OPINION
Now isn't the time for divisive legislative battles: Samuelson
Washington Post Dec 1, 08 1:55 PM CST
(Newser)
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When Barack Obama takes office, he’ll have to decide whether he wants to revive the economy, or pursue his policy agenda. “The two approaches are at odds,” writes Robert Samuelson in the Washington Post . Yes, Obama could say energy and health reform will improve the economy, but these initiatives will be “at best distractions,” and at worst legislative battles the US can’t afford.
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Non-traditional measurement based on employment, other statistics
MarketWatch Dec 1, 08 12:51 PM CST
(Newser)
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The US economy has been in a recession since employment peaked in December 2007, a committee of economists declared today. However, MarketWatch notes, the private National Bureau of Economic Research rejects the traditional metric that recession is defined as consecutive quarters of GDP decline, opting instead to look at four key monthly indicators, including employment, industrial output, and sales.
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TV stations replace veteran anchors with cheaper rookies
New York Times Dec 1, 08 8:25 AM CST
(Newser)
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Across the country, star local news anchors are signing off for good, the New York Times reports, as local network affiliates look for ways to cut costs, and find big anchor salaries tempting targets. Newscasters with more than 20 years behind the desk have been dropped in Chicago, Houston, Denver, and Boston. “I don’t think we’re going to see the anchor people grow old with the audience anymore,” said one casualty.
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Hard times encourage people to find inexpensive activities, poll finds
BBC Dec 1, 08 3:41 AM CST
(Newser)
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For those who can't afford to shop during the holidays, the British offer a suggestion: have sex instead. Love-making topped a list of increasingly popular cost-free activities, followed by window shopping and gossiping—which beat out sex among women—in a survey of 2,000 Brits. The findings coincide with a recent boost in condom sales, BBC reports.
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analysis
'Unimaginable' spending will mean WWII-sized deficit
Los Angeles Times Nov 30, 08 2:37 PM CST
(Newser)
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Washington's latest $1 trillion injection into the economy echoes Depression-era and WWII revival plans, but with a dangerous twist, writes Jim Puzzanghera in the Los Angeles Times . Even if the bailouts succeed, the government's mountain of debt will likely bury the next generation in high interest rates and inflation. And unlike Depression-WWII spending, today's rescue plans are not building new factories or creating new technologies.
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opinion
Use a signature gift to cut costs, give meaningfully
Los Angeles Times Nov 29, 08 4:10 PM CST
(Newser)
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Tight budgets are forcing Americans to skirt the season's traditional buying frenzy and make gifts that put "emphasis on people, not stuff," Melissa Magsaysay writes in the Los Angeles Times . She's creating "a creative signature gift" of Ugandan beads that she's turning into bracelets: The one-size-fits-all present "will make the recipient smile, think of me, and feel appreciated.”
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OPINION
There's no apocalypse out there
Wall Street Journal Nov 28, 08 1:10 PM CST
(Newser)
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This Thanksgiving, Peggy Noonan is thankful for what she’s not seeing. Despite the relentless glut of negative economic news, “everything looks the same,” she writes in the Wall Street Journal . There is no one selling pencils in the street, no children lining up in bread lines. “It’s as if the news is full of floods, but we haven’t seen it rain.”
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analysis
Pick for Council of Economic Advisers chair known for 'deft touch'
Politico Nov 28, 08 11:59 AM CST
(Newser)
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Relative unknown Christina Romer was a smart pick to lead Barack Obama's Council of Economic Advisers, Lisa Lerer writes for Politico. The Berkeley professor is a Depression expert, and "right now, you want a business cycle stabilization chair," one colleague said. She describes herself as having “liberal Obama-heavy political views,"but she shares Larry Summers' "centrist, pragmatic perspective on economic issues."
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New video ties terror wars to financial meltdown
Associated Press Nov 28, 08 10:58 AM CST
(AP)
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Al-Qaeda's No. 2 leader appeared in a new video posted today calling on Americans to embrace Islam to overcome the financial meltdown, which he said was a consequence of the Sept. 11 attacks and militant strikes in Iraq and Afghanistan. Ayman al-Zawahiri's 80-minute recording also lashed out at Afghanistan's government and said any US gains in Iraq will be temporary.
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OPINION
Solid picks win rare praise from former Bush deputy
Wall Street Journal Nov 28, 08 6:19 AM CST
(Newser)
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Karl Rove was pleasantly surprised by Barack Obama's choice of an economic team, the Republican analyst writes in the Wall Street Journal , singling out Tim Geithner and Larry Summers as solid picks. Geithner has played a key role in the current administration's handling of the financial crisis and will provide continuity, Rove observes, and Summers has a fine free-trade record.
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Former donors now need donations: bank director
Associated Press Nov 27, 08 5:24 PM CST
(AP)
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As millions of American families gathered to give thanks for what they have, food banks and shelters struggled to cope with a spike in demand for their services. "Food bank after food bank tells me it's new faces, people they haven't seen before," says one charity spokesman in Chicago. "They will tell you it's the worst it's ever been."
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Royal Family curbs lavish lifestyle to commiserate with strapped Brits
Daily Telegraph (UK) Nov 27, 08 1:15 PM CST
(Newser)
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The British, from PM Gordon Brown on down, are turning to the queen for leadership during tough economic times, the Telegraph reports. The monarch has been curbing indulgences and meeting with Britons feeling the impact of the slowdown. Princes Harry and William are falling in line, beefing up their public military schedules and scaling back social activities.
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