Road to Depression

New home sales fall in December!

LOS ANGELES, Kalifornia - January 27, 2010 - Sales of new U.S. homes declined 7.6% in December, the government said this morning.

Road to Depression

Verizon to cut 13,000 jobs!

NEW YORK - January 26, 2010 - Verizon Communications Inc., coping with subscriber losses at its fixed-line phone business, plans to cut about 13,000 jobs at the division this year after posting fourth-quarter revenue that missed analysts’ estimates.

Road to Depression

Escalating pension crisis will bankrupt major city!

SAN DIEGO, Kalifornia - January 25, 2010 - The pension crisis is affecting budgets in city after city and in ever-increasing amounts. Please consider the latest in San Diego: Millions needed for city pensions.

Road to Depression

Massive housing complexes go to creditors!

NEW YORK - January 25, 2010 - The financially troubled owners of two massive apartment complexes that sold for a record $5.4 billion a few years ago said Monday they're turning them over to their creditors.

Road to Depression

Federal deficit projected at 1.35 trillion dollars!

WASHINGTON (PNN) - January 25, 2010 - The latest estimates out Tuesday from the Congressional Budget Office predict a $1.35 trillion deficit for this year as the Second Depression continues for the economy.

Road to Depression

Wal-Mart to cut 11,200 jobs at Sam's Club!

NEW YORK - January 24, 2010 - Wal-Mart Stores, Inc. said Sunday it is cutting about 11,200 jobs at its Sam's Club warehouse division as it outsources in-store product sampling to marketing company Shopper Events in an effort to win more customers and boost lagging sales.

Road to Depression

FDIC closes five more banks in five States!

WASHINGTON, Jan. 23, 2010 - Regulators shut down banks Friday in Florida, Missouri, New Mexico, Oregon and Washington, bringing to nine the number of bank failures so far in 2010, following 140 closures last year in the toughest economic environment since the Great Depression.