Road to Depression

Sears to close 100-120 Kmart and Sears stores!

NEW YORK - December 27, 2011 - Sears Holdings Corp. plans to close 100-120 Sears and Kmart stores after poor sales during the holidays, the most crucial time of the year for retailers.

Road to Depression

Treasury plans for euro failure!

LONDON, England - December 26, 2011 - The government is considering plans to restrict the flow of money in and out of Britain to protect the economy in the event of a full-blown euro collapse.

The Treasury is working on contingency plans for the disintegration of the single currency, which include capital controls.

Road to Depression

French unemployment at 12-year high!

PARIS, France - December 26, 2011 - The number of jobless people in France hit a 12-year high in November in the latest sign the French job market is deteriorating ahead of the April-May presidential election.

Road to Depression

Spanish finance minister prepares for a Depression!

LONDON, England - December 26, 2011 - Spain's economy will shrink in the last quarter and faces a bleak outlook for the coming months, its new economy minister said on Monday, heightening fears of a worsening Depression.

Finance Minister Luis de Guindos dampened already gloomy expectations for the economy as the new conservative government got to work on its program of tough spending

Road to Depression

Global Depression could last several years!

MOSCOW, Russia - December 22, 2011 - President Dmitry Medvedev warned Thursday that a global economic Depression could last for several years and require Russia to step up efforts to improve its competitiveness.

Road to Depression

Cash-strapped U.S. Postal Service turns to deliveries at night!

NEW YORK - December 21, 2011 - You may have noticed someone lurking around your street after normal business hours. No need for alarm. It’s just your postal carrier.

The U.S. Postal Service is delivering mail after dark as a way to cut down on its debt. It’s something most people aren’t used to seeing, but it could soon be a common sight all over the area.

Road to Depression

Japan continues to be mired in Depression!

TOKYO, Japan - December 21, 2011 - The Bank of Japan said Wednesday that any “recovery” in the country “has paused” because of the slowing global economy, leaving its key rate unchanged at between zero and 0.1%.

“The pick-up in Japan’s economic activity has paused, mainly due to the effects of a slowdown in overseas economies and of the appreciation of the yen,” the cen