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Recession Briefing 10.29: Your Cash for Their Clunkers

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

The “Cash for Clunkers” program cost taxpayers approximately $24,000 for each extra vehicle sold when you factor in the cars which would have likely been sold anyway in the second half of 2009. (CNN/Money)

Remarkably, there has been a decline in deaths during the recession. The truth, little known but well documented, is that death rates decline and healthy living habits improve in tough economic times. (Fortune)

The economy grew at a 3.5 percent pace in the third quarter, the best showing in two years, fueled by government-supported spending on cars and homes. It was the strongest signal yet the economy entered a new phase of recovery. (AP)

What we often forget when we think about the Great Depression is that at several points the contemporary equivalent of “green shoots” led many to believe that the gloom had passed. (The Big Money)

At 17.3%, Detroit’s unemployment rate is highest in the nation. For the city’s unemployment to stabilize and eventually decline, economists say the jobless will just have to leave the Motor City. (CNN/Assignment Detroit)

A small but growing group of academics believe that the neoclassical mantra of constant economic growth is ignoring the world’s diminishing supply of energy at humanity’s peril, failing to take account of the principle of net energy return on investment. (Scientific American)

More than $1.2 billion in stimulus contracts have been awarded to companies that are ranked by one watchdog group as among the most egregious offenders of state and federal laws. (Washington Post)

The unemployment rate fell in September in most metro areas, although that’s largely because more people gave up on job searches than found new work. (AP)

Tough times can inspire lasting images. Here’s a photo album featuring evocative pictures from the recession. (Huffington Post)

A growing number of independent retailers are shutting down instead of sinking more money into new inventory. Others are cutting hours of operation, stocking goods under $100 and literally going the extra mile to make a sale by personally delivering some purchases. (Chicago Tribune)

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Tags: business, Cars, Detroit, economy, Great Depression, jobs, retail, The Unemployed Life