Road to Depression

Iran threatens U.S. ships and alarms oil markets!

TEHERAN, Iran (PNN) - January 4, 2012 - Iran escalated its war of words with the United States on Tuesday with a warning to Navy ships to stay out of the strategic Strait of Hormuz, remarks that rattled commodities markets and helped send oil prices soaring.

The latest in a series of provocative statements by Iranian leaders was delivered by the Iranian armed forces commander, Gen. A

Road to Depression

U.S. closes 2011 with record $15.22 trillion in debt!

WASHINGTON - January 3, 2012 - While not news to Zero Hedge readers who knew about the final debt settlement of U.S. debt about 10 days ahead of schedule, it is now official: according to the U.S. Treasury, the federal government closed the books on 2011 with debt at an all time record $15,222,940,045,451.09.

Road to Depression

Greeks and Italians burying cash as crisis fears grow!

ATHENS/MILAN - January 3, 2012 - Greeks and Italians are taking their money and running, moving it abroad, or even burying it underground for fear the euro zone crisis will topple banks and wipe out what remains of their savings.

Bankers in Greece say worries about the resilience of local banks, coupled with a rise in burglaries, has helped trigger a surge in demand for safe deposit

Road to Depression

Euro will lose at least one country in 2012 as breakup begins!

LONDON, England (PNN) - January 2, 2012 - At least one country will pull out of the euro this year as the breakup of the single currency begins, according to the Center for Economics and Business Research.

Road to Depression

AMBROSE EVANS-PRITCHARD: 2012 could be the year Germany lets the euro die!

By Ambrose Evans-Pritchard

LONDON, England - January 2, 2012 - So we enter Year IV of the Long Slump, the cruelest yet though not the most acute.

There will be no Chinese credit explosion this time, no real help from post-bubble India or overstretched Brazil.

Road to Depression

U.S. and Europe woes hit China manufacturing!

BEIJING, China - December 30, 2011 - China’s manufacturing activity continued to shrink in December, HSBC said Friday, as economic strife in the key European and U.S. markets hobbled demand for the nation’s goods.

The final HSBC purchasing managers’ index (PMI) reached 48.7 in December, slightly better than the 47.7 in November but lower than preliminary PMI of 49 released earl

Road to Depression

Gold outpaces stocks and bonds for second straight year!

NEW YORK - December 29, 2011 - Gold is poised to complete its 11th consecutive annual gain, the longest winning streak in at least nine decades, on the brink of a bear market.

George Soros, the billionaire who two years ago called it the “ultimate asset bubble,” cut 99% of his holdings in the first quarter, Securities and Exchange Commission data show.