economy

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Obama: We're Not 'Out of the Woods Just Yet'

(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...

March Retail Sales Show Surprise 1.1% Drop

Blow to hopes that economy has hit trough

(Newser) - Retail sales fell unexpectedly in March, delivering a setback to hopes that the economy's steep slide could be bottoming out. The Commerce Department cited a 1.1% drop, the biggest decline in 3 months and a much weaker showing than the 0.3% increase that analysts expected. Falling auto sales...

In Recession, Teaching, Service Hot Jobs for Grads

Recession will effect talent flow for years to come

(Newser) - The dream of pulling in big bucks just out of college at a prestigious Wall Street job is fading in the face of the recession, and early signs point to public service, government, science, and education as today's emerging hot industries, reports the New York Times. The economy, combined with...

Frugalistas Rejoice: Recession Is a Validation

'Frugalistas' embrace new thrifty values

(Newser) - Shredding credit cards and buying less may sound like consumer America's version of hell, but some—especially those penny-pinchers long scoffed at as miserly—are downright gleeful. "This validates the choices I've made," one tells the New York Times. With the savings rate up a remarkable 4 points...

Pentagon Game Simulates Global Economic Warfare

The exercise showed China to be the savviest economic operator

(Newser) - Last month, the Pentagon hosted a new kind of war game, focused not on a “shooting war,” but on how hostile states might damage the US economy, Politico reports. Instead of decorated military brass calling the shots, shirt-sleeved hedge fund managers, academics, and executives played out scenarios shifting...

American Psyche Shows Recession Stress Fractures

70% fear family income loss

(Newser) - Depression is up as the US economy proceeds downward, but many of those complaining are not actually facing financial problems—they simply fear they could. “Even if you do everything right, something bad can happen to you,” says a woman whose doctor prescribed therapy. Polls find the economy...

Economy Sparked Recent Killing Sprees: Experts

57 kllled in mass murders in past month

(Newser) - With mass murderers having gunned down some 57 people in the last month, many observers say the troubled economy may be triggering the increase in such attacks, the Washington Post reports. “It could be the loss of a job, the loss of a lot of money in the stock...

Dr. Doom Still Gloomy on Economy
Dr. Doom
Still Gloomy
on Economy
Apr 7, 2009 9:43 PM CDT

Dr. Doom Still Gloomy on Economy

NYU's Roubini thinks more rough times lie ahead

(Newser) - Dr. Doom isn't ready to ditch his nickname. Nouriel Roubini, the New York University economist who predicted much of the current malaise, says he doesn't see a happy ending any time soon, Reuters reports. Although the stock market has generally performed well of late, he thinks it will be a...

Top CEOs Expect to Cut More Jobs

(Newser) - The unemployment rate now stands at a 25-year high of 8.5%, but the nation's CEOs say it's only going to get worse. Nearly three-quarters of the leaders of the nation's biggest companies expect to lay off more workers in the next 6 months, USA Today reports. That percentage—71%—...

Wedding Guest Lists Shrink Along With Budgets

Economy

(Newser) - With the economy slicing through earnings and savings, dream weddings are colliding with financial realities—resulting in trims to the guest list, and thorny problems choosing who makes the cut, the Boston Globe reports. The average guest list has shrunk to 139 this year, from 166 in 2007, analysts say;...

Hoe-town: 10K-Acre Farm Eyed for Detroit

Michigan investors seek to turn deserted streets into cropland

(Newser) - Motor City could turn into Maize City if a Michigan investment group has its way and turns 10,000 acres of largely deserted streets into farm plots, reports BusinessGreen. Hanz Group hopes eventually to acquire almost 10% of Detroit's 143 square miles for development into cropland, Christmas tree and lumber...

10 Recession Expenditures to Shut Up About
10 Recession Expenditures
to Shut Up About
OPINION
Apr 2, 2009 10:14 AM CDT

10 Recession Expenditures to Shut Up About

The economy has changed social etiquette

(Newser) - If you've got it, don't flaunt it. Forbes warns against boasting about these lavish purchases,:
  1. As your friends' faces get droopy, it's not cool to discuss cosmetic surgery splurges.
  2. The duck confit may have been exquisite, but resist describing a lavish meal.
  3. Lest you suffer the same scrutiny as Michigan's
...

Detroit Hopes for NCAA Boost
 Detroit Hopes for NCAA Boost 
Apr 2, 2009 8:03 AM CDT

Detroit Hopes for NCAA Boost

(Newser) - Downtown Detroit will be hopping this weekend, as hoops fans overrun the city for the Final Four. But outside the carousing along the city’s spruced-up main drag, things look as dire as ever, the Washington Post reports. One in five residents are unemployed, and abandoned homes and factories line...

Stressed Americans Still Spending Less: Poll

(Newser) - Americans are stressed about the economy and keeping their wallets shut, says a new ABC/Washington Post poll. While the number of Americans who say the economy is getting better is on the rise, that's not translating into shopping habits. Six in 10 say they feel stressed—half of those describe...

Boaters Jumping Ship in Troubled Times

Erstwhile skippers scuttle their craft for the insurance payout

(Newser) - Many boaters who bought their vessels during sunnier economic times are now regretting their purchases, and some of them are resorting to desperate measures, reports the New York Times. Facing hefty maintenance costs and docking fees, some skippers are simply cutting their crafts—often fully paid for—loose to drift...

Colleges Admit More Students Just in Case

(Newser) - Private colleges across the nation are boosting the number of students they're accepting and the length of their waiting lists in case applicants can't write the tuition check when the time comes, reports the Washington Post. Applications are at a record high 3 million, but universities fear students planning on...

Obama Fully Invested as CEO-in-Chief
 Obama Fully Invested 
 as CEO-in-Chief 
ANALYSIS
Mar 31, 2009 9:16 AM CDT

Obama Fully Invested as CEO-in-Chief

In Detroit and on Wall St., president decides to run things his way

(Newser) - Though he entered office with relatively little business experience, the past week has seen President Obama assume the role as “the most powerful player in American business today,” Mike Allen and Jim VandeHei write for Politico. “He’s realizing, ‘Hey, the economy’s mine now, and...

Big Strides in US Optimism, Poll Shows

Proportion who say country on right track doubles

(Newser) - American attitudes are showing signs of a turnaround in the 70 days since Barack Obama took the reins, a new ABC News/Washington Post poll reports. The percentage who say the country is headed in the right direction has more than doubled since the end of the Bush era—some 42%...

Uptick in Mass Murders Could Be Linked to Economy

(Newser) - The recent spate of shootings could point to a link between violence and the faltering US economy, the Christian Science Monitor reports. “Most of these mass killings are precipitated by some catastrophic loss, and when the economy goes south, there are simply more of these losses,” said criminologist...

Economic Hopes On the Rise: Poll

Past 2 weeks have seen steady rise in optimism

(Newser) - More Americans appear to have hope that the economy is finally back on track. Over the past two weeks, the percentage of Gallup responders who hold that the economy is getting better has continually increased. From Monday through Wednesday, that percentage—29%—was the highest it’s been since July...

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