Road to Depression

Jobless claims rise unexpectedly!

WASHINGTON - February 18, 2010 - The number of newly laid-off workers filing applications for unemployment benefits unexpectedly surged last week after having fallen sharply in the previous week. The gain dampened hopes about how quickly the labor market may improve this year.

Road to Depression

AMBROSE EVANS-PRITCHARD: U.S. bank lending falls at fastest rate in history!

Bank lending in the U.S. has contracted so far this year at the fastest rate in recorded history, raising concerns that the Federal Reserve may have jumped the gun by withdrawing emergency stimulus.

By Ambrose Evans-Pritchard

LONDON, England - February17, 2010 - David Rosenberg from Gluskin Sheff said lending has

Road to Depression

Toyota to halt production at 2 plants!

WASHINGTON - February 16. 2010 - Toyota Motor Corp. plans to shut down production again at two U.S. plants as it copes with the fallout from a series of recalls, a company spokesman confirmed today.

Road to Depression

Commercial real estate losses could hit $300 billion!

NEW YORK - February 16, 2010 - Losses from defaults on commercial real estate loans maturing in the next few years could go as high as $300 billion, threatening to topple nearly 3,000 community banks nationwide, a federal watchdog group has concluded.

Road to Depression

Number of commercial property foreclosures surge!

DALLAS, Texas - February 16, 2010 - Foreclosure postings for several high-profile North Texas properties caused commercial real estate loan default filings to surge this month.

The properties scheduled for forced sale by lenders at next month's foreclosure auctions in Dallas-Fort Worth represent a total of more than $900 million in debt.

Road to Depression

Foreign demand for Treasury securities falls!

WASHINGTON - February 16, 2010 - The government said Tuesday that foreign demand for U.S. Treasury securities fell by the largest amount on record in December, with China reducing its holdings by $34.2 billion.

Road to Depression

To save money, Utah considers eliminating senior year of high school!

SALT LAKE CITY, Utah - February 15, 2010 - Imagine being forced to skip your senior year of high school. Or having the option. If you live in Utah, that could become a reality.

In an effort to bridge a $700 million budget shortfall, Republican state Senator Chris Buttars has put forth a plan to eliminate 12^th grade in high school, the Los Angeles Times repor