Media Frenzy Makes Recession Worse

(AP) - The economy is finally beginning to show signs of stabilizing in some parts of the US, bolstering hopes of a broader-based recovery this year. A Federal Reserve snapshot of economic conditions issued today finds that most of the Fed's 12 regions indicated either that "the pace of decline has moderated" or "that activity has begun to stabilize, albeit at a low level." The improved assessment raises hope that the recession, which started in December 2007, is drawing to a close. More»

(NEWSER) - President Obama has big plans for the economy, and that’s too bad because he knows nothing about it, Fred Barnes writes in the Weekly Standard. All of his proposals and angry jabs at Wall Street are counter to his professed interest in growth and job creation. “Obamanomics pays lip service to a free market economy,” Barnes writes. “But Obama hasn't a clue what makes it work.” More»

(NEWSER) - President Obama said today that the US faces a long slog in finding its way out of financial tumult, but emphasized that he is seeing signs of hope, the New York Times reports. "Times are still tough," he said. "By no means are we out of the woods just yet. But from where we stand, for the very first time, we are beginning to see glimmers of hope." While he issued no major policy initiatives, Obama reaffirmed his determination to reform Social Security, Medicare, and Medicaid, notes the Washington Post. More»

We're better prepared now, but rates are still tied to cultural trends

(NEWSER) - America is reeling from the financial crisis, and the psychological strain has analysts carefully watching national suicide rates, Time reports. Though three high-profile European businessmen took their own lives recently, suicide rates have held steady at 11 per 100,000 people; during the Great Depression, they spiked at 17 per 100,000. But there is still reason for concern, say some. More»

At least new industries arose in the 1930s: Leonhardt

(NEWSER) - There's never a Great Depression around when you need one, apparently. Despite its misery, "the United States economy was quietly making enormous strides during the 1930s," argues David Leonhardt in the New York Times . Americans were getting a better education—high school, back then—while industrious entrepreneurs were inventing television, mass marketing refrigerators, and improving railroads. "It would clearly be nice if we could take some comfort from this bit of history," writes Leonhardt. "If anything, though, the lesson of the 1930s may be the opposite one." More»