Tuesday, June 14, 2011
CNBC
It's official: The housing crisis that began in 2006 and has recently entered a double dip is now worse than the Great Depression.
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Prices have fallen some 33 percent since the market began its collapse, greater than the 31 percent fall that began in the late 1920s and culminated in the early 1930s, according to Case-Shiller data.
The news comes as the Federal Reserve considers whether the economy has regained enough strength to stand on its own and as unemployment remains at a still-elevated 9.1 percent, throwing into question whether the recovery is real.It's official: The housing crisis that began in 2006 and has recently entered a double dip is now worse than the Great Depression.
Prices have fallen some 33 percent since the market began its collapse, greater than the 31 percent fall that began in the late 1920s and culminated in the early 1930s, according to Case-Shiller data...[Full Article]
Labels: depression, economy, housing
Saturday, November 6, 2010
The recession may be over, but the number of Americans using food stamps continues to soar, up 17 percent over year ago levels, according to a report posted on The Wall Street Journal's website.
A stunning 42,389,619 now use food stamps, up 58.5 percent from August 2007, according to U.S. Department of Agriculture data from August cited in the story.
That means nearly 14 percent of American households are still relying on government assistance to buy food as the economy continues to batter families. The total was up 1.3 percent from July...
[Full Article]Labels: depression, economic collapse, economy, food stamps, poverty, recession
Monday, February 1, 2010
The Federal Reserve is Worsening the Depression
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