Remember the good old days of the Carter presidency? Most of us back then thought it could never get any worse. Boy, were we ever wrong! We are indeed living in historic times.

LOS ANGELES (AP) — Banks have stepped up their actions against homeowners who have fallen behind on their mortgage payments, setting the stage for a fresh wave of foreclosures.

The number of U.S. homes that received an initial default notice — the first step in the foreclosure process — jumped 33 percent in August from July, foreclosure listing firm RealtyTrac Inc. said Thursday.

Want the Obama Depression to continue? All you have to do is vote for him next year!