Recession Briefing 5.28

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

At a time when consumers are in a serious saving mode, why are sales of $100 yoga mats soaring? (Time)

Retailers and service technicians have long advised that it often makes sense to buy a new product rather than repair a broken one. But repairmen say many consumers are rejecting this suggestion and trying to spend as little as possible. (New York Times)

Nouriel Roubini, the famously glum economist who predicted the financial crisis, said that while the recession in the United States may well be over at the end of the year, another dip was still possible next year. (Reuters)

Recession Dispatch from…a New Yorker in Santa Monica

As a New Yorker, whenever I travel to California, I’m ever hopeful that I will adopt the effortless, easy happiness of the sunny residents. On my last visit two weeks ago, I wondered if the recession had made its mark the same way it has sent a dark hazy cloud over Manhattan. I stayed with friends, a talented singer-songwriting couple who live in the cozy, creative bungalow community of Santa Monica. They had just landed a very promising project, and living in their hotbed of musical activity, recessionary Manhattan felt far away.

The raw food restaurant next door to the yoga studio I frequented was doing brisk business. From my observation, the Santa Monica crowd thinks nothing of paying $8 for a smoothie or $22 for a yoga class…