Road to Depression

Some jobs will never return!

NEW YORK - January 12, 2010 - Even when the U.S. labor market finally starts adding more workers than it loses, many of the unemployed will find that the types of jobs they once had simply don't exist anymore.

Road to Depression

AMBROSE EVANS-PRITCHARD: America slides deeper into Depression as Wall Street revels!

December was the worst month for US unemployment since the Great Recession began.

By Ambrose Evans-Pritchard

LONDON, England - January 10, 2010 - The labor force contracted by 661,000. This did not show up in the headline jobless rate because so many Americans dropped out of the system. The broad U6 category of u

Road to Depression

Mortgage delinquencies up at Fannie Mae and Freddie Mac!

WASHINGTON - January 9, 2010 - Delinquent home loans at government-controlled mortgage finance giants Fannie Mae and Freddie Mac surged 20% from July through September, according to a new report by the companies' regulator, the Federal Housing Finance Agency.

Road to Depression

Sharp drop in temperatures could spike food prices!

NEW YORK - January 8, 2010 - From produce to meat, juice to bread… the sharp drop in temperatures blanketing most of the United States could add up to a spike in prices at the grocery store.

Road to Depression

Number of new jobless claims increase!

WASHINGTON - January 7, 2010 - New claims for U.S. jobless benefits edged up by 1,000 in the past week to 434,000,while other claims data showed modest improvement in the troubled labor market, official figures showed Thursday.

Road to Depression

Banks considering cuts in principal for distressed mortgages!

NEW YORK - January 7, 2010 - Efforts by U.S. banks to help distressed homeowners have focused mainly on temporary fixes such as interest-rate reductions that may only put off the day of reckoning, despite policy makers wanting them to do more.

Road to Depression

South Florida has over $12 billion in troubled commercial real estate!

MIAMI, Florida - January 6, 2010 - A report released Wednesday by Real Capital Analytics found that South Florida has about $12.4 billion in troubled commercial real estate, with most of it headed over to lenders.