Road to Depression

Double-dip Depression is coming to the euro zone!

NEW YORK - June 15, 2010 - The risk of a double-dip Depression is growing, especially in the euro zone, where restructuring Greece's debt is inevitable, famous economist Nouriel Roubini told CNBC Tuesday.

Moody's became the second major agency to cut Greece's debt ratings to "junk" late on Monday, as it admitted that the country does not face immed

Road to Depression

Once mighty U.S. auto union faces uncertain future!

DETROIT, Michigan - June 14, 2010 - Born out of the strife in the U.S. auto industry during the 1930s, the United Auto Workers union has long had a reputation for delivering fat contracts. Today UAW is staring at its own fading political power.

As the union prepares for its quadrennial convention Monday to select its next leaders, the UAW is confronted with questions over the stead

Road to Depression

Businesses collapse while claimants are still waiting for checks from BP!

GULF SHORES, Alabama - June 14, 2010 - Real estate agent Mike Reynolds had two desirable beachfront condos in escrow when the tide of crude from the Deepwater Horizon gusher washed over his business and left it looking about as appetizing as an oiled crab.

"I lost $20,000 in commission," Reynolds said. "The guy called and said he'd never be able to make any money off

Road to Depression

Fannie-Freddie fix could cost 1 trillion dollars!

NEW YORK (PNN) - June 13, 2010 - The cost of fixing Fannie Mae and Freddie Mac, the mortgage companies that last year bought or guaranteed three-quarters of all U.S. home loans, will be at least $160 billion and could grow to as much as $1 trillion after the biggest bailout (i.e. theft of the Amerikan taxpayer) in Amerikan history.

Road to Depression

Antidepressant use rises as Depression feeds wave of worry!

LONDON, England - June 11, 2010 - The number of antidepressants prescribed by the NHS has almost doubled in the last decade, and rose sharply last year as the Depression bit, figures reveal.

Road to Depression

Florida still third in foreclosures!

MIAMI, Florida - June 10, 2010 - Florida held onto to its ranking in May as the third worst state in the nation when it comes to foreclosures, according to a RealtyTrac report.

One in every 174 Florida properties received a foreclosure notice last month. Only Nevada and Arizona were worse.

But May’s foreclosure rate in Florida is higher than April’s when 1

Road to Depression

Economic advisor says markets are about to turn nasty!

NEW YORK - June 8, 2010 - Bond markets could get very nasty over the coming months, while stock investors could take a few months off and stop attempting to trade volatile swings in the markets, Anthony Fry, senior managing director at Evercore Partners, told CNBC Monday.

“The current problems will be with us for 5 years or more and uncertainty is very high," Fry said.READ MORE