News

Recession Briefing 6.4

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

Bankruptcy filings in the U.S. are now taking place at a rate of 6,000 per day, and are on pace to reach 1.5 million this year. (USA Today)

The former chair of the Federal Reserve, Alan Greenspan, said Thursday that the government has lost credibility on economic matters and is largely to blame for allowing the nation’s biggest banks to become “too big to fail.” (Huffington Post)

New York has begun renting vacant luxury apartments to house the city’s growing homeless population. “Granite countertops. Terraces. Marble bathrooms. Walk-in closets.” (New York Daily News)

The U.S. job market isn’t deteriorating as much as earlier this year, but companies continue to cut workers at a rapid clip. (Wall Street Journal)

Former New York Governor Eliot Spitzer warns that the optimistic “green shoots” people are seeing in economic data may well turn out to be dandilions (Slate)

For a certain class of worker — young, creative, lacking local roots, perhaps more inclined to self-absorption than not — the recession has been a boon. It’s a generation that, through loss of work, claims to be finding itself. (SF Weekly)

Some divorce lawyers are noticing a drop-off in business as couples seem to be staying together to ride out the recession. (Philadelphia Inquirer)

Will the recession cause a permanent shift in Americans’ spending habits? Probably not, say experts. (Forbes)

The USDA reports that 33.2 million people — one in nine Americans — are currently receiving food stamps. (Reuters)

Sure, your company’s profits are way down and your colleagues are being fired. That doesn’t mean you shouldn’t be thinking about how to get a raise. (US News & World Report)

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