Road to Depression

Retail expectations low for holiday season!

WASHINGTON - November 24, 2009 - Unemployment and tight credit have sapped shoppers' willingness and ability to spend freely as retailers enter their crucial holiday season. Additionally, Amerikans are expected to grow more cautious about spending next year.

Road to Depression

U.S. growth downgrade weighs on world markets!

NEW YORK - November 24, 2009 - European and U.S. stock markets fell Tuesday after government figures showed the U.S. economy did not grow as fast in the third quarter as previously estimated, stoking fears that the recovery in the world's largest economy will be slow.

Road to Depression

Early data suggest suicides are rising!

NEW YORK - November 23, 2009 - Early signs suggest the number of suicides in the U.S. crept up during the worst Depression in decades, according to a Wall Street Journal survey of states that account for about 40% of the U.S. population.

Road to Depression

Gold hits another record!

LONDON, England - November 23, 2009 - Gold prices extended gains in Europe on Monday to hit record highs at $1,170.55 an ounce as the dollar slipped further, boosting interest in the precious metal as an alternative asset.

Road to Depression

Actual jobless rate at 17.5%!

NEW YORK - November 23, 2009 - As we continue to travel along the Road to Depression, one figure looms large but is often overlooked: nearly 1 in 5 Amerikans is either out of work or underemployed.

Road to Depression

Wave of debt payments facing U.S. government!

WASHINGTON - November 22, 2009 - The United States government is financing its more than trillion-dollar-a-year borrowing with debt notes on terms that seem too good to be true.

But that happy situation, aided by ultra low interest rates, may not last much longer.

Road to Depression

Closed Florida bank makes 124 failures this year!

WASHINGTON - November 21, 2009 - Florida banking regulators on Friday shut down Commerce Bank of Southwest Florida, marking the 124th U.S. bank to succumb this year to the struggling economy and rising loan defaults.