recession

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Broke? Try Paying Like Our Ancestors, With Shells, Beans

(Newser) - Sure, the global economy might collapse spectacularly and send us all back to a barter system. But that’s inefficient, Greg Sabin writes on Mental Floss, and “almost all civilizations have come up with currencies.” A sampling of what might be in your wallet next week:
  • Shells: "
...

Backyard Burials Alive and Well
Backyard Burials Alive
and Well
Jul 21, 2009 12:33 PM CDT

Backyard Burials Alive and Well

Families see economy, intimacy in caring for dead themselves

(Newser) - A growing number of families are deciding against funeral homes and cemeteries, the New York Times reports. Many have decided to care for their dead at home, which they say gives them more dignity—and saves money in the process. “It’s organic and informal, and it’s on...

'Recession-Proof' Job Is a Myth: Experts

(Newser) - If the downturn has you considering a “recession-proof” job like teaching or medicine, think again, Greg Burns writes in the Chicago Tribune. The recession has affected all sectors, from layoffs and lower enrollment at educational institutions to dwindling state budgets choking civil servants. “It’s a question of...

Dumpsters Make Splash as Swimming Pools

In Brooklyn, people clamor to get into ultra-private urban pools

(Newser) - The newest hangout for the recession chic set is the Dumpster—transformed into a swanky pool. The repurposed, invitation-only trash bins, hidden on a private lot in Brooklyn, are gaining a reputation in the blogosphere and could soon pop up in formerly dingy strip malls. “It’s a very...

Yo-Yo Biz Rebounds in Bad Times

(Newser) - Hard times can't keep a good yo-yo down, finds the Wall Street Journal. Sales of the centuries-old toy are soaring, and top-end designs with precision ball-bearings have revolutionized the sport over the last few years, shattering world records and  making new tricks like the whirling "Yosemite Escape" possible....

Economy Is on an Upswing, Says Dr. Doom

Roubini predicts end to recession, sends markets jumping

(Newser) - The financial crisis is over and the worst of the recession is behind us, writes Nouriel Roubini, the extremely pessimistic economist who was among the few who predicted the scale of the downturn. "The light at the end of the tunnel is for once not an incoming train,"...

Dow Up 96 Despite CIT Woes
 Dow Up 96 Despite CIT Woes 
MARKETS
Jul 16, 2009 3:16 PM CDT

Dow Up 96 Despite CIT Woes

Rally extends into 4th day on Roubini comments, tech optimism

(Newser) - Stocks gained today as the tech sector continued to inspire and economist Nouriel Roubini predicted a recovery in late 2009, the Wall Street Journal reports. Though the looming bankruptcy of CIT Group depressed stocks most of the day, financials were able to trim losses before the close. The Dow rose...

Frugal Mainers Easily Weather Economic Storm

(Newser) - A long history of sparse employment and hardships of all stripes has built a culture of frugality that leaves Maine perfectly suited to the current recession, the Boston Globe reports. “Everybody now is into shopping thrift shops, but in most of Maine, people never stopped,” a banker says....

Yoga Retreats See Karmic Convergence in Recession

Ashrams enjoying newfound popularity

(Newser) - Many left unemployed or weary by recession are heading to yoga retreats, where they get meals, lodging, spiritual education, and quiet reflection for some chores and a low fee. “I figured if I stayed for a year, the economy would be warming up by then, and I could head...

Recession Will Cost More Jobs, End 'Before Long': Fed

(Newser) - The Federal Reserve is confident the general economy is turning around but still pessimistic on the jobs part, the Wall Street Journal reports. In June meeting minutes issued today, those gathered agreed that data since April “indicated that the economic contraction was slowing and that the decline in activity...

Stimulus Cash Isn't Making It to Hard-Hit Minorities

African-Americans, Hispanics pummeled by recession

(Newser) - With unemployment at 14.7% among African Americans and 12.2% among Hispanics, the recession is hitting minority communities particularly hard. But as is often the case with so-called “colorblind” spending, stimulus funds, intended to be equal-opportunity, aren’t making it to these groups. The government must “start...

Parents Save, Send Kids to 'Camp Granny'

In recession, grandparents replace summer camp for many

(Newser) - The lingering recession is forcing cash-strapped parents to cancel camp for the kids—instead, they're being packed off to their grandparents'. The arrangement shifts the child-care burden to grandparents, many of whom enjoy the extra time with their grandchildren. Mom and dad save money and get some time to themselves,...

Backyard Chickens Ruffle Neighbors' Feathers

Low-cost organic egg dispenser, or messy nuisance?

(Newser) - Backyard chickens have polarized the city council of Salem, Ore., as residents argue over whether to legalize keeping the birds in home coops, the Wall Street Journal reports. It’s one of several such disputes around the US, with some extolling the virtues of a source of free eggs and...

Desperate in July, Sears Looks to Santa for Bailout

(Newser) - Sears is taking the “Christmas in July” trope to a whole new level. With June retail sales tumbling, the company is looking for a boost by selling actual Christmas products, Time reports. Soon, 372 Sears stores will roll out displays hawking tree ornaments, stocking stuffers, and other decidedly off-season...

In Recession, Vegas Eateries Can't Beat Odds

(Newser) - Just a year ago, 25% of the country's highest-grossing restaurants were in Las Vegas—where diners ran up $15,000 checks and tipped waiters with wads of C-notes. But now restaurants are closing, new construction languishes half-finished, and more than 5,000 food industry workers have lost their jobs. "...

Obama: Expect Jobless Rate to Rise Further

Hiring 'typically lags' after recovery begins

(Newser) - President Obama expects unemployment to continue to “tick up” for a few months, Reuters reports. “We have seen some stabilization in the financial markets, and that’s good, because that means that companies can borrow and banks are starting to lend again,” he said today. But “...

Colleges Hope to Cash In on Naming Rights for Classes

Hope corporate funds can save programs

(Newser) - With schools hit hard by the recession, some are considering new ways to pull in cash. One idea: corporate sponsorship for classes, Time reports. City College of San Francisco may sell naming rights to 800 classes that might otherwise disappear. College officials have mixed feelings, with some put off but...

Prepared Food Aisle Is the New Restaurant

Restaurants take hit as customers opt for cheaper grub

(Newser) - Cash-conscious consumers who’d rather not cook are increasingly ditching restaurant dinners in favor of grocery stores’ prepared meals, the San Diego Union-Tribune reports. At some stores, prepared-food sales have jumped 7% to 10%, says an industry consultant. For their part, supermarkets are hawking a bigger and better selection of...

Deficit Tops $1T for First Time
 Deficit Tops $1T for First Time 
Jul 13, 2009 2:25 PM CDT

Deficit Tops $1T for First Time

(Newser) - Nine months into the fiscal year, the federal deficit has topped $1 trillion for the first time. The imbalance is intensifying fears about higher interest rates and inflation; there's also concern about trying to reverse the deficit—by reducing government spending or raising taxes—in the midst of a harsh...

Recession's Silver Lining: We're Content With Less

(Newser) - Americans are embracing the no-frills attitude necessitated by the recession, USA Today reports. One-third say they are spending less and plan to keep up the practice as their “new, normal” way of living, according to a study. A whopping 47% of Americans say they have all they need, another...

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