Road to Depression

Secret Walmart survey shows inflation already here!

NEW YORK - November 15, 2010 - There might not have been a second round of quantitative easing, if Federal Reserve Chairman Ben Bernanke shopped at Walmart.

A new pricing survey of products sold at the world’s largest retailer showed a 0.6% price increase in just the last two months, according to MKM Partners. At that rate, prices would be close to 4% higher a year from now, double

Road to Depression

AMBROSE EVANS-PRITCHARD: Europe stumbles blindly towards its 1931 moment!

By Ambrose Evans-Pritchard

LONDON, England - November 14, 2010 - It is the European Central Bank that should be printing money on a mass scale to purchase government debt, not the U.S. Federal Reserve.

Road to Depression

New report warns of unprecedented decline in home values!

NEW YORK - November 10, 2010 - Online real estate marketplace Zillow.com just released a devastating third quarter housing report. Basically every major indicator is crashing:

Road to Depression

Ireland's fate tied to doomed banks!

DUBLIN, Ireland - November 10, 2010 - With doubts swirling about the solvency of the Irish state in early September, Finance Minister Brian Lenihan summoned a dozen senior government and bank officials to a conference room nicknamed the "torture chamber," a nod to its history as a venue for painful meetings.

Road to Depression

Mortgage delinquencies edge up in third quarter!

NEW YORK - November 9, 2010 - The number of new foreclosure notices fell 5.5% but a slightly larger proportion of mortgages became delinquent in the third quarter of 2010, according to a New York Federal Reserve Bank survey released Monday.

About 2.7% of current mortgage balances fell into delinquency between June and September, compared to 2.6% in the second quarter, marking the first r

Road to Depression

Job openings drop for second straight month!

WASHINGTON - November 9, 2010 - Job openings dropped sharply in September, a sign that hiring is likely to remain weak over the next several months.

Road to Depression

Ambac files for bankruptcy under Chapter 11!

DES MOINES, Iowa - November 8, 2010 - Bond insurer Ambac Financial Group Inc. said Monday that it has filed for Chapter 11 bankruptcy protection after it failed to raise additional capital.