News

Recession Briefing 4.27

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

“People need an escape from the reality of recession, so they are fleeing to forms of entertainment that represent the biggest break from their experiences: crime novels, over-the-top Broadway musicals, fantasy films, standard sitcoms … anything that promises laughter and forgetting.” (Newsweek)

Mortgage protection programs are becoming more popular as more builders, lenders and consumers are looking for assurance that payments will continue to be made if jobs are lost. (Los Angeles Times)

“If Connecticut high schools are any indication, that most iconic of all high school events, the prom, appears to be nearly recession-proof.” (Hartford Courant)

Britain’s super-rich have been ravaged by the recession, according to a recent survey. The number of billionaires sank from 75 to 43 people in the last 12 months. (Agence France-Presse)

Having cut staff, many states are finding it difficult to manage the bureaucratic demands of distributing Federal stimulus funds. (Reuters)

Increasing numbers of unemployed Americans are hitting the gym to work off stress and kill free time. (Chicago Sun-Times)

A steady stream of economic news coming out this week will give further indication as to whether recent optimism about the recession is justified. (Washington Post)

“We are probably experiencing a ‘rolling recession,’” writes Paul Smalera. “And some analysts believe the crisis has yet to fully ripple across the myriad types of assets held by banks and investors … like credit cards, industrial loans, and commercial real estate.” (The Big Money)

David Kiley, like nearly everyone, saw his savings take a massive nosedive in the last year as a result of the recession. He writes about his quest to repair the damage. (BusinessWeek)

A hospital survey has found that fewer people are now seeking elective surgery and more people are showing up to receive medical care without insurance. (Dow Jones)

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

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