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Recession Briefing 9.4: Food Stamps for All
What you need to know today to survive and thrive in the recession.
More than 35 million Americans received food stamps in June, up 22 percent from June 2008 and a new record. (Reuters)
If more mothers were amateur economists, they’d probably tell you to cover your mouth when you frown. That’s because doing so could help prevent a recession. (The Big Money)
Students are borrowing dramatically more to pay for college, accelerating a trend that has wide-ranging implications for a generation of young people. (Wall Street Journal)
Who can afford to retire? Who can afford to take a vacation? Who can afford to stop thinking about making money for one single instant? Nobody we know. (Gawker)
“American innovation has solved daunting problems before and could again. But it would be a mistake to assume that American prosperity will continue on some preordained upward course,” writes Rick Newman. (U.S. News & World Report)
“It is high time the labor market started showing the kinds of improvement the factory sector and financial markets have,” writes Mark Gongloff. (Wall Street Journal)
The number of U.S. workers claiming unemployment benefits fell back last week but remain stubbornly elevated. (Financial Times)
Half of retailers that experience a downturn during a recession never recover, according to an analysis from Credit Suisse Holdings. (Chicago Tribune)
Twice as many people approaching retirement suffer sleepless nights during a recession, according to new research. (Telegraph)
The recession is a good excuse for employers to introduce a pay freeze, but what if you think your hard work deserves greater financial reward? Here are some tips for getting a raise despite the bad economic climate. (CNN/Money)
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The Big Money article has the point nailed, positive social mood is exactly why stock markets rally and why economies expand. When people are happy, they buy stock, take on more credit, buy homes, buy cars, and lots of stuff from shopping malls. When they are upset/scared, they stop spending. Unfortunately, you can’t just reverse this, it’s a natural process derived from what’s already happened, and given the mania we saw from 1980-2007, it’s very unlikely to get the masses “happy” again.
The Big Money article has the point nailed, positive social mood is exactly why stock markets rally and why economies expand. When people are happy, they buy stock, take on more credit, buy homes, buy cars, and lots of stuff from shopping malls. When they are upset/scared, they stop spending. Unfortunately, you can’t just reverse this, it’s a natural process derived from what’s already happened, and given the mania we saw from 1980-2007, it’s very unlikely to get the masses “happy” again.
P.S. – Sorry, forgot to tell you great post!