Indiadaily.com - Empire State Manufacturing index at -11.7 confirms US economic depression has reached the main streets- Dow headed below 10,000

Indiadaily.com - Empire State Manufacturing index at -11.7 confirms US economic depression has reached the main streets- Dow headed below 10,000: "The Federal Reserve Bank of New York said that its Empire State Manufacturing survey showed business conditions deteriorated markedly in February, with the index at -11.7, falling below zero for the first time since May 2005.

It is another confirmation of US economic depression. The economists and the politicians do not want to utter the D word. But now it is clear that the bubble bursting effect in financial leverage markets have reached the main street dragging the consumer and business confidence with it"