News

Recession Briefing 4.17

What you need to know today to survive and thrive in the recession.

There are new signs that the recession may be easing up. The pace of new-home construction seems to be nearing a bottom, and first-time jobless benefit claims fell more than expected. (Associated Press)

The banking industry is also starting to see some signs of recovery. JPMorgan Chase, Goldman Sachs and Wells Fargo have announced major profits this quarter. (New York Times)

Nobel Prize-winning economist Joseph Stiglitz says that the Obama Administration’s ties to Wall Street will doom its bank-rescue efforts. (Bloomberg)

After a bank fails, debt collectors show up at the doorsteps of borrowers to “shut down the zombies, liquidate their assets.”  (New York Times)

Want to get a sense of just how many jobs are being lost across the country? Check out this interactive map. (Slate)

This summer’s music festivals aren’t immune to the recession. Those canceled this year include Florida’s Langerado Music Festival and The San Francisco Blues Festival. (Los Angeles Times)

The recession is bringing more and more Ponzi schemes into the open. Since Bernie Madoff’s arrest in December, federal authorities have been investigating dozens of similar scams. (USA Today)

Music industry insiders are saying that the recession has taken some of the bling out of rappers’ wardrobes. (Associated Press)

The International Monetary Fund has warned of “worrisome parallels” between the current global crisis and the Great Depression. (Daily Telegraph)

“Why haven’t community organizers and artists been offered a greater role in the national recovery?” asks Jeff Chang. (The Nation)

If you come across a good article or blog post about the recession pass it on.

Tags: art, bailout, banks, economy, rappers, The Unemployed Life, Trends and Entertainment