Road to Depression

Applications for unemployment aid stangnant!

WASHINGTON - October 13, 2011 - The number of people applying for unemployment benefits fell slightly last week, a sign the job market isn't getting much better.

Road to Depression

S&P downgrades Spain’s banking sector!

LONDON, England - October 11, 2011 - Standard & Poor’s Tuesday downgraded 10 Spanish banks by one notch, including giants Santander and BBVA, warning that the country’s banking sector will further deteriorate in the next 15 to 18 months.

Road to Depression

Streetlights removed over unpaid electric bills!

Thug cop seeks extortion payment to ensure store owner has protection.

HIGHLAND PARK, Michigan - October 11, 2011 - The majority of streetlights have been removed from one Michigan city that was having trouble paying its electricity bill.

DTE Energy Company has already repossessed 1,400 streetlights in Highland Park as a part of a deal to forgive $4 millio

Road to Depression

Dexia collapse puts European banks in crosshairs!

ROME, Italy - October 9, 2011 - The weakness of the European banking system came into focus over the weekend as the governments of France and Belgium agreed on a breakup plan for Dexia SA, a lender that had sailed through industry-wide stress tests three months ago only to become the first banking victim of the debt crisis.

Road to Depression

Signs of Depression: thieves steal entire bridge for scrap metal!

NORTH BEAVER, Pennsylvania - October 8, 2011 - As the value of scrap metal - including copper and steel - increases, thieves are becoming more daring and less respectful of institutions such as churches and schools.

Road to Depression

Moody’s cuts rating on 12 UK financial institutions!

LONDON, England - October 7, 2011 - Moody’s ratings agency lowered the rating of 12 UK financial institutions on Friday, saying it sees a decreased likelihood of government support for smaller institutions in particular but specifying the move does not reflect deterioration in the financial strength of the banking system.

Road to Depression

Fitch lowers Spain and Italy credit ratings!

NEW YORK - October 7, 2011 - Fitch on Friday cut Italy's sovereign credit rating by one notch, to A+ from AA-, saying the move reflected the worsening of the euro zone's debt crisis and an erosion of market confidence caused by the government's initially hesitant response to the rise in its bond yields.