recession

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Cheap and Comforting: Food Trends for 2009
Cheap and Comforting:
Food Trends for 2009
GLOSSIES
Jan 11, 2009 9:34 AM CST

Cheap and Comforting: Food Trends for 2009

Gourmet outlines how we'll eat well in the downturn

(Newser) - With a recession weighing on our minds (and wallets), Gourmet breaks down new home cooking trends for 2009:
  • Drinking will, unsurprisingly, be on the rise, with a wider variety of high-end spirits for simple homemade cocktails.
  • Simple ingredients like large beans will be central in a new wave of easy,
...

Nutritionists Fear We'll Pack On 'Recession Pounds'

Obesity rate linked to poverty

(Newser) - Health professionals fear that Americans' lighter wallets will lead to bigger bellies. During tight times, consumers tend to pick cheap, high-calorie foods over healthy items such as lean meats and fresh produce, Reuters reports. "Obesity is a toxic result of a failing economic environment," said one nutritionist. When...

Happy Hour Hammers Bars in Tough Times

Restaurants sober up as patrons drink earlier to save money

(Newser) - There’s a recession on, and that’s forcing drinkers everywhere to change their schedules. These days bars are filling up in the late afternoon, the Los Angeles Times reports, as patrons pinch pennies by slurping happy hour specials. “We don’t see a change in what people are...

Dow Ends Bleak Week Off 143
 Dow Ends Bleak Week Off 143 
MARKETS
Jan 9, 2009 3:26 PM CST

Dow Ends Bleak Week Off 143

Index down 4.8% since Monday

(Newser) - Stocks posted losses today as news that US unemployment hit 7.2% moved the markets to the finish of a dismal week, MarketWatch reports. The Dow lost 143.28 to close at 8,599.18, with losses perhaps limited because investors were expecting the bad jobs news. The Nasdaq fell...

US Loses 524K Jobs; Unemployment Hits 7.2%

Makes 2008 worst year for employment since 1945

(Newser) - Employers cut 524,000 jobs in December, which, on the heels of November’s decline of 584,000, made 2008 the darkest year of job losses since the end of World War II, Bloomberg reports. Those numbers were in line with forecasts, but the jobless rate topped its forecast by...

Obama's Cure Not Potent Enough for Economic Ills

Call for bold action on economy followed by plan that falls a long way short

(Newser) - Barack Obama's call for aggressive action on the economy hasn’t been backed up by a plan bold enough to do the job, Paul Krugman writes in the New York Times. Plunging levels of investment and consumer spending will leave a gap of around $2 trillion between what America produces...

Intel Losses Dull Luster of Gadget Show

Revenue slump looms over Consumer Electronic Show

(Newser) - Intel's prediction today of abysmal holiday losses has cast a shadow over the year's flashiest gadget show, which starts tomorrow, writes Brooke Crothers of CNET. Fourth-quarter revenue is expected to be down 23% from 2007 and 20% from the third quarter. Intel is the world's biggest chip maker, and the...

US 2009 Deficit at Least $1.2T
 US 2009 Deficit at Least $1.2T 
Jan 7, 2009 11:19 AM CST

US 2009 Deficit at Least $1.2T

(Newser) - This fiscal year, which started in October, will see the US running a budget deficit of at least $1.2 trillion, the largest ever, the Washington Post reports. That number could swell to $1.6 trillion if Barack Obama’s massive $800 billion stimulus plan is approved by Congress. The...

Fed Sees Recession Lingering Through '09

(Newser) - The Federal Reserve anticipates the recession will continue through 2009 despite its recent rate slash and other planned “nontraditional policies,” the Wall Street Journal reports. Minutes of the Fed's December 15-16 meeting, at which it cut rates to nearly zero, indicate a deep pessimism about the economy. Officials...

Newfound Thrift Battering Economy

Sharp rise in savings rate expected to lengthen recession

(Newser) - Americans worried about the recession are stashing away cash at the highest rate in decades—but economists fear that the thrift will prolong hard times, reports the Wall Street Journal. The national savings rate has rebounded from less than zero to levels expected to hit 5% or higher this year...

Don't Blame Fannie for Mess
 Don't Blame Fannie for Mess 



Glossies
Jan 5, 2009 9:11 AM CST

Don't Blame Fannie for Mess

Wall Street, banks, and government also at fault

(Newser) - Fannie Mae and Freddie Mac, the "toxic twin" housing financing behemoths blamed for setting the world on fire, were not operating any differently than the entire financial sector, Bethany McLean writes in Vanity Fair. McLean documents Fannie Mae's history starting from conception in FDR's New Deal, when it was...

Pols: No Stimulus By Jan. 20
 Pols: No Stimulus By Jan. 20 
Jan 4, 2009 6:58 PM CST

Pols: No Stimulus By Jan. 20

Republicans voice opposition to Obama's plan

(Newser) - President-elect Barack Obama’s massive economic stimulus bill may not move as quickly as Democratic leaders had hoped, Politico reports. Republicans began suggesting alternatives to the plan today, and House Democrats now say they likely won’t vote on the bill until the week of Jan. 19 or later. Obama’...

Rainbow Room Grill to Close
Rainbow Room Grill to Close 
Jan 4, 2009 4:54 PM CST

Rainbow Room Grill to Close

In throes of recession, rent dispute, the Big Apple landmark will shutter its dining hall

(Newser) - New York’s vaunted Rainbow Room will shut down its dining hall next week amid the recession and a rent conflict, the New York Daily News reports. With the Rainbow Grill’s closure, the tourist hotspot at 30 Rockefeller Plaza will—temporarily or otherwise—be 40 employees lighter and limited...

Steel Industry Hopes Stimulus Will Forge Recovery

Execs want projects using American steel to be center of economic recovery

(Newser) - Leaders of America's sagging steel industry are hoping their operations will spearhead the economy's recovery with some major help from the US government, the New York Times reports. Steel orders have collapsed since September, causing thousands of layoffs. Execs are pushing hard for the expected stimulus package from the incoming...

Shoppers Go Whole Hog for Piggy Banks

Newly frugal consumers use little pink pals to help save

(Newser) - Piggy banks have been flying off the shelves this holiday season, reports Reuters. Newly frugal consumers see the pigs as symbolic of the need to save, retailers say. The savings rate across America has shot up from zero to 2.8% as worried households start to sock away cash—although...

Dumbest Gaffes on the Economy

Instead of predicting financial crisis, they hid it

(Newser) - The men who should have been warning us about the impending financial crisis were a wee bit off the mark at times. MSNBC rounds up some of the dumbest things said:
  • "Subprime market problems seem likely to be contained."—Ben Bernanke, March 28, 2007
  • "The fundamentals
...

Just How Bad Was 2008?
 Just How Bad Was 2008? 
Dec 31, 2008 4:37 PM CST

Just How Bad Was 2008?

The worst anyone under 70 has seen, Bloomberg reports

(Newser) - If you're under the age of 70, 2008 was probably the worst year you've lived through, reports Bloomberg. Here's why:
  • In housing, which started the downturn, median resale prices saw a 13% decline, the largest since the 1930s.
  • Foreclosure rates reached 2.97%, and mortgage delinquency hit 6.99%, both
...

Dow Rises 108 to End Year
 Dow Rises 108 to End Year 
MARKETS
Dec 31, 2008 3:21 PM CST

Dow Rises 108 to End Year

Dow off 33%, S&P down 40% for 2008

(Newser) - Stocks posted gains in the last trading session of the year, but this two-day rally will do little to erase the indices' dismal record in 2008, MarketWatch reports. Amid light trading volume ahead of New Year's Day, the Dow gained 108 points to close at 8,776. The Nasdaq closed...

Sign Spinners Toss, Twirl the Sandwich Board

Businesses embrace cheap advertising idea in recession

(Newser) - Sidewalk sign holders in California have spun a boring job into art that's drawing attention, on the cheap, from advertising-inundated consumers. Sign spinners twirl, toss, and wheel ad boards around the body—all while ensuring the board's message displays prominently. As ad dollars dry up, the complicated showmanship is helping...

Pawn Shops Attract Upscale Clientele

(Newser) - Pawn shops are turning from the shady realm of the lower class to a place for rich people to get loans, the Wall Street Journal reports. The typical household income of a pawn shop customer is $29,000, but new middle- and upper-class clients are surging. One such client pawned...

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