Road to Depression

Market professionals anticipate another major crash is on the way!

NEW YORK - June 22, 2010 - The May 6 "flash crash" may be history, but its after-effects - and threat to the stock market - continue to loom large after two recent mini-crashes in individual stocks.

Road to Depression

Kalifornia on verge of total collapse!

SACRAMENTO, Kalifornia (PNN) - June 22, 2010 - Think of it as Greece on the Pacific: A place with beautiful scenery where the government spent so far beyond its means that mass layoffs, welfare reductions that leave a million children and the poor and elderly without needed services, and failing infrastructure, are now the norm.

Road to Depression

Bank failure pace more than double last year!

WASHINGTON - June 21, 2010 - Regulators on Friday shut down a Nevada bank, raising to 83 the number of U.S. bank failures this year.

The 83 closures so far this year is more than double the pace set in all of 2009, which was itself a brisk year for shutdowns. By this time last year, regulators had closed 40 banks. The pace has accelerated as banks' losses mount on loans made for co

Road to Depression

New jobless claims up sharply as layoffs persist!

WASHINGTON (PNN) - June 17, 2010 - The number of people filing new claims for jobless benefits jumped last week after three straight declines, another sign that the pace of layoffs has not slowed.

Road to Depression

Home construction sinks and building permits are down!

WASHINGTON - June 16, 2010 - Home construction plunged last month to the lowest level since December as builders scaled back without a federal tax credit to lure buyers. Building permits also fell, a sign the construction industry isn't fueling an economic recovery.

Road to Depression

Economy may never recover from banking crisis!

LONDON, England - June 15, 2010 - The economy, more damaged by the banking crisis than previously admitted, will grow more weakly and may never fully recover, the new Office for Budget Responsibility (OBR) said yesterday.

Road to Depression

Food prices to rise by up to 40% over next decade!

LONDON, England - June 15, 2010 - Food prices are set to rise as much as 40% over the coming decade amid growing demand from emerging markets and for biofuel production, according to a United Nations report today which warns of rising hunger and food insecurity.