recession

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Secret to Recovery: Optimism
 Secret to 
 Recovery: 
 Optimism 
opinion
Nov 5, 2010 1:54 PM CDT

Secret to Recovery: Optimism

Obama, Boehner must promote American confidence

(Newser) - There’s a big economic problem that’s been keeping a low profile: American confidence, writes David Smick in the Washington Post . “Between $2.5 trillion and $4 trillion of private capital is waiting on the sidelines to ‘reliquify’ a new era of American confidence and innovation,”...

Recession Is Not Hurting Marriage
 Recession Is Not 
 Hurting Marriage 
OPINION
Oct 13, 2010 1:25 PM CDT

Recession Is Not Hurting Marriage

Op-ed: The statistics are easy to misread

(Newser) - Despite a spate of recent reports to the contrary, the nation's economic trouble isn't hurting the institution of marriage, writes a UPenn professor in the New York Times . Over the past century, "marriage and divorce rates have remained remarkably immune to the ups and downs of the business cycle,...

'Recovery' Looking Like 10-Year Recession

Uncertainty is the 'new normal' in America

(Newser) - For many Americans, "recovery" feels a lot like recession—and it may take a decade for that to change, finds the New York Times . At the current rate of job creation, for instance, it would take nine years to recapture jobs lost thus far. Home prices, meanwhile, are down...

At Current Rate All Jobs Won't Be Back Until 2020
 US Won't Get All 
 Jobs Back Until 2020 
AT CURRENT RATE
Oct 10, 2010 10:48 AM CDT

US Won't Get All Jobs Back Until 2020

And we're likely to hit another recession before then

(Newser) - The US has in 2010 added 613,000 jobs as of September—a not-so-bad average of 68,111 per month. But at that rate, it will be 2020 before the US regains the 8.36 million total jobs lost in the Great Recession. That would break the post-WWII record of...

Marriage Rates Fall: Who Can Afford It?

More young couples postpone it, live together instead

(Newser) - Marriage: Who needs, er, can afford it these days? Apparently quite a few can't, as there are more never-married young adults than married young adults for the first time in more than a century, the New York Times reports. The data, from last year’s census, suggest that the recession...

Census Finds Record Gap Between Rich and Poor

Young people hit hardest

(Newser) - The income gap between the richest and poorest Americans grew last year to its widest amount on record as young adults and children in particular struggled to stay afloat in the recession. The top-earning 20% of Americans—those making more than $100,000 each year—received 49.4% of all...

Why America Is So Angry and Miserable
Why America Is So Angry and Miserable
OPINION
Sep 23, 2010 8:53 AM CDT

Why America Is So Angry and Miserable

Blame our culture of entitlement, victimhood, and greed

(Newser) - These days, America seems defined by a near-ubiquitous “simmering resentment, frustration, and anger,” writes Charles Hugh Smith on his Of Two Minds blog. Why is that? Smith blames:
  • A culture of entitlement: From Social Security recipients to Wall Street welfare queens, “most of us have to elbow
...

The Stimulus May Have Worked
The Stimulus May Have Worked
Sep 23, 2010 8:21 AM CDT

The Stimulus May Have Worked

(Newser) - Jim Surowiecki, writing for the New Yorker, says that the Obama stimulus package worked surprisingly well. Yet, Surowiecki notes, Obama gets little credit for it because he did the economically, rather than politically, expedient thing. Rather than lump-sum tax rebates, which consumers tend to horde, he gave taxpayers a small...

Fed: We Could Help Economy...
 Fed: We Could 
 Help Economy... 
Sep 22, 2010 11:05 AM CDT

Fed: We Could Help Economy...

...But we won't just yet

(Newser) - The Federal Reserve yesterday reassured the public that it was “prepared to provide additional accommodation if needed” to support the recovery, but that it didn’t think it was needed just yet. But merely suggesting the possibility was enough to send markets in the right direction, with interest on...

Middle Class Voter to Obama: I'm Still Waiting for Change

Woman fears return to hot-dogs-and-beans era

(Newser) - An angry black middle class voter confronted President Obama at a Town Hall meeting yesterday, saying: "I'm still waiting " for change. The woman, at the meeting arranged and broadcast live by CNBC, said she was "exhausted" defending the president, "exhausted defending the mantle of change that...

Recession Ended Last June, Analysts Say

Tell that to the unemployed, who are likely to stay that way for years

(Newser) - Break out the champagne: The recession is over! In fact, it’s been over since June 2009, according to a new report from the National Bureau of Economic Research, an unofficial group that marks the start and end of such economic events. Things may not be great, the committee concluded,...

Over-50 Jobless May Be Out of Work for Good

Younger workers likely to get rehired first

(Newser) - A lot of unemployed Americans over 50 are getting the unhappy sense that they may as well kiss the workforce goodbye—nobody is going to hire them again. Blame the fact that the recovery is so sluggish. At the current rate it will take as long as 8 years for...

Ignore the Stats: Credit Card Debt Still a Big Problem

Michelle Singletary: Numbers look good because of bank write-offs

(Newser) - A recent spate of reports suggests that consumers are finally getting smart about plastic by paying down their credit card debt. Hold the celebration, writes Michelle Singletary. A closer look shows that one of the big reasons overall debt is shrinking is not because consumers are paying it back but...

Jobless 'Wasteland': Europe, US on Brink of Social Revolt

Recession left 'gaping wounds' says IMF head

(Newser) - To those who think the worst of the recession is over, the head of the IMF has this to say: "We are not safe." An astounding 30 million jobs have been lost since the beginning of the financial crisis , three-quarters of those in richer economies, a new report...

Broke 'Rents Crack Down on Kids' Sprees

Managing the expectations of your free-spending kids

(Newser) - What to do with a 10-year-old daughter who insists—insists!—on designer 'jeggings' for fall? "Manage expectations," advises the Wall Street Journal in a feature on suddenly cash-strapped middle income parents and their "costly" kids. Today's children face a real drop in their standard of living,...

Cuba's 500K Layoffs a Sharp Capitalist Turn

Raul Castro's slow reforms hastened by crap economy

(Newser) - Cuba's announcement that it's looking to whack a half-million workers off the state payroll by March is a significant move toward capitalism, reports the Wall Street Journal. Bearing some 85% of the nation's 5.5 million workers on the government payroll, as well as a ravaged economy, the island nation...

Big Banks Still Think We're Chumps
 Big Banks 
 Still Think 
 We're Chumps 
OPINION
Sep 13, 2010 10:42 AM CDT

Big Banks Still Think We're Chumps

Citigroup hasn't learned its lesson from financial crisis

(Newser) - Have the big banks learned their lesson from the financial crisis? Not a chance, writes Charlie Gasparino in the Daily Beast . Citigroup’s recent attempt to bar a well-respected financial analyst from questioning its executives about accounting practices, plus new documents proving the bank’s top brass knew about its...

For More Kids, Grandparents the New Mom and Dad

Some 3 million children are raised by them

(Newser) - As our economy sank, the number of children being raised by their grandparents rose. A Pew Research Center analysis of census data found that 2.9 million American kids are being raised by grandma and grandpa—up 16% from 2000. But one period in that decade, 2007 to 2008, saw...

It's 1938 All Over Again
 It's 1938 All Over Again 
Paul Krugman
Sep 6, 2010 10:32 AM CDT

It's 1938 All Over Again

And World War II isn't walking through that door

(Newser) - The US economy has been crippled by financial crisis, and the president’s too-cautious policies have failed to stem the bleeding. More stimulus is needed, but the public has soured on spending and plans to kick Democrats out of office. Sound familiar? That was the situation in 1938, writes Paul...

Obama Weighs New Wave of Tax Cuts, Stimulus

Team searches for ways to bolster economy

(Newser) - With economic recovery looking sluggish at best , President Obama is considering a national infrastructure program, alongside a wave of tax cuts for businesses and individuals. Up for discussion are additional tax cuts for small businesses, a possible payroll tax cut for businesses and individuals, and other tax breaks aimed at...

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