Rawstory.com | From the outside, Jerry Erwin's home in the northwestern US state of Oregon is a nondescript house with a manicured front lawn and little to differentiate it from those of his neighbors. But tucked away out of sight in his backyard are the signs of his preparations for doomsday, a ca...

 The Washington Times | The nation's debt leapt $166 billion in a single day last week, the third-largest increase in U.S. history, and it comes at a time when Congress is balking over higher spending and debt has become a key policy battleground. The one-day increase for June 30 totale...

cnbc.com | The Dow Jones Industrial Average is repeating a pattern that appeared just before markets fell during the Great Depression, Daryl Guppy, CEO at Guppytraders.com, told CNBC Monday. “Those who don’t remember history are doomed to repeat it…there was a head and shoulders pattern that develo...

shtfplan.com | Bob Chapman, of The International Forecaster, says it’s time to prepare for the worst, comparing our impending economic crisis to that which was experienced at the onset of 1348 and the following century and a half. Flashback to 1348: The Black Death is estimated to have killed 30...

NEW YORK (CNNMoney.com) -- It's tough out there -- no jobs, home values plummeting -- and Americans are reacting by heading to bankruptcy court. Bankruptcy filings surged 14% during the first half of 2010, according to the American Bankruptcy Institute. Filings totaled 770,117 through June, compare...

NEW YORK (AP) -- The number of buyers who signed contracts to purchase homes tumbled in May, a sign the housing recovery can't survive without government incentives. The National Association of Realtors said Thursday its seasonally adjusted index of sales agreements for previously occupied homes dr...

NEW YORK (Reuters) - Nearly one out of every three U.S. home sales in the first quarter was a foreclosure property as steep price discounts boosted demand for distressed real estate, RealtyTrac said in a new report on Wednesday. Foreclosure homes accounted for 31 percent of all residential sales in...

theeconomiccollapseblog.com | At times like these, it is hardly going out on a limb to say that we are headed for hard economic times.  In fact, it seems like almost everyone in the financial world is either declaring that a recession is coming or is busy preparing for one.  The truth...

theeconomiccollapseblog.com | This week headlines across the United States screamed that new home sales in the U.S. had declined to the lowest level since the U.S. government began keeping track in 1963.  But in the news stories covering this data in the mainstream media, they we...

latimes.com | The city of Maywood will lay off all city employees and begin contracting police services with the Los Angeles County Sheriff's Department effective July 1, officials said. In addition to contracting with the Sheriff's Department, the Maywood City Council voted unanimously Monday nigh...

yahoo.com | WASHINGTON – Sales of new homes collapsed in May, sinking 33 percent to the lowest level on record as potential buyers stopped shopping for homes once they could no longer receive government tax credits. The bleak report from the Commerce Department is the first sign of how the end of f...

usawatchdog.com | Last week, three stories acted as signposts for the direction of the U.S. Dollar value.  The first is about a letter President Obama sent to members of the G20 (Group of 20 major industrial countries) in advance of next weekend’s meeting in Canada.  The President’s l...

slttoday | CASA GRANDE, Ariz. — Fannie Mae and Freddie Mac took over a foreclosed home roughly every 90 seconds during the first three months of the year. They owned 163,828 houses at the end of March, a virtual city with more houses than Seattle. The mortgage finance companies, created by Congress ...

yahoo.com | Former Fed Chair Alan Greenspan has an op-ed in the WSJ arguing that the runaway Federal Deficit threatens to turn the US into the next Greece. He doesn't actually think that the US debt bears any credit risk, due to our ability to print at will, but that there is a substantial risk tha...

NEW YORK (CNNMoney.com) -- The Great Recession drove more families into homeless shelters in 2009, a new federal report has found. Some 170,000 families needed shelter last year, up from 159,000 in 2008, according to an annual survey from the Department of Housing and Urban Development. There were ...

BBC | Japan is at "risk of collapse" under its huge debt mountain, the country's new prime minister has said. Naoto Kan, in his first major speech since taking over, said Japan needed a financial restructuring to avert a Greece-style crisis. "Our country's outstanding public debt is huge... our pu...

thetrumpet.com | Greece announced on June 2 that it would begin selling off virtually all publicly-owned assets to shrink its budget deficit. In the midst of an economic crisis, the government couldn’t have chosen a worse time to sell—but there is little choice. If Greece wants the bailout money, se...

americanthinker.com | The Houston Chronicle reports that the Obama administration has ordered the Immigration and Customs Enforcement (ICE) department to implement multiple modifications to their facilities to make life easier, more comfortable, and pleasant for the hundreds of thousands of illegal ...

thecomingdepression.net | Carolyn Angelette said around 100 clients have canceled summer rentals in Grand Isle, LA. Other clients have postponed plans to buy a home until they see the full extent of oil damage. At this rate, she warns, her Century 21 office will go out of business.”   It is o...

theeconomiccollapseblog.com | Perhaps the greatest victims of the economic nightmare that is unfolding right in front of our eyes are our children.  The overall economic numbers are really bad, but when you examine the impact that this economy is having on children things get really h...