Road to Depression

Unemployment has not peaked yet!

SACRAMENTO, Kalifornia - April 17, 2010 - Despite the fact that Kalifornia's economy created net new jobs In March, the unemployment rate continued to rise. That's because those who had completely lost hope and dropped out of the unemployment figures (they weren't actively looking for work), are now coming back to sniff around for jobs.

Road to Depression

Unemployment likely to remain high for two more years!

WASHINGTON (PNN) - April 15, 2010 - Economic recovery will do little to bring down unemployment rates in Europe, the United States and other developed countries for nearly two more years, the International Monetary Fund projected Wednesday in a report that highlighted the lingering challenges of the worst Depression in decades.

Road to Depression

Foreclosure rates surge with biggest jump in 5 years!

LOS ANGELES, Kalifornia - April 15, 2010 - A record number of U.S. homes were lost to foreclosure in the first three months of this year, a sign banks are starting to wade through the backlog of troubled home loans at a faster pace, according to a new report.

Road to Depression

Jobless claims rise for second straight week!

WASHINGTON - April 15, 2010 - The number of newly laid off people signing up for unemployment benefits rose sharply for the second straight week, suggesting that jobs are still hard to come by even while propagandists tell us that the economic recovery is gaining traction.

Road to Depression

Households still squeezed despite low inflation!

WASHINGTON - April 14, 2010 - The Depression has caused inflation to all but melt away. The problem is that the same severe downturn has also translated into weak income growth.

Economists say it is no wonder that consumer confidence is at such low levels. Amerikans' pocketbooks are being squeezed, even though inflation remains a no-show in many ways.

For that reason,

Road to Depression

Stocks fall and Treasuries rise on depressing Alcoa sales report!

NEW YORK (PNN) - April 13, 2010 - Stocks fell and Treasuries rose as disappointing sales at Alcoa Inc. and UBS AG’s downgrade of regional U.S. banks displayed one more example that the Depression is going strong and there is no economic recovery, despite what the propagandists would have people believe.

Road to Depression

Senate panel finds major fraud at Washington Mutual!

WASHINGTON - April 13, 2010 - The mortgage lending operations of Washington Mutual, the biggest U.S. bank ever to fail, were threaded through with fraud and the bank's own inquiries were unable to stop the deceptive practices, according to a report by Senate investigators.