Road to Depression

Home sales crash to lowest level since 2008 as pricing reset gets underway!

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SAN FRANCISCO, Kalifornia (PNN) - November 18, 2016 - We have frequently written over the past couple of quarters about the bubbly San Francisco housing market that looks set for another epic reversal as home prices have reached staggering new highs just as employment levels seem to be rolling over. With home prices now implying that only 10-20% of residents can afford the “median” priced home, it's certainly not difficult to understand why demand may be waning.

The number of new businesses in the FPSA is collapsing!

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NEW YORK (PNN) - September 15, 2016 - Possibly the defining business trend coming out of the financial crisis has been a "startup boom". It seems everyone is building an app or starting his or her own business.

This image, however, may be just an illusion, according to Michelle Meyer, Fascist Police States of Amerika economist at Bank of America Merrill Lynch.

Retail sales growth tumbles to 6-month lows!

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NEW YORK (PNN) - September 15, 2016 - Year-over-year growth in retail sales rose just 1.9% (its weakest since March's plunge) and worryingly in historical recession territory. MoM data was disappointing across the entire spectrum with actual contractions versus expectations of gains (Core -0.1% vs +0.3% exp, and Control -0.1% vs +0.4% exp). While clothing and food services saw spending increases, a drop in gasoline spending along with a tumble in retailers down 2.4% MoM and sporting goods weighed the overall index down.

Tent cities full of homeless people are booming all over Amerika as poverty spikes!

on . Posted in Road to Depression

PORTLAND, Oregon (PNN) - September 13, 2016 - Just like during the last economic crisis, homeless encampments are popping up all over the nation as poverty grows at a very alarming rate. According to the Department of Housing and Urban Development, more than half a million people are homeless in Amerika right now, but that figure is increasing by the day; and it isn’t just adults that we are talking about. It has been reported that that the number of homeless children in this country has risen by 60% since the last recession, and Poverty USA says that a total of 1.6 million children slept either in a homeless shelter or in some other form of emergency housing at some point last year. The stock market may have been experiencing a temporary boom for the last couple of years, but for those on the low end of the economic scale things have just continued to deteriorate.

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