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Recession Briefing: Now, We’re in a Phase of Ambiguity

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

If the Great Recession has indeed relaxed its grip on American life, it has been replaced by something that might be called the Great Ambiguity — a time of considerable debate over the clarity of economic indicators and the staying power of apparent improvements. (New York Times)

92 percent of the top managers and directors at the top 17 companies that received TARP funds are still in their same positions. (The Big Picture)

Heather MacDonald writes that the recession of 2008-09 has undercut one of the most destructive social theories that came out of the 1960s: the idea that the root cause of crime lies in income inequality and social injustice. (Wall Street Journal)

The Jewish Theater of New York announced Monday that anyone on food stamps or Medicaid can see its upcoming production for just $5. Full-price tickets are $50. (Associated Press)

The number of Americans filing for personal bankruptcy rose by nearly a third in 2009, a surge largely driven by foreclosures and job losses. And more people are filing for Chapter 7 bankruptcy, which liquidates assets to pay off some debts and absolves the filers of others. (Wall Street Journal)

Last week Arianna Huffington exhorted Americans to yank their money out of big banks and open accounts at community banks instead. This is a great example of populist indignation made practical. It’s also a great example of why populist indignation shouldn’t drive policy. (The Big Money)

The U.S. public pension system faces a higher-than-expected shortfall of more than $2 trillion that will increase pressure on many states’ strained finances and crimp economic growth, according to the chairman of New Jersey’s pension fund. (Financial Times)

Consumer advocates say the race is on, as banks and credit card companies look for ways to make up the estimated $50 billion they’re about to lose when new credit card rules take effect. (ABC News)

Small businesses are still struggling to find financing, but for those seeking government-backed loans, the worst may be over. The Small Business Administration’s flagship lending program backed 37% more loans in its latest quarter than it did a year ago. (CNN/Money)

U.S. healthcare spending rose at the lowest rate on record in 2008 due to the recession, but still reached $2.3 trillion and devoured 16.2 percent of the U.S. economy, government analysts said in a report on Tuesday. (Reuters)

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Tags: health care, homes, recession, stimulus, Wall Street