Road to Depression

Home construction falls while wholesale prices edge up!

on . Posted in Road to Depression

WASHINGTON - January 20, 2010 - The housing market remains a significant risk to the economy, data Wednesday showed, as bad weather across much of the country hammered the construction industry.

Also on Wednesday, the government said buyers will face higher fees and tougher standards for home loans backed by the Federal Housing Administration, a popular source of loans for first-time buyers.

Citigroup loss signals more trouble for commercial banks!

on . Posted in Road to Depression

NEW YORK - January 20, 2010 - Wall Street may be drawing attention for its rebounding profits, but not all big banks are rolling in dough.

On Tuesday, Citigroup posted a $7.6-billion loss for the last three months of 2009, the banking giant's first unprofitable quarter since 2008. Similar bad news is expected today when Bank of America, Inc., Wells Fargo & Co. and U.S. Bancorp report their earnings.

The United States of debt!

on . Posted in Road to Depression

Amerikan cities and states have piled on the debt in recent years. Who is headed for trouble?

NEW YORK - January 20, 2010 - Bankruptcy fears in Dubai and Greece roiled world credit markets in recent months as investors braced for the possibility of default. But United States governments have their own share of woes.

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