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Recession Briefing 5.28

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

At a time when consumers are in a serious saving mode, why are sales of $100 yoga mats soaring? (Time)

Retailers and service technicians have long advised that it often makes sense to buy a new product rather than repair a broken one. But repairmen say many consumers are rejecting this suggestion and trying to spend as little as possible. (New York Times)

Nouriel Roubini, the famously glum economist who predicted the financial crisis, said that while the recession in the United States may well be over at the end of the year, another dip was still possible next year. (Reuters)

A government program designed to rid banks of bad loans, part of a broader effort once viewed as central to tackling the financial crisis, is stalling and may soon be put on hold. (Wall Street Journal)

Are some people hard-wired to make bad choices? A new study looks at the neurological reasons so many consumers may have fallen into risky financial traps like adjustable mortgages. (Newsweek)

With household budgets getting tighter, more Americans are cutting their cable television service. (Wall Street Journal)

Recession budgeting could put a damper on the summer plans of affluent teens, as families that might once have readily paid for service-travel, precollege courses or sleep-away camps reconsider their options. (New York Times)

As the recession bears down, children are grappling with more stress at home, and low-income families, already highly mobile, are being forced to pull up stakes and move more often. (Associated Press)

The number of homes sold is on the rise, but prices across the country keep dropping, according to new figures. (Washington Post)

Once-sacrosanct veterans’ programs are no longer safe from the knife as tax revenues continue sliding in the recession. (Associated Press)

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Tags: budgets, Dr. Doom, economy, loans, real estate, yoga