Dow Repeats Great Depression Pattern – CNBC

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. Unemployed men queuing for coffee and bread at a soup kitchen run by the Bahai Fellowship at 203 East 9th Street, New York, circa 1930. “Those who don’t remember history are doomed to repeat it…there was a head and shoulders pattern that...

Stock Market Dives Nearly 1000 Points, Fear of Gre...

In one of the most dizzying half-hours in stock market history, the Dow plunged nearly 1,000 points on worries about the spreading European debt crisis before paring those losses in an equally rapid rebound. The apparent trigger for the massive selloff, which began shortly after 2 pm ET, was the approval of austerity measures by the Greek Parliament, which sparked renewed rioting in Athens. “There is simply a growing...

33 States Out of Money to Fund Unemployment Benefi...

With unemployment still at a severe high, a majority of states have drained their jobless benefit funds, forcing them to borrow billions from the federal government to help out-of-work Americans. A total of 33 states and the Virgin Islands have depleted their funds and borrowed more than $38.7 billion to provide a safety net, according to a report released Thursday by the National Employment Law Project. Four others are at...

Fox News Poll: 79% Say U.S. Economy Could Collapse

Most American voters believe it’s possible the nation’s economy could collapse, and majorities don’t think elected officials in Washington have ideas for fixing it.The latest Fox News poll finds that 79 percent of voters think it’s possible the economy could collapse, including large majorities of Democrats 72 percent, Republicans 84 percent and independents 80 percent. Just 18 percent think the economy is “so...

Debt Dynamite Dominoes: The Coming Financial Catas...

In October 2008, the mainstream media and politicians of the Western world were warning of an impending depression if actions were not taken to quickly prevent this. The problem was that this crisis had been a long-time coming, and what’s worse, is that the actions governments took did not address any of the core, systemic issues and problems with the global economy; they merely set out to save the banking industry from...