recession

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The Recession Is Worse Than the Great Depression: David Leonhardt

 As Bad as the 
 Depression? If Only 
David Leonhardt
Oct 9, 2011 1:44 PM CDT

As Bad as the Depression? If Only

At least new industries arose in the 1930s: Leonhardt

(Newser) - There's never a Great Depression around when you need one, apparently. Despite its misery, "the United States economy was quietly making enormous strides during the 1930s," argues David Leonhardt in the New York Times . Americans were getting a better education—high school, back then—while industrious entrepreneurs...

Drunk Driving Down Due to... the Economy?

 Drunk Driving 
 Down Due to... 
 the Economy? 
survey says
Oct 5, 2011 11:18 AM CDT

Drunk Driving Down Due to... the Economy?

More people may be drinking at home: CDC

(Newser) - The good news: According to self-reported data, Americans are driving drunk less often. The bad news: It may not be because we're more responsible, but because ... we're broke. The CDC data shows that self-reported drunk driving among adults was down 30% from 161 million instances in 2006 to...

Americans to Spend Nearly $7B on Halloween Stuff
Americans to Spend Nearly $7B on Halloween Stuff
survey says
Sep 30, 2011 7:35 AM CDT

Americans to Spend Nearly $7B on Halloween Stuff

That's more than double 2005's amount

(Newser) - Apparently, Halloween is more than just a holiday—it’s an economic stimulus package. Americans plan to spend a whopping $6.9 billion on costumes, decorations, and entertainment related to October 31, according to the National Retail Federation—and that’s more than double 2005’s number from the same...

In Amazon&#39;s Warehouse, Shades of Grapes of Wrath
In Amazon's Warehouse, Shades of Grapes of Wrath
Ezra Klein
Sep 29, 2011 1:00 PM CDT

In Amazon's Warehouse, Shades of Grapes of Wrath

LeHigh warehouse like something out of Grapes of Wrath , Ezra Klein observes

(Newser) - In the Grapes of Wrath, the Joad family gets a hard lesson in economics, when they follow a handbill for jobs to California—only to find there are no jobs. Why, he asks, did they put out the handbills? A fellow homeless man replies that if you’ve but one...

Housing Market Will Stink Through 2015
Housing Market Will Stink Through 2015
new report
Sep 21, 2011 11:07 AM CDT

Housing Market Will Stink Through 2015

Economists, builders, mortgage analysts fear 'lost decade'

(Newser) - Even more bad economic news from a report released today: Housing prices will remain depressed for years, dropping by an expected 2.5% this year and rising only 1.1% each year through 2015, according to the survey of more than 100 economists. Since the 2005 peak, housing prices have...

Child Abuse Rose With Recession
 Child Abuse Rose 
 With Recession 
study says
Sep 19, 2011 8:17 AM CDT

Child Abuse Rose With Recession

Study provides first hard data showing a link

(Newser) - A disturbing trend: Child abuse rises in recession, a new study from Kentucky, Ohio, Pennsylvania, and Washington shows. From 2004 to 2007, 8.9 out of 100,000 children under five ended up in the hospital each year with severe brain injuries. From the December 2007 crash to 2009, that...

Odds of Second Recession Grow: Economists

And Fed can't do much to stop it, say experts

(Newser) - Economists are citing a one-in-three chance of a new recession—the highest likelihood given in the Wall Street Journal ’s regular survey since the recovery began. The figure is 4 percentage points higher than last month’s as joblessness, a troubled stock market, and fears for Europe continue. “...

Maureen Dowd: Obama Fights Back With Jobs Speech, But Reveals Lazy Side
 Barry's Baaaaaack, 
 But Are We Satisfied? 
Maureen Dowd
Sep 11, 2011 2:45 PM CDT

Barry's Baaaaaack, But Are We Satisfied?

Obama gets feisty again, but he had to be 'cajoled': Dowd

(Newser) - Fiiiiinally... the fiery President Obama of old came roaring back with a killer jobs speech this week. "What a relief," sighs Maureen Dowd in the New York Times . "The president was strong and House Republicans were conciliatory." But it's not that simple, she says, because...

Odds of a Double-Dip? Probably 50-50 Now

This kind of stalled job growth often leads to recession: David Leonhardt

(Newser) - Bleak reading for the White House ahead of the president's jobs speech : David Leonhardt of the New York Times thinks the odds of a double-dip recession have spiked of late and might be around 50-50 now. The US had been putt-putting along in what looked to be a modest...

Meet &#39;Generation Limbo&#39;
 Meet 'Generation Limbo' 
Sep 1, 2011 11:25 AM CDT

Meet 'Generation Limbo'

Increasingly, 20somethings wait for their 'real' career

(Newser) - Stephanie Kelly graduated in 2009 with a degree in advertising; instead she works as a part-time secretary and writes freelance for an online “Secret Santa Organizer.” Amy Klein has a degree in English lit from Harvard, but the 2007 grad has been touring the country in a minivan...

CBO: 'Profound' Challenges Ahead

Deficit should fall, but employment, growth remain low

(Newser) - The picture for 2011 is a glum one—a $1.3 trillion deficit, 9.1% unemployment rate—and it's not going to get much brighter in the next few years, according to a report by the Congressional Budget Office. In it, notes Politico , the CBO warns of "profound...

AP Poll of Economists: Double-Dip Recession Unlikely, But Growth Will Be Slow
Next 12 Months: No Recession, but Slow Growth
economists say
Aug 23, 2011 2:55 PM CDT

Next 12 Months: No Recession, but Slow Growth

Risk of recession at 26%; unemployment likely 9% at year's end

(Newser) - Despite a bombardment of bad news in recent weeks, economists don’t expect another recession over the next 12 months—but economic growth will barely be perceptible in that period, an AP poll of top economists finds. They expect high unemployment and weak consumer spending to dog the US into...

MGM Wants to Blow Up Never-Opened Vegas Hotel
 MGM Wants to Blow Up  
 Never-Opened Vegas Hotel 
IN CASE YOU MISSED IT
Aug 21, 2011 11:54 AM CDT

MGM Wants to Blow Up Never-Opened Vegas Hotel

Casino company abandoning costly project

(Newser) - Hotel implosions aren’t exactly unheard of in Las Vegas, but it’s not every day the condemned is a brand-new, never-opened luxury tower. MGM on Monday submitted a request to the county office to implode Harmon Tower, a luxury hotel that was supposed to be the crown jewel in...

Perry Owes Texas' Jobs Boom to ... the Feds

Rick Perry boasts of limited gov't, but numbers tell different story

(Newser) - Rick Perry likes to boast that Texas' leading jobs creation rate comes from limiting taxes and government interference, but in fact many of those jobs are thanks to Washington. And thanks in particular to the military and surging federal spending—along with $25-billion in federal stimulus —government jobs in...

Obama to GOP: 'Stop Drawing Lines in the Sand'

President winds up bus tour, says Republicans blocking economic growth

(Newser) - President Obama accused Republicans of keeping a politically motivated stranglehold on the US economy as his three-day bus tour of the Midwest wrapped up today, the Los Angeles Times reports. "I need you to send a message to folks in Washington," he told voters at a seed-production facility...

Dow Bounces Back, Soars 430

Nasdaq, S&P also post huge gains

(Newser) - Another crazy day for the markets, but this time they ended way up in positive territory. The Dow rose 430 points to close at 11,239, up nearly 4%. The Nasdaq rose 125 to 2,483 (5.29%) and the S&P 500 jumped 53 to 1,173 (4.74%)....

Second Phase of Double-Dip Recession Could Be Even Worse
Brace Yourself for Even
Worse 2nd Recession
analysis
Aug 8, 2011 8:33 AM CDT

Brace Yourself for Even Worse 2nd Recession

Could devastate a still-ailing economy, writes Catherine Rampell

(Newser) - Economists say we could be headed for a second recession—and if they’re right, it’s poised to be even more devastating than the first, writes Catherine Rampell in the New York Times . That’s because the starting point for the second dip would be our current weak economy,...

S&P: Oh, We Might Downgrade US Again

Worried partisanship will block meaningful debt reform

(Newser) - Standard & Poor's yesterday not only defended its decision to downgrade America's once-vaunted AAA credit rating for the first time, it warned that a second downgrade could be on the way if the US doesn't get its act together. “Compared to some other highly rated governments,...

Sinking Confidence Behind Market Collapse

Investors starting to panic that nobody has answers

(Newser) - What's behind the market meltdown? Some on-the-fly observations:
  • Ezra Klein, Washington Post : The market is "diving because of forces Washington can’t control, and in many cases, doesn’t understand very well. How many members of Congress do you think could give a coherent account of what has
...

Recession Worse Than Thought; GDP Growth Weak

Economy grew just 1.3% over past three months

(Newser) - We already knew the Great Recession was the worst in decades, but in fact we were even worse off than we thought, new figures show. The economy shrank 5.1% over the course of the recession, from 2007 to 2009—1 percentage point worse than the earlier estimate of 4....

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