Road to Depression

Obama blames economy for Democrat rout!

WASHINGTON - November 3, 2010 - Illegitimate President Barack Obama on Wednesday blamed the anemic economy for the "shellacking" his fellow Democrats experienced in this week's midterm elections, but he acknowledged his policies hadn't done enough to bring down high unemployment.

He claims his bogus regime has "stabilized" the economy and spurred private-sector hiring, "but people all ac

Road to Depression

Fed easing may mean substantial dollar drop!

NEW YORK - November 2, 2010 - The dollar is in danger of losing 20% of its value over the next few years if the Federal Reserve continues unconventional monetary easing, Bill Gross, the manager of the world's largest mutual fund, said on Monday.

"I think a 20% decline in the dollar is possible," Gross said, adding the pace of the currency's decline was also an important consideration for

Road to Depression

September consumer spending weak while incomes dip!

WASHINGTON - November 1, 2010 - Amerikans slowed their spending in September to the weakest pace in three months and their incomes fell for the first time in 14 months.

Personal spending rose at an annual rate of 0.2% in September, the Commerce Department said Monday. That's below the 0.5% gains recorded in July and August.

Road to Depression

Prepare for prolonged U.S. dollar devaluation!

NEW YORK - October 28, 2010 - Those nagging whispers warning that the United States is heading for an Argentina-like currency crisis are getting louder. The prospect of a prolonged devaluation of the U.S. dollar is just one more challenge in what has already been a difficult period for savers and investors. Have we really reached the point where the greenback is in danger of becoming an also-ra

Road to Depression

Unemployment offices to add armed guards!

INDIANAPOLIS, Indiana - October 27, 2010 - Armed security guards will be on hand at 36 unemployment offices around Indiana in what state officials said is a step to improve safety and make branch security more consistent.

No specific incidents prompted the action, Department of Workforce Development spokesman Marc Lotter told 6News' Norman Cox.

Road to Depression

Banks seize 288,000 homes in third quarter!

LOS ANGELES, Kalifornia - October 14, 2010 - Lenders seized more U.S. homes this summer than in any three-month stretch since the housing market began to bust in 2006. But many of the foreclosures may be challenged in court later because of allegations that banks evicted people without reading the documents.

Road to Depression

Applications for jobless benefits rise!

WASHINGTON - October 14, 2010 - Applications for jobless benefits rose last week for the first time in three weeks, evidence that companies are reluctant to hire in a slow economy.