Paulson Threatened Great Depression, Food Riots To Get Bailout Bill Passed

As it emerges that Paulson had a US$ 700 million conflict of interest when he threatened the US Representatives with food riots and a great depression to get the first bailout voted through he is finally forced to explain himself. During Paulson’s first appearance on Capitol Hill since he left office yesterday, the former CEO […]

Wall St closes out worst year since Depression

By Chuck Mikolajczak and Chris Sanders NEW YORK (Reuters) – Wall Street closed out its worst year since the Great Depression on Wednesday after an unstoppable credit crisis and a dreadful economic outlook left investors questioning their faith in stock markets. A string of financial disasters culminating in the collapse of Lehman Brothers in the […]

Average home price $18,513 – Unemployment rate 21%

Imagine empty houses, malls, factories, schools. Mad Max homelessness, famine and crime (when it is really about that last piece of bread) and this is only just the beginning. The Great Depression has reached Detroit. The average price of a home is now $18,513 and unemployment has reached 21%, and it’s expected to get worse. […]