Road to Depression

Egyptians stock up on food and water as protests rage!

on .

CAIRO, Egypt - January 31, 2011 - After 24 years in Canada, Rafik and Leila Baladi moved back to Cairo two weeks ago to settle down.

Now, like many other residents of the Egyptian capital, they're stocking up on bottled water and essential foodstuffs as chaos engulfs this sprawling city of some 18 million.

Home prices sink further!

on .

NEW YORK - January 31, 2011 - Home values are falling at an accelerating rate in many cities across the United States.

The Wall Street Journal's
latest quarterly survey of housing-market conditions found that prices declined in all of the 28 major metropolitan areas tracked during the fourth quarter when compared to a year earlier.

More millionaires are defaulting on mortgages!

on .

Homeowners with loans of more than $1 million default more often than owners with loans worth less.

NEW YORK - January 30, 2011 - The RealtyTrac organization predicted earlier this month that home foreclosures in 2011 would likely exceed the record 3.8 million reported in 2010.

Food riots spur demand for U.S. exports!

on .

NEW YORK - January 27, 2011 - Wheat rose, capping the longest rally since November 2009, while corn and soybeans climbed as countries increase purchases from the U.S., the world’s biggest exporter, to cut food inflation and quell civil unrest.

Social Security fund slides into permanent deficit!

on .

WASHINGTON - January 27, 2011 - Social Security's finances are getting worse as the economy struggles to recover and millions of baby boomers stand at the brink of retirement.

New congressional projections show Social Security running deficits every year until its trust funds are eventually drained in about 2037.

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