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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If the Great Recession has indeed relaxed its grip on American life, it has been replaced by something that might be called the Great Ambiguity — a time of considerable debate over the clarity of economic indicators and the staying power of apparent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)…
Recession Briefing: Take the Foreclosure Tour!
What you need to know today to survive and thrive in the recession.
Cape Coral, Fla., is a reluctant symbol for the excesses of the great American real estate bubble: foreclosed homes served up as tourist attraction. A shiny green tour bus takes speculators around the town looking for deals. Nearly a third of the houses in the area have been touched by foreclosure in the past three years. (New York Times)
With food-stamp use at a record high and surging by the day, an overlooked subgroup is growing: recipients with no cash income who live solely off of the government food subsidies. (New York Times)
As a result of the glut of foreclosures, agents and homebuilders across the country are complaining too many appraisals are coming in low, scuttling deals. The National Association of Realtors says nearly one in four of its members has reported clients losing a sale due to botched appraisals. (USA Today)
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