Starbucks is starting to sell more coffee. Companies are once again finding buyers for their short-term debt. Money is beginning to flow back into emerging markets. Maybe this is not the second Great Depression after all.

The number of homeowners stung by the rout in the U.S. housing market jumped last month as foreclosure filings grew by more than 50 percent compared with June a year ago, according to data released Thursday.

The equity Americans have in their most important asset — their homes — has dropped to its lowest level since the end of World War II.

First the good news: The worst of the painful housing slump and the credit crunch might come to an end this year. Now the bad: The economy will weaken further and unemployment will rise.

When a Gallup Poll showed that 59% of Americans believe a full-fledged economic depression is “somewhat likely” within the next two years, WCCO News in Minneapolis sought out economics professor Raymond Robertson to ask, “Is this the recession that will become a depression?”

"You've got a consumer that clearly is under tremendous pressure," said Howard Schultz, now 12 weeks into his second stint as Starbucks CEO, on a visit to Time yesterday afternoon. "For the first time in our history as a company, we have negative traffic this year vs. last."

The tax rebates that are supposed to inject a stimulus into the U.S. economy, as I hope you realize, will only come to those who file taxes this year. And the IRS wants to make sure you know about it. So they've taken an unprecedented step. They have posted a video on YouTube (below) advertising it.

Around the country, mall retailers are starting to feel the recoil from a rapid expansion in recent years that allowed retailers to aim stores at almost every niche.