recession

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Housing Prices Hit New Recession Low

And there's no bottom in sight

(Newser) - The housing industry keeps finding new lows: Today's Case-Shiller price index shows that prices fell in the first quarter to the lowest levels since the crash began, reports the Wall Street Journal . The drop of 4.2%, on top of last quarter's 3.6% drop, is evidence of...

Quake Sent Japan Back Into Recession

Exports, domestic spending hit hard by disasters

(Newser) - More misery for Japan: The triple disasters that struck the country in March sent the country's economy sliding into its second recession in three years, according to the latest government figures. The earthquake, tsunami, and nuclear crisis disrupted production and caused a collapse in consumer spending, reports the BBC...

Feds Hit Debt Limit Today
 Feds Hit Debt Limit Today 
May 16, 2011 7:54 AM CDT

Feds Hit Debt Limit Today

President warns default 'could unravel entire financial system'

(Newser) - The federal government is slated to hit the $14.3 trillion debt ceiling today, boosting pressure on the White House to reach a deal with House Republicans to raise that limit. Hitting that ceiling won't immediately affect government finances, notes the AFP , because an unanticipated boost in last month'...

Paul Krugman: Budget Deficit Is Fault of Elite, Not Voters

 Blame Elite, 
 Not Voters, for 
 Deficit Mess 
paul krugman
May 9, 2011 1:50 PM CDT

Blame Elite, Not Voters, for Deficit Mess

Those 'lecturing' on deficit helped get us here in the first place: Paul Krugman

(Newser) - More and more people have been telling Paul Krugman that the budget deficit is the people’s fault: “Weak-minded politicians catered to the electorate’s foolishness.” But that viewpoint is not only “self-serving, it’s dead wrong,” writes Krugman in the New York Times . Instead, we...

Paul Krugman: Barack Obama, Congress Have Abandoned the Unemployed
 Washington Has 
 Abandoned the 
 Unemployed 
paul krugman
Mar 18, 2011 12:15 PM CDT

Washington Has Abandoned the Unemployed

Krugman: Why are we obsessed with the deficit when millions need jobs?

(Newser) - One-sixth of American workers can’t find full-time jobs, and things aren’t getting any better for them: There are nearly five times more jobless people than there are job openings, and the "average unemployed worker has been jobless for 37 weeks." Yet all we hear about from...

Census: 1 in 4 US Counties 'Dying'
 1 in 4 US Counties 'Dying' 
says census
Feb 23, 2011 5:50 AM CST

1 in 4 US Counties 'Dying'

More deaths than births recorded in rising number of areas: census

(Newser) - Almost a quarter of America's 3,142 counties are slowly dying, according to the US Census Bureau. Some 760 counties are now recording more deaths than births, census figures show, and what demographers call "natural decrease" is accelerating as the downturn pushes birth rates down and forces young people...

Only 12% Chance We'll Return to Recession
Only 12% Chance We'll Return to Recession
say economists
Feb 14, 2011 8:39 AM CST

Only 12% Chance We'll Return to Recession

Forecast fastest expansion in years on consumer spending

(Newser) - Economists are growing more optimistic about this year’s climate, predicting it will expand at its fastest pace since 2003, the Wall Street Journal reports. The paper polled 51 economists. Among the highlights:
  • Economists see only a 12% risk of returning to recession, compared to 22% in September.
  • In the
...

Did Bankers Go to Jail for Causing Great Depression?

No, although a couple were charged and some were embarrassed

(Newser) - The government could soon prosecute a few Wall Streeters who allegedly played a role in the financial crisis, and the commission that uncovered those at fault was modeled on a similar probe after the Great Depression. So did anyone who precipitated that collapse ever go to jail? Nope, writes Brian...

Feds Ready to Prosecute in Financial Meltdown

Inquiry panel will name names on Thursday

(Newser) - It might finally be time to pay for a handful of Wall Streeters, as the Financial Crisis Inquiry Commission prepares to name names for possible prosecution, insiders tell the Huffington Post . The panel, which will release three separate reports on Thursday, is turning several cases over to state and federal...

Recession Over for US Firms, Not Workers

US jobless rate higher than competitors despite soaring profits

(Newser) - The US recession is over—at least, for businesses. US workers are still mired in it. Unlike its economic competitors, America's profits have bounced back to above 2007 levels, but the unemployment rate is higher than in Britain or Russia and much higher than in Germany, Japan, or China, notes...

10 Companies That'll Be Dead by 2012

Even household names like Sara Lee unlikely to survive

(Newser) - The economic crisis can be blamed for the death of quite a few large companies already—think Circuit City, Northwest Airlines, and Countrywide—so which ones can we expect to go bye-bye this year? Here are 10 American companies that seem unlikely to survive, from 24/7 Wall St. via Daily...

Wages Falling Fast— and Might Not Come Back

This consequence of the recession hearkens back to Depression

(Newser) - More bad news for the unemployed: You may very well return to the workforce, but it will likely be at a significantly lower wage than you were earning before. The Wall Street Journal offers up the stories of workers who went, in one case, from a $150,000-per-year money manager...

US Abortion Rate Stalls, May Be on Rise Again

After declining for years, a plateau has been reached

(Newser) - After falling for almost two decades, the number of abortions being performed in the US appears to have plateaued, possibly another consequence of the continuing recession. The abortion rate among US women has also stalled its decline, the Washington Post reports. A new survey out today found “essentially no...

A Third of Working Families Live in Near-Poverty

Recession has hurt more than just the unemployed

(Newser) - Recession lamenters often focus on the unemployed, but the employed are taking a beating, too. Nearly one in three working families in America is now considered low income, meaning they earn less than twice the official poverty threshold, according to a report released today from the Working Poor Families Project....

Paying Restaurant Tab the New Moment of Dread

Gracious habits left with George W. Bush

(Newser) - It used to be that one could go out for dinner with friends, eat, drink, and still be quite merry about splitting the tab. These days, however, the moment the bill arrives is the tense moment of truth: Who made do with PBR while the other slammed martinis, and who's...

2010's Least Amazing Big Deals
 2010's Least Amazing Big Deals
Dec 5, 2010 7:32 PM CST

2010's Least Amazing Big Deals

10 most overrated things of the year

(Newser) - We're officially in that always-fun time of year: The season for "best of" lists. And while Newser is sure to present plenty of lists that round up the best of 2010 , we can't help but slip in a few that focus on the worst. Courtesy of Mark Juddery, author...

US Corporate Profits Reach Record High
US Corporate Profits
Reach Record High
what recession?
Nov 23, 2010 5:13 PM CST

US Corporate Profits Reach Record High

But don't expect hiring to follow

(Newser) - Recession or no, US corporate profits hit an all-time high of $1.66 trillion in the last quarter, reports the New York Times . It's the highest figure since the government began tracking the stat more than 60 years ago, though it trails the record set in the third quarter of...

9 Great Products Launched in Downturns

Recessions don't kill innovation

(Newser) - Who says the worst recession since the 1930s means you can't debut a great product? The Huffington Post lists 9 hugely successful ones launched in tough economic times:
  • iPod: Apple unveiled it less than 2 months after the September 11 attacks, amid the resulting recession.
  • Microsoft Office: Bill Gates launched
...

Jobless Benefits Extension Fails in House

They could expire at the end of November

(Newser) - A vote to extend federally funded unemployment benefits for three months failed to get enough support in the House today, meaning that current benefits could expire on November 30. The bill required a two-thirds vote to reauthorize funding and faced an uncertain future in the Senate had it passed, reports...

Guy Offers $25K to First Person Who Gets Him a Job

As long as your job lead pays $225K, you're set

(Newser) - Having trouble finding a job? Perhaps you should consider Scott Avidon's approach: He's offering $25,000 to the first person who helps him get one. The 45-year-old father of two, laid off six months ago, tells the Huffington Post that he's been "aggressively looking" for jobs—networking, applying online,...

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