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The American Dream is Dead–Long Live the American Dream
The American Dream is dead– and it ain’t a bad thing.
In a recent survey by Context-Based Research Group, a Baltimore consumer anthropology firm, 78 percent of respondents said they believed the AD was kaput. But they also agreed that it should be, because the dream has become defined by what you can buy, rather than by freedom and ideals.
If there’s one thing we learned in the past few years, it’s that lots of things are more important than money. So here’s some more good news: Those surveyed said they had taken steps to spend less (85 percent) and had de-cluttered their homes (61 percent). Well, now that all that stuff is gone, what’s taken its place? People…
Recession Briefing 4.20
What you need to know today to survive and thrive in the recession.
Men are bearing the brunt of jobs losses in the U.S., opening up the largest gap in male-female unemployment since records began. Men have lost nearly 80% of the jobs that have been eliminated since the recession began. (Financial Times)
Despite receiving massive bailouts from the government intended to jumpstart lending, the largest banks made or refinanced 23% less in new loans in February than in October. (Huffington Post)
There has been some evidence in the last few months that the housing bust may be nearly finished. Three key pieces of housing-related data coming out this week will provide a reality check. (Washington Post)
Older consumers have become a more coveted target market for advertising from major corporations. The recession makes older consumers who may have paid off mortgages seem a safer bet than younger ones who may get laid off. (New York Times)
Many laid-off folks are turning entrepreneurial and starting small businesses. One in four workers who have not found jobs is considering launching a business, according to a new CareerBuilder.com survey. (USA Today)
If you come across a good article or blog post about the recession pass it on.
Best Twitter Feeds for the Recession
Still getting used to the verb “tweet?” It seems like practically everyone is Twittering.
If you haven’t set up a Twitter account yet, here’s a good reason to do so: people are putting great information out there that can help you get through the recession. Everything from finding a job to shopping deals and the latest recession news. We combed the Twittersphere to find useful, unique and consistent feeds…
Recession Briefing 2.13
What you need to know today to survive and thrive in the recession.
25 People to Blame for the Financial Crisis (Time)
Picks for the top 25 people to blame for the financial crisis includes everyone from former Federal Reserve chairman Alan Greenspan and former President George W. Bush to the former CEO of Merrill Lynch and you–the American consumer.
No One Home: 1 in 9 Vacant (USA Today)
The surge in empty houses, condominiums and apartments is creating a wave of problems for communities desperate to shore up property values and tax revenues that pay for services.
Obama Wants to Pay Mortgages? (Reuters)
In a major break from existing aid programs, the plan under consideration would seek to help homeowners before they fall into arrears on their loans. Current programs only assist borrowers that are already delinquent.
R.I.P. to Employer-based Health Care: Author Matt Miller Talks to RW
Has America has been in the thrall of “Dead Ideas”? That’s how Matt Miller sees it, and his book is a showdown with conceptual baggage that weighs us down. The Tyranny of Dead Ideas exposes outdated ways of thinking, from the notion that companies should provide health care and pensions for workers to the modern antitax obsession. Some of these Dead Ideas were born during an era when American businesses faced little global competition. Others grew out of the self interest of a small number of people who don’t want to share society’s resources. Miller, a leading business and political thinker and author of The Two Percent Solution, talks to Recessionwire about “Dead Ideas” we need to chuck and “Destined Ideas” we ought to embrace.
RW: Which Dead Idea do we most urgently need to get rid of?
Redux: Will the Recession Spark a Music Revolution?
Little known fact: Many of America’s quintessential cultural elements – the hamburger, the hotdog, Hollywood, baseball, horse-racing and rock-and-roll, to name a few – can be traced to Great Depression. We’ve been shocked into recalling that financial markets feature cycles of contraction and expansion. But culture does, too. Oddly, these cycles appear to be inverted. When the market contracts, culture seems to expand. Innovators emerge, values shift, and tastes change. People begin to play outside the box.
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