A home sale sign in Stockton, California, the United States, February 7, 2012 The city of Stockton in the US state of California is set to become the largest American city ever to declare bankruptcy as the financial troubles of the US deepen. A formal bankruptcy filing may come as early as Wednesday following the failure of negotiations between Stockton’s officials and creditors. The northern... 

Eurozone finance ministers talk while attending a Eurogroup meeting at the European Union council headquarters, Brussels, February 20, 2012. Eurozone finance ministers have agreed to provide Greece with a new bailout package to help the heavily indebted country stabilize its debt-to-GDP ratio and avert looming bankruptcy. The long-awaited package worth 130 billion euros was sealed in Brussels on Tuesday... 

US Republican presidential hopeful Ron Paul making a speech during one of his campaign stops for the US presidential race, Tuesday 31 Jan. 2012. US Republican presidential hopeful Ron Paul has criticized America’s ‘unwinnable, undeclared’ wars overseas, which have led to the nation’s ‘bankruptcy.’ “In the last 10 years fighting these unwinnable, undeclared wars... 

Launch: A Tomahawk cruise missile is fired at Libyan defences from the the deck of the destroyer USS Barry on the first day of Operation Odyssey Dawn. A senior Federal Reserve official warned today that America is going broke as fears grow the Libyan bombardment could cost more than $1 billion. With the U.S. now fighting three wars, the massive new military drain on the budget could not have come at... 

Future for America Harrisburg, Pennsylvania, the capital of the sixth-largest U.S. state by population, should skip a $2.2 million debt service payment due Feb. 1 and consider bankruptcy, City Controller Dan Miller said. Harrisburg faces $68 million in payments this year in connection with a waste-to-energy incinerator and should weigh Chapter 9 protection from creditors or state oversight through... 

Vice President Joe Biden told people attending an AARP town hall meeting that unless the Democrat-supported health care plan becomes law the nation will go bankrupt and that the only way to avoid that fate is for the government to spend more money. “And folks look, AARP knows and the people with me here today know, the president knows, and I know, that the status quo is simply not acceptable,”... 

Some banks and businesses in California are refusing to honor the recently-issued California IOUs. One news article reports: “Apparently, IOUs issued by an insolvent state aren’t as good as cold, hard cash. Last week, after state leaders failed to find a solution to an ongoing budget crisis, California began issuing IOUs to banks and other creditors. Now, despite initially agreeing to accept the... 

Illegals pouring over the boarder for free health care and education are burgeoning California’s already bankrupt economy. Will it spread to the rest of the country?  Read More »

It must be said, that like the breaking of a great dam, the American descent into Marxism is happening with breathtaking speed, against the backdrop of a passive, hapless sheeple, excuse me dear reader, I meant people. True, the situation has been well prepared on and off for the past century, especially the past twenty years. The initial testing grounds was conducted upon our Holy Russia and a bloody... 

General Motors Corp. has pulled together many of the pieces needed to complete government-ordered restructuring, but its board still is likely to decide Saturday to head into bankruptcy protection because there’s too much left to do. Word of the board’s decision, which would be made during two days of meetings, may not be known until Monday, when GM is expected to actually file for bankruptcy... 

by James Buchanan A recent Reuters article reports “The U.S. recession is set to end ’soon,’ but continued job losses and plunging house prices point to an economic recovery that will be more moderate than those experienced in previous downturns, a survey showed. The survey of 45 professional forecasters released by the National Association of Business Economists (NABE) on Wednesday found almost... 

The left-wing media empire of Israel “Izzy” Asper, which dominates Canadian media, is facing bankruptcy. Israel Asper served as the leader of the Canadian Liberal Party in Manitoba in the 70’s and served in the Manitoba Legislature from 72-75. The media empire he founded, CanWest, is often cited as one of the worst examples of centralized media ownership in the Western World. Aspers three children,... 

America must work on starting a new economy and not restarting the old one or it will resemble the former Soviet Union, says author and blogger Dmitry Orlov.  Read More »

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Has anyone ever thought about us just making Mexico the 51st state? It would be lot easier. You think the war in Iraq is costing US too much? Read on.. Boy, was I confused. I have been hammered with the propaganda that it is the Iraq war on terror that is bankrupting us. I now find that to be RIDICULOUS. I hope the following 14 reasons are forwarded over and over again until they are read so many...