Road to Depression

College loan default rates rise as Depression takes a toll!

NEW YORK - September 14, 2010 - The number of college students who defaulted on their federal student loans climbed in the fiscal year that ended in September 2008, according to new government data released Monday.

Once again, those who attend for-profit colleges and universities were the most likely to default.

Road to Depression

Stocks and gold gain on Fed bond purchase speculation!

NEW YORK - September 14, 2010 - Stocks rose for a fifth day, the longest streak for the Standard & Poor’s 500 Index since July, while gold surged to a record and Treasuries gained on speculation the Federal Reserve will purchase as much as $1 trillion in bonds to bolster the economy.

Road to Depression

AMBROSE EVANS-PRITCHARD: IMF fears social explosion from world jobs crisis!

By Ambrose Evans-Pritchard

LONDON, England - September 13, 2010 - America and Europe face the worst jobs crisis since the 1930s and risk "an explosion of social unrest" unless they tread carefully, the International Monetary Fund has warned.

"The labor market is in dire straits. The Great Recession has left behind a wasteland of unemployment," said

Road to Depression

Doomsday warnings of economic apocalypse gain ground!

WASHINGTON - September 13, 2010 - Economists peddling dire warnings that the world's number one economy is on the brink of collapse, amid high rates of unemployment and a spiraling public deficit, are flourishing here.

The guru of this doomsday line of thinking may be economist Nouriel Roubini, thrust into the forefront after predicting the chaos wrought by the subprime mortgage cr

Road to Depression

Currency wars set to break out as volatility grows!

SYDNEY, Australia - September 13, 2010 - Get set for an outbreak of currency wars with the potential to shake global confidence as markets move towards the volatile October period.

Road to Depression

Obama adviser says jobless rate likely to remain high!

WASHINGTON - September 12, 2010 - The new chairman of illegitimate President Barack Obama's Council of Economic Advisers says Amerikans can expect to see the high unemployment rate continue for some time.

Road to Depression

Government uses estimates to establish current labor statistics!

WASHINGTON - September 9, 2010 - The Bureau of Labor Statistics has announced that as a result of the Labor Day weekend, the District of Columbia and eight states, including Kalifornia, did not report initial claims data, so the government had to estimate what the data would have been in those states.