Road to Depression

AMBROSE EVANS-PRITCHARD: Europe's money markets freeze as crisis escalates!

By Ambrose Evans-Pritchard

LONDON, England - August 2, 2011 - The European money markets have begun to seize up as pressure mounts on the Italian and Spanish banking systems, tracking the pattern seen during the build-up towards the financial crisis in 2008.

Road to Depression

Amerikans cut spending for first time in 20 months!

WASHINGTON - August 2, 2011 - Amerikans cut back on their spending in June for the first time in nearly two years and their incomes grew by the smallest amount in nine months, a troubling sign for an economy that is barely growing.

Consumer spending dropped 0.2% in June, the Commerce Department said Tuesday. Some of the decline was caused by declining food and energy prices, which ha

Road to Depression

HSBC to eliminate 30,000 jobs all over the world!

LONDON, England - August 1, 2011 - High street bank HSBC is axing tens of thousands of jobs worldwide despite unveiling a multi-billion pound profit for the first six months of the year.

Road to Depression

Manufacturing growth hits lowest level in two years!

WASHINGTON (PNN) - August 1, 2011 - Manufacturers had their weakest growth in two years in July, a sign that the economy could further weaken this summer.

The Institute for Supply Management, a trade group of purchasing executives, said Monday that its index of manufacturing activity fell to 50.9% in July, from 55.3% in June. The reading was the lowest since July 2009 - one month aft

Road to Depression

Economy slowed sharply in first half of year!

WASHINGTON - July 29, 2011 - The U.S. economy expanded at meager 1.3% annual rate in the spring after scarcely growing at all in the first three months of the year, the Commerce Department said Friday.

The combined growth for the first six months of the year was the weakest since the recession ended two years ago. The government revised the January-March figures to show just 0.4% gro

Road to Depression

Container ship plunge signals U.S. slowdown!

NEW YORK - July 28, 2011 - Plunging rates for chartering container vessels that carry sneakers, furniture and flat-screen TVs may signal a U.S. consumer slowdown and losses for shipping lines in what is traditionally their busiest time of the year.

Road to Depression

Hay shortage stuns ranchers!

CELINA, Texas - July 27, 2011 - With 75% of the state suffering through an exceptional drought, ranchers have begun using words like “desperation” and “panic” when it comes to finding and affording hay to feed their livestock.