Prophecy in today's headlines

Be Prepared, The Worst Is Yet To Come

The large-scale government intervention in the economy is going to end badly. Any number of pundits claim that we have now passed the worst of the recession. Green shoots of recovery are supposedly popping up all around the country, and the economy is expected to resume growing soon at an annual rate of 3% to […]

1,000 Banks to Fail In Next Two Years

The US banking system will lose some 1,000 institutions over the next two years, said John Kanas, whose private equity firm bought BankUnited of Florida in May. “We’ve already lost 81 this year,” Kanas told CNBC. “The numbers are climbing every day. Many of these institutions nobody’s ever heard of. They’re smaller companies.” (See the […]

Unemployment – 13 Million Jobless

Unemployment zoomed to 8.5 percent last month, the highest in a quarter-century, as employers axed 663,000 more workers and pushed the nation’s jobless ranks past 13 million. The hard times were only expected to get harder — a painful 10 percent jobless rate before long. The current rate would be even higher — 15.6 percent […]

Tent City For Homeless Moving To California Fairgrounds

California Governor Arnold Schwarzenegger said a make-shift tent city for the homeless that sprang up in the capital city of Sacramento will be shut down and its residents allowed to stay at the state fairgrounds. Schwarzenegger said he ordered the state facility known as Cal-Expo to be used for three months to serve the 125 […]

Supermarkets Emergency Plans To Keep Shelves Full – UK

Fears that scores of supermarket suppliers will go bust next year have led the country’s major chains to draw up emergency plans to replace them, The Observer can reveal. Separately, on the high street, bailiffs are getting ready for their busiest Christmas ever, with a slew of retailers expected to go into administration. Supermarket chain […]