Road to Depression

Underemployment falls to 18.9% in April!

PRINCETON, New Jersey - May 4, 2010 - More than 2 million Amerikans became fully employed in April, as Gallup's "underemployment" rate fell 1.4 points to 18.9% - the lowest level for this new measure since Gallup began tracking it in December 2009. While part of this improvement is the result of the normal pickup in hiring at this time of year - and the addition of temporary census wo

Road to Depression

China economy may crash within next year!

BEIJING, China - May 3, 2010 - Investor Marc Faber said China’s economy would slow and possibly crash within a year as declines in stock and commodity prices signal the nation’s property bubble is set to burst.

Road to Depression

Surviving the economic collapse!

NEW YORK - May 3, 2010 - Today, millions of Amerikans say that they believe that the United States is on the verge of a major economic collapse and will soon be entering another Great Depression. But only a small percentage of those same people are prepared for that to happen.

Road to Depression

FDIC regulators close seven more banks at high cost!

WASHINGTON - May 1, 2010 - Regulators on Friday shut down three banks in Puerto Rico, two in Missouri, and one each in Michigan and Washington state in a round of closings that brought the number of U.S. bank failures this year to 64 and reduced the federal deposit insurance fund by billions of dollars.

Road to Depression

More than a million Amerikans to lose jobless benefits!

NEW YORK - April 29, 2010 - Since the U.S. Depression began in December 2007, Congress has extended the length of unemployment benefits for the jobless three times. Now, the lawmakers may have reached their limit.

Road to Depression

Strategic mortgage defaults reach 12 percent of total!

NEW YORK - April 29, 2010 - Decisions by homeowners to walk away from mortgages they can afford are accounting for an increasing share of defaults, according to Morgan Stanley.

About 12% of all mortgage defaults in February were “strategic,” up from about 4% in the middle of 2007, New York-based Morgan Stanley analysts led by Vishwanath Tirupattur wrote in a repor

Road to Depression

Portugal may be next to fall in debt crisis!

LISBON, Portugal - April 28, 2010 - As markets looked for the next European domino to be toppled by Greece's debt crisis this week, all eyes turned to Portugal – a country that has become relatively poorer, in European terms, over the past decade. It was no comfort that neighbouring Spain also came under the spotlight today as the debt crisis threatened to engulf the eurozone's fourth lar