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Recession Briefing 10.19: From Middle-Class to Homeless

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

If Congress fails to pass an extension of unemployment benefits, Ricky Macoy of Quinlan, Texas plans to take it out on the Republican Party by camping on his congressman’s lawn. (Huffington Post)

Growing numbers of Americans who have lost houses to foreclosure are landing in homeless shelters. (New York Times)

The entire financial crisis in seven minutes. (YouTube/iheartwallstreet)

One of the most powerful forces driving the resurgence on Wall Street is not the banks but Washington. Many of the steps that policy makers took last year to stabilize the financial system helped set the stage for this new era of Wall Street wealth. (New York Times)

The wages of the typical woman who had a job during the worst recession in decades rose faster than those of the typical man over the past two years. (Wall Steet Journal)

Malls and boutiques are filled with people these days, shoppers who have cut their spending — some drastically — during the downturn and are now suffering from what some call “frugal fatigue.” (Washington Post) We’ve felt it ourselves. (Recessionwire)

The recession we’re living through is hard on Americans of all ages, but it’s been particularly devastating for young adults. (Houston Chronicle)

Cemeteries are having trouble expanding because of the high cost of real estate and a drop in revenues as strapped families increasingly turn to cheaper cremations. (USA Today)

The Obama administration on Friday said the government ran a $1.42 trillion deficit in fiscal year 2009. That made it the worst year on record since World War II. (CNN/Money)

One in five metro areas went from being in a “recession” to being in “recovery” mode in August. This is the first time this year that any U.S. city has entered into recession recovery mode. (New York Daily News)

If you come across a good article or blog post about the recession pass it on. To receive Recession Briefing in your inbox, subscribe to our daily email.

Tags: economy, News, politics, Spending and Saving, video, Wall Street