Posh Resort Offers $19 Empty Room —With Tent

Sky isn't falling for many, but barrage 'crackling with panic' makes us feel that way

(NEWSER) - There’s no doubt the economy is bad. The of flood sky-is-falling news stories make that abundantly clear. But the avalanche of bad news—delivered faster than ever before through myriad, ever-present media outlets—has fed upon itself, sinking all of us into a deeper state of collective panic than in previous downturns, David Carr writes in the New York Times. More»

(NEWSER) - Avon's cosmetic-toting army is growing as troubled economic times make door-knocking more attractive to women struggling to make ends meet, reports the Wall Street Journal. Incentives including price cuts, gas vouchers, and advice from celebrity financier Suze Orman, helped attract 5% more sales reps in the second quarter of this year, after years of thinning ranks. More»

UK economic chief bluntly warns of harder times ahead

(NEWSER) - The outlook for Britain's economy is the bleakest since the days when the country was rebuilding from the Blitz, Chancellor Alistair Darling tells the Guardian. Darling warns that the downturn for the UK and the wider world could be "more profound and longer-lasting" than people expect. He acknowledges that voters are "pissed off" with the Labour party, and him personally. More»

WSJ poll sees big shift toward the negative from survey five weeks ago

(NEWSER) - A cascade of bleak financial news has convinced most economists in a Wall Street Journal poll that the US is already in a recession. The results are markedly more negative than a similar survey only five weeks ago, and much of the foul mood can be traced to last week’s dismal employment report. “The evidence is now beyond a reasonable doubt,” said one. Of the 51 economists polled, 71% said recession had arrived. More»

'Boomerang kids' have trouble finding well-paying work

(NEWSER) - As many as three out of 10 young adults are moving back in with their parents—resulting in the highest share of 18- to 34-year-olds living with multiple generations since the 1950s—after finding themselves unable to find lucrative employment in this dismal economy. They're dubbed "boomerang kids" because they depart for school or work only to return to the nest, but surprisingly, reports the Christian Science Monitor , 78% say they're happy living at home and 24% say it's positive for their relationship with their parents. More»