Patriot News Network

The following collection of articles by various authors are their opinions, inspiration and humor for your reading enjoyment.

Road to Depression

Former oil company president predicts $5-a-gallon gas in 2012!

NEW YORK - December 28, 2010 - The former president of Shell Oil said he believes Amerikans could be paying $5 for a gallon a gas by 2012.

"I'm predicting actually the worst outcome over the next two years which takes us to 2012 with higher gasoline prices," John Hofmeister said in a recent interview with Platts Energy Week television.

Road to Depression

U.S. companies hiring overseas at a rapid pace!

U.S. firms created 1.4 million jobs abroad in 2010, compared to less than 1 million at home.

NEW YORK - December 28, 2010 - Corporate profits are up. Stock prices are up. So why isn't anyone hiring?

Actually, many Amerikan companies are - just maybe not in your town. They're hiring overseas, where sales are surging and the pipeline of orders is fat.

Road to Depression

Copper surges to record as Chinese stockpiles decline!

NEW YORK - December 28, 2010 - Copper futures rose to a record in New York for a second straight day on speculation that supply will remain tight as demand in China and India continues to grow.

Road to Depression

Economist predicts either Amerika or China will crash in 2011!

NEW YORK - December 27, 2010 - Economist Andy Xie's latest sees the liquidity war getting worse in 2011.

Amerika will continue to pump the financial system with liquidity via tax cuts and quantitative easing. China will keep the yuan cheap and avoid clamping down on inflation.

The tense equilibrium can't last for long, as either sovereign debt or inflation gets too heavy t

Road to Depression

Nation’s poorest state spent over $500,000 on governor’s travel!

JACKSON, Mississippi - December 27, 2010 - Mississippi Governor Haley Barbour's use of the state's pricey jet plane has mixed state business with pleasure and national politics, according to a Politico review of the jet's flight log.

The poorest state in the nation has spent over $500,000 on the governor's air travel since 2007.

Road to Depression

Nearly 100 bailed-out banks may collapse!

NEW YORK - December 27, 2010 - The $700 billion bank bailout, launched in the final months of the Bush regime, was meant to save U.S. financial institutions from a systemic collapse. But an analysis of banks' earnings statements concludes that nearly 100 bailed-out banks are at risk of collapsing all the same.

Road to Depression

Major hedge fund manager fears second crisis if U.S. interest rates are kept low!

LONDON, England - December 26, 2010 - America is storing up a second financial crisis by keeping interest rates at record low levels, according to David Einhorn, the hedge fund manager who first publicly warned about the financial catastrophe facing Lehman Brothers.

"The crisis that required zero interest rates has passed," said Einhorn, who co-founded and runs Greenlight Capital, a