economy

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Economy Sparked Recent Killing Sprees: Experts

57 kllled in mass murders in past month

(Newser) - With mass murderers having gunned down some 57 people in the last month, many observers say the troubled economy may be triggering the increase in such attacks, the Washington Post reports. “It could be the loss of a job, the loss of a lot of money in the stock...

Dr. Doom Still Gloomy on Economy
Dr. Doom
Still Gloomy
on Economy

Dr. Doom Still Gloomy on Economy

NYU's Roubini thinks more rough times lie ahead

(Newser) - Dr. Doom isn't ready to ditch his nickname. Nouriel Roubini, the New York University economist who predicted much of the current malaise, says he doesn't see a happy ending any time soon, Reuters reports. Although the stock market has generally performed well of late, he thinks it will be a...

Top CEOs Expect to Cut More Jobs

(Newser) - The unemployment rate now stands at a 25-year high of 8.5%, but the nation's CEOs say it's only going to get worse. Nearly three-quarters of the leaders of the nation's biggest companies expect to lay off more workers in the next 6 months, USA Today reports. That percentage—71%—...

Wedding Guest Lists Shrink Along With Budgets

Economy

(Newser) - With the economy slicing through earnings and savings, dream weddings are colliding with financial realities—resulting in trims to the guest list, and thorny problems choosing who makes the cut, the Boston Globe reports. The average guest list has shrunk to 139 this year, from 166 in 2007, analysts say;...

Hoe-town: 10K-Acre Farm Eyed for Detroit

Michigan investors seek to turn deserted streets into cropland

(Newser) - Motor City could turn into Maize City if a Michigan investment group has its way and turns 10,000 acres of largely deserted streets into farm plots, reports BusinessGreen. Hanz Group hopes eventually to acquire almost 10% of Detroit's 143 square miles for development into cropland, Christmas tree and lumber...

10 Recession Expenditures to Shut Up About
10 Recession Expenditures
to Shut Up About
OPINION

10 Recession Expenditures to Shut Up About

The economy has changed social etiquette

(Newser) - If you've got it, don't flaunt it. Forbes warns against boasting about these lavish purchases,:
  1. As your friends' faces get droopy, it's not cool to discuss cosmetic surgery splurges.
  2. The duck confit may have been exquisite, but resist describing a lavish meal.
  3. Lest you suffer the same scrutiny as Michigan's
...

Detroit Hopes for NCAA Boost
 Detroit Hopes for NCAA Boost 

Detroit Hopes for NCAA Boost

(Newser) - Downtown Detroit will be hopping this weekend, as hoops fans overrun the city for the Final Four. But outside the carousing along the city’s spruced-up main drag, things look as dire as ever, the Washington Post reports. One in five residents are unemployed, and abandoned homes and factories line...

Stressed Americans Still Spending Less: Poll

(Newser) - Americans are stressed about the economy and keeping their wallets shut, says a new ABC/Washington Post poll. While the number of Americans who say the economy is getting better is on the rise, that's not translating into shopping habits. Six in 10 say they feel stressed—half of those describe...

Boaters Jumping Ship in Troubled Times

Erstwhile skippers scuttle their craft for the insurance payout

(Newser) - Many boaters who bought their vessels during sunnier economic times are now regretting their purchases, and some of them are resorting to desperate measures, reports the New York Times. Facing hefty maintenance costs and docking fees, some skippers are simply cutting their crafts—often fully paid for—loose to drift...

Colleges Admit More Students Just in Case

(Newser) - Private colleges across the nation are boosting the number of students they're accepting and the length of their waiting lists in case applicants can't write the tuition check when the time comes, reports the Washington Post. Applications are at a record high 3 million, but universities fear students planning on...

Obama Fully Invested as CEO-in-Chief
 Obama Fully Invested 
 as CEO-in-Chief 
ANALYSIS

Obama Fully Invested as CEO-in-Chief

In Detroit and on Wall St., president decides to run things his way

(Newser) - Though he entered office with relatively little business experience, the past week has seen President Obama assume the role as “the most powerful player in American business today,” Mike Allen and Jim VandeHei write for Politico. “He’s realizing, ‘Hey, the economy’s mine now, and...

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

'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....

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