Road to Depression

U.S. foreclosure filings may jump 20 percent in 2011!

NEW YORK - January 13, 2011 - The number of U.S. homes receiving a foreclosure filing will climb about 20% in 2011, reaching a peak for the housing crisis, as unemployment remains high and banks resume seizures after a slowdown, according to RealtyTrac, Inc..

“We will peak in foreclosures and probably bottom out in pricing, and that’s what we need to do in order to begin (a) reco

Road to Depression

Foreclosures filings set record in 2010!

NEW YORK - January 13, 2011 - The pace of foreclosures has slowed since revelations that thousands of foreclosure documents may have been improperly prepared, but for all 2010, almost 2.9 million U.S. properties received foreclosure filings, a record high, and up 2% from 2009.

Road to Depression

Higher energy and food costs lift wholesale prices!

WASHINGTON - January 13, 2011 - A spike in oil and food costs pushed wholesale prices up last month by the biggest amount in nearly a year, a trend that could threaten the still-fragile global economy.

The Producer Price Index, which measures price changes before they reach consumers, rose 1.1% in December, the Labor Department said Thursday. That was up from a 0.8% rise in November

Road to Depression

More people applied for jobless aid last week!

WASHINGTON - January 13, 2011 - More people applied for unemployment benefits last week after retailers shed temporary holiday employees.

Road to Depression

U.S. home price drops exceed Great Depression!

NEW YORK - January 11, 2011 - U.S. home prices fell for the 53rd consecutive month in November, taking the decline past that of the Great Depression for the first time in the prolonged housing slump, according to Zillow.

Home prices have fallen 26% since their peak in 2006, exceeding the 25.9% drop registered in the five years between 1928 and 1933, according to the housing data comp

Road to Depression

You're insane if you don't own gold!

LONDON, England - January 11, 2011 - Robin Griffiths, a technical strategist at Cazenove Capital, recently told CNBC, "I think not owning gold is a form of insanity. It may even show unhealthy masochistic tendencies, which might need medical attention."

Road to Depression

Unemployment rate declines due to people giving up on search!

NEW YORK - January 10, 2011 - Employers in the U.S. added fewer jobs than forecast in December, confirming Federal Reserve Chairman Ben S. Bernanke’s view that it will take years for the labor market to heal.