Lenders Initiate Foreclosures at Record Pace

The latest evidence to suggest that America is sinking under wave of debt:

Lenders launched foreclosure actions against more than one in every 200 U.S. mortgage borrowers in the fourth quarter of 2006, the biggest share of homes at the start of the repossession process on record.

Driven by subprime borrowers having trouble making payments, the proportion of mortgages in the initial stages of foreclosure was at the highest in the 37-year history of the Mortgage Bankers Association's National Delinquency Survey.

If that doesn't get your attention you might consider the cost of things going up:

Inflation at the wholesale level surged in February, pushed higher by a big jump in energy prices and the largest increase in food costs in more than three years.

Wholesale prices rose 1.3% last month, the biggest increase since November, the Labor Department reported Thursday. And even more worrisome, prices outside of the volatile food and energy sectors also showed a bigger-than expected increase of 0.4% last month. Toy prices rose at the fastest rate in more than two decades.