Saturday, August 21, 2010

Bankruptcies Soar!

By Reginald Kaigler

Okay, I some good news and a whole lot of bad news. Which would you like to know first? Let's start with the good news. Payrolls increased in 37 states lead week. My home state of Michigan added over 20,000 factory jobs and 7,000 other jobs. The bad news? Not only is the overall employment situation is worsening with 500,000 people applying for first-time unemployment last week, but bankruptcies are soaring. Between April and June, the U.S. had an additional 422,000 bankruptcy filings. That's an 11% increase over the levels during the same time period last year. While the stock struggles to stay afloat, a record number of Americans are dipping into their 401k because of financial hardship.

These are the real stories that the mainstream news media should be addressing, but they are too busy bickering out a mosque being built near ground zero. A week after BP claimed that most of the oil in the Gulf was cleaned up, scientists have discovered a 22 mile hydrocarbon plume drifting 3,000 feet under the surface. See, the crisis is not over. The mainstream media is actively distracting the American people from the truth. Foxnews, MSNBC and CNN are using a non-issue to culturally divide the American people with the hope that they will not notice what really matters.

Weekly Jobless Claims Post Surprise Jump, Hit 500,000

Payrolls Increase in 37 U.S. States, Led by Michigan

Fidelity sees record number raid their 401(k)s

Researchers say they saw 22-mile hydrocarbon plume in Gulf

96 million people in the United States who have no spouse.

Civilians to Take U.S. Lead as Military Leaves Iraq

Hundreds of millions in Katrina funds remain unspent

Nearly 50 percent leave Obama mortgage-aid program