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Recession Briefing 2.9
What you need to know today to survive and thrive in the recession.
Bull Market for Feng Shui Masters (WSJ)
Praise to the King Money Frog in the Year of the Ox. Feng shui masters are finding a receptive audience for financial matters after a year of massive losses for banks. In Hong Kong, seeking tips from practitioners of Chinese cosmetology is widely accepted.
What recession? Grammy red carpet sparkles (Newsday)
The recession means belt-tightening for many, but few in the music industry are having to hock their sequins or gold grillz. Not yet, anyway, if the red carpet arrivals at last night’s Grammy Awards are any indication.
Stimulus: What’s Next (CNN Money)
In the coming days, a compromise version of the economic recovery plan is likely to pass the Senate with a handful of Republican votes. But a final bill is still a ways off.
U.S. Bank Bailout to Rely in Part on Private Money (NYT)
Attention, Wall Street: You got us into this mess, so how about getting us out? The Obama administration prepares to unveil a revised bailout plan for the banking system, and policy makers hope Wall Street can be part of the solution.
In World of High-Glamour, Low-Pay Jobs, the Recession Has Its Bright Spots (NYT)
Call it “social correction.” The young women at New York’s auction houses suddenly find themselves on more equal footing with Wall Street friends. There’s less pressure to spend, and that doesn’t suck.
Army recruiting rises amid recession, layoffs (Chicago Tribune)
Laid-off workers join Uncle Sam. Early numbers for 2009 suggest that Army enlistments for active service and reserve forces are growing. Many are interested in educational and other benefits that come with military service.
Recession limits Americans’ ability to find work by moving (USA Today)
Seems there’s nowhere to hide in this economy. Unlike in prior downturns, the jobless can’t simply pick up and move to find work, an issue compounded by the housing crisis. Experts say an unprecedented lack of mobility will make the downturn longer and deeper.
Recession sending more students to comm. colleges (AP)
The two-year schools are reporting unprecedented enrollment increases this semester, driven by students from traditional colleges seeking more bang for their buck and by laid-off older workers.
Economists React: Jobs Report Shows ‘Slow Motion Train Wreck’ (WSJ)
Economists and others weigh in on the January employment report, which showed a loss of nearly 600,000 jobs and a rise in the unemployment rate to 7.6%
Jobs Plunge Shows Economy In ‘Freefall’ (NPR)
Economists said it would be bad, but it was even worse: U.S. businesses continued to pinkslip workers at a frantic pace in January, and the unemployment rate jumped to 7.6 percent (its highest level since 1992).
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i apologise in advance for any political incorrectness in my swaggering rants, in any event, i do believe that the root cause of your financial situation is multi-layered and at best is a self inflicted wound, we have watched for years the greed that runs our engines, no pun intended, we seem to easily forget all the events on an ongoing basis every single day, we have created an artificial economy in every sector of our daily lives, we want, want, but we never give anything back, we go on foreign adventures without just cause, we partake in illegal wars, and do not look at the cost both in human lives or the money costs, we revel in waving the flag without understanding the consequences, as you examine the daily reports of corruption and the greed we have in fact dug our own graves in a continuous cycle of never learning from our mistakes and we listen to our politicians who could care less about future generations, i loathe being cynical, but i can hardly be in denial of the true causes of the situation which in effect is caused by the people and their own personal greed which snowballs into its own monster, and yet we still feed our egos, we need to change our culture and except far less than what is needed to experience a quality life, i could go on and on, but, i do not want your new site to be polluted like the rest of our planet, we are all equally arbitrators of the night