again it would default on payments to the federal government if Congress did… Continue reading →

WRAPUP 7-China tells US “good old days” of borrowing are over

NEW YORK/SHANGHAI, Aug 6 (Reuters) – China bluntly criticised the United States on Saturday one day after the superpower’s credit rating was downgraded, saying the “good old days” of borrowing were over. Standard… Continue reading →

Food stamp use rises to record 45.8 million

NEW YORK (CNNMoney) — Nearly 15% of the U.S. population relied on food stamps in May, according to the United States Department of Agriculture. The number of Americans using the government’s Supplemental Nutrition… Continue reading →

Dow average plunges 513, worst drop since 2008

The stock market is finishing its worst day since the financial crisis. The Dow Jones industrial average plunged more than 500 points Thursday. Investors are concerned that the U.S. economy will enter another… Continue reading →

Debt Ceiling Deal Called a “Sugar Coated Satan Sandwich”

The Senate passed a bill raising the debt ceiling that is aimed at averting a government default, clearing the way for President Obama to sign it into law. The final vote was 74-26.… Continue reading →

EU to toughen sanctions after Syria bloodbath

EUOBSERVER / BRUSSELS – The EU is likely to toughen sanctions against the Syrian regime after some 100 people were reportedly killed in the city of Hama when government tanks stormed in on… Continue reading →

Under Obama, U.S. unemployment worse than Mexico

President Obama promised he would fundamentally transform America – and he has.  On Sunday, Kevin McCullough of Townhall reported that Mexico has a lower unemployment rate than the United States. Sporting a brand new… Continue reading →

U.S. on a pace in 2011 to set a record for cost of weather-related disasters

WASHINGTON, D.C. – The United States is on a pace in 2011 to set a record for the cost of weather-related disasters and the trend is expected to worsen as climate change continues,… Continue reading →

Obama following in Hitler’s footsteps

Watching the nonstop commentaries on television about the debt-ceiling debate only reinforces the reality that most people – including many perceived conservatives – still don’t get it. If they did, they would not… Continue reading →

“America Will Lose Its Sovereignty”

Reported by our Ministry in January, 2011: The United States mirrors Satan’s own rebellion with our Mother Yahweh. Satan broke away from a kingdom ruled by Royalty. 13 States represented the imperfection that… Continue reading →

Chinese Media Slams U.S. Debt Crisis

NEW YORK (TheStreet) — A mouthpiece for the Chinese government has published a scathing attack Thursday on the U.S. over its failure to raise the national debt ceiling just days ahead of the… Continue reading →

Ghost towns on the increase as rural America accounts for just 16% of population

Vast swathes of the U.S. countryside are emptying and communities becoming ghost towns as rural America now only accounts for just 16 per cent of the population. The 2010 census results suggest that… Continue reading →

Obama admits the government could default as debt talks collapse AGAIN

House Speaker John Boehner blamed President Barack Obama for the collapse of U.S. debt ceiling talks, saying the White House sought to raise taxes and failed to ‘make the tough choices’ on spending… Continue reading →

Jobless claims rise above expectations

(Reuters) – The number of Americans filing new claims for unemployment benefits rose more than expected last week, pointing to a labor market that is struggling to regain momentum. Initial claims for state… Continue reading →

World one step away from economic meltdown

The world is just one misstep away from a complete financial, economic and geo-political meltdown. Though the mainstream voices have calmed their reports of Middle East conflict amid the debt ceiling and negative… Continue reading →

Europe’s Leaders Have Finally Run Out of Time

Only Germany can save EMU as contagion turns systemic If they fail to agree on some form of debt pooling and shared fiscal destiny at Thursday’s emergency summit, they risk a full-fledged run… Continue reading →

U.S. Sovereign Debt Downgraded to a “C-minus”, DHS Warns Of Terror Attack If Debt Ceiling Not Raised

U.S. Downgraded to ‘Near Junk’ by Weiss “NEW YORK (TheStreet) — Weiss Ratings on Friday downgraded its rating for United States sovereign debt to a “C-minus,” or just one notch above a junk… Continue reading →

10 Signs That The American People Are Starting To Freak Out About The Condition Of The Economy

All over America, restlessness and frustration are growing. It has now been almost three years since the great financial crash of 2008, and yet the U.S. economy is still a complete and total… Continue reading →

Return of the gold standard as world order unravels

As the twin pillars of international monetary system threaten to come tumbling down in unison, gold has reclaimed its ancient status as the anchor of stability. The spot price surged to an all-time… Continue reading →

POTUS: ‘This May Bring Down My Presidency, But I Will Not Yield on This’

From a GOP Aide at the Debt Talks: “Over the last several days the White House has been walking back the savings on the Biden number.  Thursday it was $2 trillion, Monday it… Continue reading →

We are one major scare away from global financial markets unraveling

Moody’s Investors Service put the U.S. under review for a credit rating downgrade as talks to raise the government’s $14.3 trillion debt limit stall, adding to concern that political gridlock will lead to… Continue reading →

Even Dollar Stores Struggling In ‘Obama Depression’

More stores across the U.S. that offer deeply-discounted products are seeing their sales decline after years of growth amid America’s “Great Recession” — and one analyst said on Monday it’s another sign of… Continue reading →

US plan of inaction is dooming economy

If you were shocked by Friday’s US jobs report, if you thought America was doing well and were taken aback by the bad news, you haven’t been paying attention. The fact is, the… Continue reading →

Obama challenges GOP to compromise on debt

WASHINGTON (AP) — President Barack Obama raised the stakes Monday in talks aimed at preventing an unprecedented U.S. default, saying there would be no agreement if Republicans did not compromise and that he… Continue reading →

9% Unemployment Rate is a Statistical Lie

The Bureau of Labor Statistics (BLS) released the latest unemployment figures last Friday.  There was a stunning drop to 9% from 9.4%.  How did that happen?  Is the economy really getting better or… Continue reading →