Road to Depression

AMBROSE EVANS-PRITCHARD: IMF admits that the West is stuck in near Depression!

By Ambrose Evans-Pritchard

LONDON, England - October 3, 2010 - If you strip away the political correctness, Chapter Three of the IMF's World Economic Outlook more or less condemns southern Europe to death by slow suffocation and leaves little doubt that fiscal tightening will trap north Europe, Britain and America in a slump for a long time.

Road to Depression

Las Vegas faces deepest slide since 1940s!

LAS VEGAS, Nevada - October 2, 2010 - There are many cities across the country that have deluded themselves into believing they are beginning to see the first glimpses of the end of the Depression.

Las Vegas is not one of them.

Road to Depression

More families and friends move in together!

September 30, 2010 - The Grundy family seemed to be headed down the conventional path followed by Amerikan families: Daughter goes to college, graduates, gets a job and her own apartment.

Road to Depression

States poised to be next credit crisis!

NEW YORK - September 30, 2010 - Crippling debts and deficits are about to make individual states the next casualty of the credit crisis, analyst Meredith Whitney told CNBC.

Speaking as her firm, Meredith Whitney Advisory Group, just released a lengthy report on the state of the states, the noted financial analyst compared the looming explosion to the collapse of the financial syste

Road to Depression

U.S. mortgage demand down despite record low rates!

NEW YORK - September 29, 2010 - U.S. mortgage applications fell for a fourth straight week, reflecting the inability of many homeowners to take advantage of record low interest rates, data from an industry group showed on Wednesday.

Road to Depression

Are we heading for a replay of 1930s?

LONDON, England - September 29, 2010 - "We are in the midst of an international currency war", Guido Mantega, Brazil's finance minister, declared this week. There's no quarrelling with the analysis. Around the globe, countries are engaged in deliberate policy action to weaken their currencies and thereby gain competitive advantage in trade.

Brazil is piggie in the middle;

Road to Depression

Household income plunged in 2009!

WASHINGTON - September 28, 2010 - Household incomes shrank for the second year in a row in 2009, as the Depression eroded the share of Amerikan families’ earnings by over $100,000 and swelled the ranks of people who are poor or just barely making it, according to census statistics released Tuesday.

The income estimates from the American Community Survey, a wide array of censu