economy

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Big Strides in US Optimism, Poll Shows

Proportion who say country on right track doubles

(Newser) - American attitudes are showing signs of a turnaround in the 70 days since Barack Obama took the reins, a new ABC News/Washington Post poll reports. The percentage who say the country is headed in the right direction has more than doubled since the end of the Bush era—some 42%...

Uptick in Mass Murders Could Be Linked to Economy

(Newser) - The recent spate of shootings could point to a link between violence and the faltering US economy, the Christian Science Monitor reports. “Most of these mass killings are precipitated by some catastrophic loss, and when the economy goes south, there are simply more of these losses,” said criminologist...

Economic Hopes On the Rise: Poll

Past 2 weeks have seen steady rise in optimism

(Newser) - More Americans appear to have hope that the economy is finally back on track. Over the past two weeks, the percentage of Gallup responders who hold that the economy is getting better has continually increased. From Monday through Wednesday, that percentage—29%—was the highest it’s been since July...

'Professor in Chief' Stern on Recovery
'Professor in Chief' Stern on Recovery
ANALYSIS
Mar 25, 2009 5:49 AM CDT

'Professor in Chief' Stern on Recovery

Hammers budget as key to turnaround in prime-time presser

(Newser) - Last night's prime-time news conference showed Barack Obama at his most serious; tempering his trademark oratorical skills, he became a "placid and unsmiling professor in chief," write Peter Baker and Adam Nagourney in the New York Times. After the frenzy of the previous week, the president went out...

Obama: Budget Is Key to Economic Recovery

(Newser) - President Obama took to the primetime airwaves last night to make the case that his economic recovery plan is showing "signs of progress," the Washington Post reports. "We will recover from this recession," he asserted, emphasizing repeatedly that his budget is "inseparable" from that recovery,...

Obama Needs Help Selling Economic Plans

His team lacks common touch

(Newser) - The White House economic team is great on policy, but when it comes to reassuring the public, President Obama is on his own, Peter Nicholas and Peter Wallsten write in the LA Times. "The ability to communicate with average people was not what these people were chosen for,"...

Soaring Candy Sales Sweeten Hard Times

Confectioners' profits rise as people seek comfort

(Newser) - Tough times don’t seem to be trickling down to inexpensive candy shops, where adult customers are flocking for a sugar-coated escape from their troubles, the New York Times reports. “People may indulge themselves a little bit more when times are tough,” says an analyst. And indulge they...

Hey Paul Krugman, Your Country Needs You

Why aren't you in the administration?

(Newser) - The latest video to shake up YouTube is a song plea that critical columnist Paul Krugman join the Obama administration and fix the economy. "Hey Paul Krugman, where the hell are you, man? Why aren't you in the administration?" sings songwriter Jonathan Mann. "When I listen to you...

NASCAR Fights Empty Seats With Luxury Suites

(Newser) - With more and more empty seats lining NASCAR races these days, many tracks have decided to slash prices—but not the Texas Motor Speedway. Instead, it’s decided to tear down 21,000 seats and replace them with Nascar’s unique version of the luxury suite: The luxury motor-coach compound....

Noonan to Obama: Get Focused
 Noonan to Obama: Get Focused 
OPINION
Mar 20, 2009 9:19 AM CDT

Noonan to Obama: Get Focused

President has to stop bouncing around

(Newser) - There are two crises facing the new president, writes Peggy Noonan in the Wall Street Journal: the economy and the threat of terrorism. Either one would warrant near-obsessive focus, but President Obama can’t seem to zero in. “What strikes one is the weightlessness of the Obama administration, the...

Some Spending Hard to Trim in 'Guilt Economy'

Many shell out to ensure favorite businesses survive

(Newser) - Charitable contributions are down in a tough economy—but that may not mean people are feeling less philanthropic. Feeling too guilty to let the masseuse go under or a favorite shop die, many who can afford it are spending in an effort to help those around them, the Wall Street ...

New Jobless Claims Fall More Than Expected

But continuing claims at record high for 8th straight week

(Newser) - New jobless claims fell more than expected last week, but continuing claims set a new record for the eighth straight week and few economists expect the labor market to improve anytime soon. The Labor Department says the tally of initial requests for unemployment insurance dropped to a seasonally-adjusted 646,000...

'AIG Buck Stops With Me'
'AIG Buck 
Stops 
With Me' 

Mar 19, 2009 4:56 AM CDT

'AIG Buck Stops With Me'

'I'll take responsibility,' he tells Californians

(Newser) - President Obama began a two-day swing through California yesterday, again accepting blame for the AIG mess and urging Washington to stop its finger-pointing, the Wall Street Journal reports. “Washington is in a tizzy and everybody is pointing fingers at each other and saying it's their fault, the Democrats' fault,...

Stewart's Hit Job Won't Keep 'Clueless Pundits' Off TV

(Newser) - Jon Stewart’s takedown of Jim Cramer and CNBC is indicative of a real, if fleeting, sea change in our attitudes about the economy, Thomas Frank writes in the Wall Street Journal. “The applause Mr. Stewart has received for his j’accuse is the sound of the old order...

Brothel Battles Downturn with Flat-Rate Pass

Berlin club charges $90 for 'everything—ladies, drinks, and food'

(Newser) - A Berlin brothel is fighting world economic gloom with a special offer: a flat-rate, unlimited, all-access pass, Der Spiegel reports. For about $90, clients are free to get chummy with all the workers. Men can even bring their wives. “70 euros, that includes everything—ladies, drinks and food,”...

White House Zings Cheney: 'I Guess Rush Was Busy'

Spokesman hits back at ex-VP on economy, security

(Newser) - The Obama administration has no intention of sitting still and taking it from a grumpy Dick Cheney, who sounded complaints with the administration on CNN on Sunday. White House Press Secretary Robert Gibbs whacked right back at the former VP yesterday, reports the Washington Post: “I guess Rush Limbaugh...

Obama Will Hit Tonight Show Again

(Newser) - Barack Obama will appear on The Tonight Show with Jay Leno this Thursday during his tour of Southern California, the New York Times reports. Obama was a guest on Leno during the campaign, but sitting presidents rarely appear on late-night television. Aides say Obama will address issues related to the...

Hard Times Again Push Irish Youth Abroad

Flatlining economy makes US, Britain, Canada attractive

(Newser) - After two decades of boom, Ireland’s economy has faltered and Irish youth are once again looking to distant shores for opportunity, the Los Angeles Times reports. Experts predict up to a 7% contraction this year for an economy that posted double-digit gains not too long ago, and, like their...

Spend, Baby, Spend &mdash;or We're Sunk
 Spend, Baby, Spend 
 —or We're Sunk 

OPINION
Mar 15, 2009 6:38 PM CDT

Spend, Baby, Spend —or We're Sunk

(Newser) - Our massive economy will remain stuck until hoarders open their wallets and "roll the dice" once again, Daniel Gross writes in Newsweek. Investors and consumers alike must regain their "penchant for gain and risk... some of the essence of what makes us American." Until that caffeinated, delirious...

Retail Giants Likely to Shrink in '09

(Newser) - Retailers are fighting to survive in 2009, some more successfully than others. Some 73,000 stores could close their doors by year’s end. Forbes breaks down which chains are shrinking the fastest:
  • Ann Taylor: Catering to working women isn’t so great when unemployment’s at 8.1%. Expected
...

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