Road to Depression

U.S. jobless claims remain above 400,000 for second week in a row!

NEW YORK - April 21, 2011 - The number of people claiming unemployment benefit stayed above 400,000 for the second week in a row, according to the latest U.S. Department of Labor figures.

Road to Depression

Gas prices could exceed $6 a gallon if dollar keeps getting weaker!

NEW YORK - April 21, 2011 - A dollar plumbing three-year lows is hitting Amerikans squarely in the gas tank, and one economist thinks it could drive prices as high as $6 a gallon or more by summertime, under the right conditions.

Road to Depression

Gold tops $1,500 an ounce for first time!

LONDON, England - April 20, 2011 - The price of gold topped $1,500 for the first time on Wednesday as a weaker dollar plus fears over high inflation and debt attracted investors into the traditional safe-haven precious metal.

Gold reached $1,505.65 an ounce at 09:45 GMT on the London Bullion Market. It later traded at $1,503.60.
Silver meanwhile hit a fresh 31-year high of $44.7

Road to Depression

GM stock lower amid report of impending government sale!

NEW YORK - April 20, 2011 - A report that the U.S. government plans to sell off much of its remaining stake in General Motors this year despite the firm's lackluster share price caused investors to flee the stock Tuesday.

After the Wall Street Journal reported a government sale could come within the next six months, GM's shares fell by nearly 1.3% to end at $29.59.

Road to Depression

Rating downgrade rocks U.S. economy!

WASHINGTON - April 19, 2011 - Ratings agency Standard & Poor's has cut the outlook on U.S. sovereign debt to "negative", raising doubts about Washington's ability to tackle its huge debt and fiscal deficits.

Road to Depression

Moody's downgrades all Irish banks to junk status!

LONDON, England - April 19, 2011 - Moody's cut the long-term bank deposit ratings of Ireland's government-guaranteed banks by two notches on Monday following a sovereign downgrade last week, meaning that all the lenders are now classified as junk.

Road to Depression

U.S. debt warning and Greek default fears rock markets!

LONDON, England - April 18, 2011 - Global stocks sank Monday after a leading credit ratings agency warned of a deteriorating U.S. financial position and investors fretted over a debt default by bailed-out Greece.

Though Standard & Poor's reaffirmed its triple A rating on the U.S., it downgraded its credit outlook to negative from stable, citing a "material risk" that policymakers won