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2009 Depression Validated

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posted on Apr, 5 2009 @ 12:32 AM


Pratt and Whitney -20
Nationwide Insurance -480
Charlotte-Mecklenburg Schools -107
Art Gallery of Ontario -23
Zippy's -47
City of Kansas City -100
WestPoint Home Closing Plant -134
Disney Update -1,900
International Paper Closing Plant -114
SandRidge Energy -60
University of TN Health Science -5

TOTAL - 2,290


130,793 Bankruptcy Petitions In March

[edit on 5-4-2009 by spinkyboo]

posted on Apr, 5 2009 @ 12:55 AM
Headlines for April 5th 2009

Britain's Darling admits economic forecast wrong

UPDATE 2-Britain digs in heels over supervision reform

posted on Apr, 5 2009 @ 01:01 AM

Originally posted by Hx3_1963
Headlines for April 5th 2009

Britain's Darling admits economic forecast wrong

Oh really?
Yikes - it doesn't take a rocket scientist.
It's the land of the smiling liars.
Easier than facing what is.

posted on Apr, 5 2009 @ 01:32 AM
reply to post by spinkyboo bad some other people won't admit they're wrong as well...

We're gonna keep sliding down this icy slope, till we hit the big tree at the bottom...

And it's gonna hurt...

[edit on 4/5/2009 by Hx3_1963]

posted on Apr, 5 2009 @ 02:49 PM
The Worst Economic and Cultural Crisis of all Time

Why the G-20 didn't solve our problems

US watchdog calls for bank executives to be sacked

EU commits to help U.S. stem economic crisis

U.S. Trade Gap Probably Held at Six-Year Low as Exports, Imports Plunged

Geithner: Economy'll Have "Fits And Starts"

Geithner: Bankruptcy Still Option For GM

Geithner: Government May Pick Your Execs

Geithner denies White House sidestepping CEO pay limits

Summers Banked Fees From TARP Recipients

London Bank Bonuses Plunged 62% Last Year, More Than New York, Survey Says

U.K. Companies Issue Most Profit Warnings Since 2001, Ernst & Young Says

Australia's Budget Deficit May Reach A$100 Billion; Spending Cuts Needed

Australia's Jobless to Get Waivers on Mortgage Payment as Economy Shrinks

Hypo Real Estate May Be Acquired by Government, Not Expropriated, FT Says

Italians Rally in Rome to Demand More Government Measures to Aid Economy

Drawing The Battle Lines Of Class Warfare

Homeless Kids Found Living in Train Station Tunnels

Hospitals can save by doing less - Thomson Reuters

MGM hires Morgan Stanley to look at casino sales: report

Lockheed, Boeing Weapons Are at Risk as Pentagon Shuts Spending `Spigot'

U.S. Says N. Korean Rocket Launch Failed

Sun 4-5-2009

Hillsborough County Water Dept. -14
Essar Steel Algoma -500
Navistar -345
International Paper Closing VA Plant -100
International Paper Closing Polk Plant -96
International Paper Closing KC Plant -100
Times-Tribune Newspaper -18
AnchorBank Closing 3
Branches -19
MeadWestvaco Paper Mill -80
CertainTeed Plant -16%
The Oilgear Co. -24
Mason Companies -50

TOTAL - 1,350 approx

[edit on 4/5/2009 by Hx3_1963]

posted on Apr, 6 2009 @ 03:08 AM
Headlines for April 6th 2009

Mayo Says Loan Losses Will Exceed Depression Levels (Update1)

Communities print own currencies to keep cash flowing

Taxpayers face £500 bill to plug Britain's black hole

[edit on 4/6/2009 by Hx3_1963]

posted on Apr, 6 2009 @ 12:00 PM
Union County SC Unemployment Rate 19.6%

Nearly 1 in 5 Union County workers is unemployed

"The second Great Depression is already here," said Walter Wilkerson, a retired Union County resident who formerly worked at the Cone Mills LLC textile plant in Carlisle. "It certainly feels like it. With the state government cutting its funding and everything else, I'm worried that I will go to pick up my Social Security check and it won't be there."

Job center struggles with massive need In Portland, Ore.,
one center works to meet unprecedented demand

By Allison Linn Senior writer updated 19 minutes ago
Alison Allison Linn Senior writer •

The doors aren’t even open at WorkSource Portland Metro East, and yet a line is already starting to form outside the squat tan office building. It’s just before 8 a.m., and people are anxious to start looking for work. By 9 a.m., the publicly funded job and retraining center will be overflowing with clients. People who once held jobs as chefs, truck drivers, industrial buyers, retirement home managers and car dealers will pass through the doors. Some will have master’s degrees and others won’t have graduated from high school; none will have had any luck — yet — finding a job in this hard economy.

[edit on 6-4-2009 by spinkyboo]

posted on Apr, 6 2009 @ 07:06 PM
Altman: Not a normal cyclical recovery

US Recovery Is Far Off, Banks Are 'Basically Insolvent': Soros

Soros Says New Mark-to-Market Rules Keep Banks Alive, Sees Brazil Recovery

JPMorgan Chase, Goldman Sachs, Citibank, Wells Fargo and More Than 1,800 Other Institutions Believed to Be at Risk of Failure Based on Fourth Quarter 2008 Data

S&P 500 Can't See Enough Money-Making in Final Quarter to Keep Rally Alive

Brown Pressed By Unions, Lawmakers to Increase Spending in U.K.'s Budget

Japan set for second economic bail-out

Yosano Says Finding Cash for Japan Stimulus is 'Major Task' as Debt Swells

New Zealand Business Confidence Slips to 35-Year Low as Recession Worsens

Building Industry in Australia Contracts 13th Month Amid Recession Signs

Putin Plans $90 Billion Economic-Stimulus Package to Ease `Very Hard' Year

Siberian Services Default on $100 Million Bonds is Russia's First of 2009

Ireland, Facing `Grave' Budget Crisis, May Increase Taxes, Reduce Spending

Loonie Loses 3% as Traders See Carney Pushing Canada to Quantitative Ease

Canada's February Building Permits Fall to the Lowest Level in Seven Years

Brazil Analysts Slash GDP Forecast, Predicting First Recession in 17 Years

Brazilian Power Consumption May Drop 2.2% on Economy, Credit Suisse Says

Chile's Economy Shrank 3.9 Percent in February vs Year Ago, Most in Decade

South African Manufacturing Output Probably Fell by Record: Week Ahead

Malawi May Deport Tobacco Buyers if Prices Don't Improve, President Says

GM Said to Speed Up Bankruptcy Preparations as Board Crafts Savings Goals

Copper Declining Demand Pushing Prices 15% Lower as Traders Assess Quarter

Rio Curtails Output at Weipa Bauxite Mine, Slows Yarwun Alumina Expansion

Xstrata to Shut Canadian Smelter for Two Months as Acid Demand Declines

[edit on 4/6/2009 by Hx3_1963]

posted on Apr, 6 2009 @ 09:51 PM


Apache Junction School District -49
APC Update -30
Eastman Chemical -200
Alston Bird Law Firm -86
Mason Schools -22
UST Inc. -60
Ingram Micro Canada -50
Dallas Morning News -500
Contra Costa County -120
Ecco Shoe Co. -1,150
Fujicolor Closing Plant -145
Galbreath Closing Plant -28
Shire Pharma Closing Plant -260
Breyers Ice Cream Plant Closing -201
City of St. Louis -73

TOTAL 2,974 est.
Under 3,000 reported on a Monday.

Thousands of F-22 Jobs At Risk

Pentagon to end F-22 jets, presidential chopper

By The Associated Press Defense Secretary Robert Gates

Defense Secretary Robert Gates says the Pentagon will end the F-22 fighter jet, which is assembled in Marietta, and presidential helicopter programs run by Lockheed Martin Corp. As a result, roughly 2,000 workers at the Lockheed Martin plant in Marietta could lose their jobs. Military analysts widely expected the radar-evading supersonic jet considered an outdated weapon system designed for the Cold War would not go beyond the 187 already planned. The planes cost $140 million each. But Bethesda, Md.-based Lockheed, the nation's largest defense contractor, has said almost 95,000 jobs could be at stake if the Pentagon didn't buy more of the planes. The new fleet of presidential helicopters with a price tag of $11.2 billion that was nearly double the original budget also were considered at risk to be cut in the 2010 budget.
(Copyright 2009 by The Associated Press. All Rights Reserved.)

posted on Apr, 6 2009 @ 10:33 PM
Government debt was double that of GDP in 1945, and that is what pulled us out of the great depression. Super high taxes on incomes over a certain level were also established. If it worked then, it should work now.

Stocks were led lower by financials in the early going. Financials (-2.9%) were put under pressure when a reputable analyst from Calyon Securities gave a pessimistic analysis of the banking industry by stating that banks' loan losses relative to their total loans should increase to levels that exceed those of the Great Depression.

The best solution at this time would be major government investment in a new transportation infrastructure which allows people to purchase personal vehicles that will operate on a electrical rail system. Build these systems on top of our current highway system. Develop a redundant computer controlled system with extra safety features and control capabilities in the cars themselves. In high traffic areas, cars could be coupled together, reducing the amount of space needed for large numbers of vehicles in high traffic areas. The individual factor would be eliminated in accelerating, braking, and steering, no need for traffic cops, greatly reduced car insurance, and people could spend commuting time doing other things. In addition, vehicles could travel between cities at high speeds, maybe over 200 MPH, travel coast to coast in the U.S. in 12 hours.

Hey, if we are going to have a WW II type government spending program to end this depression, this would be a better way to go.

[edit on 6-4-2009 by poet1b]

posted on Apr, 6 2009 @ 11:12 PM
Headlines for April 7th 2009

Toxic debts could reach $4 trillion, IMF to warn

U.S. deficit nearly $1 trillion in first half of FY2009

Bernanke ‘Green Shoots’ May Signal False Spring Amid Job Losses

GM Said to Speed Up Bankruptcy Preparations as Board Reworks Savings Goals

GM in "intense" bankruptcy preparations: source

U.S. apartment market worsens with economy: research firm

New York Office Rents Fall 6% in First Quarter (Update1)

Mortgage delinquencies soar in the U.S.

Sales likely gloomy for retailers

CEO confidence falls to record low

Eurozone's GDP revised downwards

ECB's Stark raps move to boost IMF drawing rights

ECB attacks G20 plan to boost IMF drawing rights to pump cash into global economy

RBS says UK government stake to rise to 70 percent

RBS says to cut up to 9,000 jobs

UK unemployment will reach 3.2m, BCC warns

UK industrial production suffers worst annual fall since 1968

UPDATE 1-Ireland gears up for make or break emergency budget

UPDATE 3-Spain sacks economy chief as government struggles

Argentina Seeks $10 Billion Credit Line From Fed, Ambito Says

Ship Industry May Mothball Most Vessels Since 1970s, GAC Says

Quarter of companies globally set to freeze pay: survey

Almost half of French approve of locking up bosses

Why we're hemorrhaging jobs

[edit on 4/7/2009 by Hx3_1963]

posted on Apr, 7 2009 @ 02:50 PM

Citizens Financial parent RBS to cut 9,000 jobs

The Royal Bank of Scotland Group, parent of Citizens Financial Group, the second-largest banking operation in Massachusetts, said Tuesday it plans to cut up to 9,000 jobs over the next two years. The United Kingdom-based bank, in which the British government acquired a majority stake last fall, said it will achieve the job cuts through layoffs, natural turnover and leaving vacant positions unfilled. A Citizens spokeswoman declined comment Tuesday about the cuts. Citizens is the second-largest bank in Massachusetts, when ranked by deposits. RBS said the cuts will include 4,500 in the United Kingdom. The plan, which involves a number of other cost-saving initiatives, will help RBS reduce annual costs by roughly $3.7 billion within the next three years.

posted on Apr, 7 2009 @ 09:00 PM
TALF Loan Requests Drop 64% to $1.7 Billion in Second Round of Fed Program

Fed May Offer Longer-Term Loans for Purchase of Commercial Mortgage Assets

Consumer Credit in U.S. Falls $7.48 Billion as Recession Cripples Spending

Rising U.S. unemployment to hurt food sales: analyst

Goldman Sachs's Blankfein Urges U.S. to Resist Protectionism Amid Slowdown

Provopoulos Indicates ECB Might Reduce Rate Below 1%, Buy Corporate Debt

Finance Ministry May Sell 30-Year Bonds at 4.07% Yield Today, Survey Shows

Financial Crisis May Check Gold Sales in China This Year, Daily Reports

China's Plan to Aid Stricken Shipbuilders May Add to Shipping Lines' Pain

Rio Tinto Reiterates Commitment to Chinalco Investment After Stock Drops

Japan's Bonds May Advance for Second Day on Concern Bank Losses to Deepen

Japan Plans 37 Trillion Yen in Funding Support for Companies, Nikkei Says

Japan Current-Account Surplus Shrinks 56% as Demand for Exports Tumbles

Japan's TonenGeneral shuts 185,000 bpd CDU

Shanghai May Sell Real Estate Investment Trusts, Business Herald Reports

Thailand's Central Bank May Cut Rate to Spur Demand as Economy Contracts

East European Countries to Reject Go-It-Alone Euro Adoption, Analysts Say

World Bank Sees Ukraine Economy Slumping 9%, Compared With 4% Previously

Slovak Central Bank Says Economy Will Contract for First Time Since 1993

Moldovan Anti-Communist Protesters Storm Government Offices After Election

Europe's Recession Deepens More Than Estimated on Investment, Consumption

British Economy Shrinks 1.5% as Recession Resembles 1979, Institute Says

Ireland to Take Control of Toxic Property Loans as `Celtic Tiger' Falters

Air France-KLM's March Passenger Traffic Falls 9.4%; Load Factor Declines

German Government Said to Plan Takeover Bid for Hypo Real Estate This Week

Schaeffler, Seeking to Avoid Breakup, Gets 1 Billion-Euro Loan From Banks

More Than Half of Latin American Companies Have Funding Risk, Moody's Says

ALL America Drops as Morgan Stanley Forecasts `More Risks in Year Ahead'

Alberta forecasts record $4.7B deficit in budget

Alberta Offers Drillers Incentives as It Faces 52% Drop in Oil Royalties

UPDATE 1-Canada considers C$150 mln TV bailout fund -report

South Africa's Economy May Have Slipped Into First Recession in 17 Years

Gold May Reach Record as Inflation Hedge, Pass $1,000 `Easily,' GFMS Says

Silver Base shares down 11.6 pct in trading debut

METALS-Copper down, aluminium eases after Alcoa results

Alcoa sees weak 2009 aluminum demand

Airlines face losses as demand drops

Canada Boosts Insurance for Auto Parts Makers, Offers Consumer Warranties

Chrysler Lenders Support $1.5 Billion Federal Aid Effort for Parts Makers

New Citi Chair: Bankers Aren't "Villains"

Poll: 74% Support Higher Taxes On Rich

Reality TV Is Frugality TV

Smaller hams may grace Easter tables

Market bear Roubini sticks to dour forecasts

UPDATE 2-Solvency issue in developed, not emerging mkt-BlackRock

Electricity Grid in U.S. Penetrated by Spies

Negative returns plague 93% of quoted companies

[edit on 4/7/2009 by Hx3_1963]

posted on Apr, 8 2009 @ 01:02 AM
Headlines for April 8th 2009

Fed's Fisher says U.S. economy grim

Congressional Panel Suggests Firing Managers, Liquidating Banks

Danger lurks behind banks' results

Bank of America Needs to Raise $36.6 Billion in Capital, Oppenheimer Says

Lawmakers Seek to Calm TARP Spending Worries

Muni Bonds May Face Downgrade

Recession to Ease, but Industry Set to Crumble

UPDATE 1-U.S. wholesale inventories in record fall

GM readies for bankruptcy

WRAPUP 1-Germany, France suffer from global trade slump

UPDATE 2-Workers release managers at Scapa plant in France

Greece Teeters on the Verge of Bankruptcy

Moldova blames Romania after anti-government riots

PREVIEW-Canadian economy seen bleeding more jobs in March

Chrysler working around clock on Fiat alliance

Number of grown-up children returning to live with parents triples amid recession

[edit on 4/8/2009 by Hx3_1963]

posted on Apr, 8 2009 @ 02:42 AM
If you're having a hard time understanding how we got into a depression please visit this thread.

Dont Understand This Depression? Read This Thread.

posted on Apr, 8 2009 @ 01:18 PM
Recession slows some U.S. state income tax refunds

Recession to rage on

Fed sees economy sliding further

Regulators may not want TARP money back soon

Banks Holding Up in Tests, but May Still Need Aid

Banks aren't reselling many foreclosed homes

Rep. McCotter: Don't Let AIG-Backed Bondholders Profit From GM Bankruptcy


Barney Frank Declares War On Moody's

Analyst tells big banks to make money, or else

GM must restructure, bankruptcy or not: executive

GM's European sites under the gun

GM Pension Vow Seen as `Garbage' as Bankruptcy Might Wipe Out $16 Billion

CA Foreclosures About to Soar

Mayor Bloomberg says 7,000 city employees will be laid off; Albany hasn't helped city budget enough

Bloomberg says NYC must lay off thousands

Hawaii, suffering tourism drop, appeals to Obama

Anti-tax crusaders talk revolt

Jobs gone, couple ‘back at square one’

Japan Will Spend $150 Billion in Next Stimulus Package, LDP Lawmaker Says

Mizuho Is Under Pressure to Raise More Capital as Moody's Cuts Debt Rating

South Korea Sells $3 Billion of Global Bonds to Help Bolster Won Defense

Overdue Loans in Russia Are Rising 20% a Month, Sberbank Chief Gref Says

Timoshenko, IMF Group to Resume Talks on Second Part of $16.4 Billion Loan

Kazakhstan to Limit Currency Rates at Street Kiosks to Avert Run on Tenge

Latvia's Credit Rating Is Cut by Fitch to BB+ on Risks to Bailout Accord

Poland May Be Next After Mexico to Tap New IMF Credit Line, Barclays Says

Bank of England's King Contemplating Split of Bank-Roles, Times Reports

Lenihan Says Ireland Doesn't Need EU Bailout, Will Keep Cutting Spending

Peru Central Bank Cuts Lending Rate More Than Expected on Slumping Economy

Roubini Says Colombia Hard Hit by Financial Crisis, Faces `Difficult' 2009

Business Confidence in South Africa Drops to 7-Year Low as Exports Fall

House Prices in South Africa Fell in March, Extending Declines, Absa Says

South African Road Freight Strike, Threatening Fuel Supplies, Continues

Botswana Diamond Mines Sit Idle as Africa's Star Economy Loses Its Luster

[edit on 4/8/2009 by Hx3_1963]

posted on Apr, 8 2009 @ 09:10 PM

Wed 4-8-2009

Reno Gazette-Journal -33
Wolf Robotics -14
Wellesley -40
Peoria Unified School District -300
Bridgewater-Raynham Schools -70
Sarasota Schools -320
Gilbert AZ Schools -400
Scottsdale Schools -250
Greenheck Fan Corp. -37
MerCruiser -135
StandardAero -115
Vesuvius Steel Plant -4
NYC Mayor Calls for Cuts -7,000

Rome GA Super Kmart Store -80
Dean Health Systems -90
Russian Auto Maker GAZ -4,000
Vegas Chamber of Commerce -11
John Deere Iowa -160
Tucson Schools -605
No Severence: Farmland Workers -200
Checker Motors Closing -273
RTS Packaging Closing -50
Whirlpool Consolidates China Plants -600
Dawn Food Products Inc. -59
Baker and McKenzie Law Firm -124
Boston Mayor Proposes -565
Hampton Lumber Mills -85
City of Nampa ID -16
Raley's HQ Cutting Staff Hampton Affiliates -275

TOTAL - 15,776 est.

California Lost 42,000 Industrial Jobs

posted on Apr, 9 2009 @ 01:26 AM
Headlines for April 9th 2009

Las Vegas trophy project becomes symbol of trouble

Georgia braces for mass rallies against Saakashvili

Germany makes takeover offer for Hypo Real Estate

Laid-off U.S. workers finding new jobs, less pay

Car industry sells new vehicles more cheaply than second-hand

Food prices rise for fourth consecutive month

Care for the elderly is in crisis with more care homes being closed due to the recession

[edit on 4/9/2009 by Hx3_1963]

posted on Apr, 9 2009 @ 01:47 PM
UPDATE 1-IMF considers options on G20 SDR plan-spokeswoman

Summers-U.S. must protect dollar's status

Fed says plan now to avert inflation

Stern says credit strains could delay recovery

UPDATE 1-U.S. dealers submit no bids for Treasuries -NY Fed

Jobless claims ease, trade gap narrows sharply

Author who predicted crisis sees inflation ahead

JPMorgan cuts analysts, trims coverage - source

U.S. Treasury asking banks keep quiet on tests: source

No U.S. banks will close due to stress tests: source

U.S. banks line up to repay TARP money

UPDATE 1-PREVIEW-Life insurers in tough spot, may get Fed aid

Moody's strips Berkshire Hathaway of top rating

Goldman: Civil aerospace downturn may be "more severe"

Boeing warns on Q1 profit, to cut plane output

3M offers early exit to U.S. workers

J&J to eliminate 900 positions, mostly sales

Collapse of IBM deal could weaken Sun even more

Costco March same-store sales down

Colony Capital breaks off MGM Mirage talks: report

Canada's Harper says job losses "not good news"

WRAPUP 1-Canada job losses worst since 1982 recession

Berlin Hypo Real Estate offer blunts Flowers' power

ING to shed up to $10.6 billion of assets

Brazil selected for IMF's financial plan - source

Handling "bossnappings" poses dilemma for Sarkozy

Fiat bosses held by Belgian workers in jobs dispute

Rio mineral sale may be latest auction to go awry

Crowd Of 10,000 Overwhelms N.H. Job Fair

Modern-Day Tea Parties Give Taxpayers Chance to Scream for Better Representation

[edit on 4/9/2009 by Hx3_1963]

posted on Apr, 9 2009 @ 09:52 PM


Corcoran -18
Timbar Packaging and Display -70
APAC -72
Honeywell -40
ESAB -90
Manitowoc Plant -103
Ceco Closes Plant -120
Graphic Packaging International -30
Aavid Thermalloy -90
City of Paducah -14
3M Offers Buyouts to 3,600
Home Builder 120 - Employees Down to 4
Alliance Castings -394
Barnhardt Mfg. Co. Closing Plant -20
Andover Schools -55
Detroit May Close 20
Schools -600
Noble International Closing -13
LyondellBasell -3,000
Durham School Services -63
Power Marine Motor Sports Closing -20
DA-Tech Closing Plant -40
Ball Corp. Closing Plant -46
North Carolina State Govt. -700
Southwest Cement Co. -40
Country Coach -460
Ellsworth Hospital -14

TOTAL - 9,832 est

[edit on 9-4-2009 by spinkyboo]

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