Warren Buffett says his favorite economic indicator (last 30sec) is the FTSI or Freight Transportation Services Index (blue line). Since 1979, across four recessions, the index "shows a strong leading relationship to the economy", with an acceleration of freight leading the economy "by an average of approximately 4 to 5 months". Explanation of the index (recommend PDF version), most recent analysis (July 2009).
posted by stbalbach on Jul 9, 2009 - 28 comments

The New York Times commissioned Portuguese photographer Edgar Martins to travel around the United States and take photographs of abandoned construction projects left in the wake of the housing and securities market collapse.
posted by acb on Jul 7, 2009 - 225 comments

Since 1870, the Hatton Ferry in Hatton, VA, has been helping people and vehicles cross the James River - under pole power [ferry is cable-assisted, and poling starts at 3:42]. Before the nation was connected by a network of bridges, pole barges like this were a common means of transportation across smaller waterways. Hatton Ferry is thought to be the very last working survivor of those thousands of the pole-driven ferries; but today, due to DOT budget constraints, it may go out of existence. [more inside]
posted by Miko on Jul 1, 2009 - 21 comments

Canning makes a comeback. Is it just another foodie trend? Or is canning back for good? [more inside]
posted by sararah on Jun 30, 2009 - 106 comments

Too Poor to Make the News "The super-rich give up their personal jets; the upper middle class cut back on private Pilates classes; the merely middle class forgo vacations and evenings at Applebee’s. In some accounts, the recession is even described as the “great leveler,” smudging the dizzying levels of inequality that characterized the last couple of decades and squeezing everyone into a single great class, the Nouveau Poor, in which we will all drive tiny fuel-efficient cars and grow tomatoes on our porches.

But the outlook is not so cozy when we look at the effects of the recession on a group generally omitted from all the vivid narratives of downward mobility — the already poor. From their point of view “the economy,” as a shared condition, is a fiction."
posted by nooneyouknow on Jun 17, 2009 - 74 comments

Parents can no longer support their hipster children's lifestyle. Oh, the humanity. I realize that schadenfreude is a particularly ignoble emotional response, but how am I expected to control myself after reading: [more inside]
posted by mojohand on Jun 8, 2009 - 238 comments

Is the recession behind a decline in birth rates? The US Census seems to indicate it and now research from the UK seems to be saying the same thing. Some people spotted signs of the trend last year and now it seems the predictions are becoming true. For some, declining birth rates are a problem, for others its the answer to all our problems.
posted by mandeville on Jun 4, 2009 - 17 comments

Standard & Poor’s changed the UK's credit outlook from stable to negative a few days ago, and warned that there is a chance the UK could lose its AAA rating. Meanwhile, Moodys, another of the big 3 rating agencies, has warned that the US might also eventually lose its AAA rating. The UK announcement caused sterling to drop by 1% and the FTSE by 2%. However, many blame the same rating agencies for their part in triggering the subprime crisis. The irony of this is not lost on the Wall Street Journal, who note that "After all, those governments are jacking up spending, in part, to bail out the financial firms who gobbled up those 'AAA' asset backed securities duly blessed by the credit ratings firms." [more inside]
posted by memebake on May 26, 2009 - 38 comments

In these hard economic times, everyone's feeling the pinch. Some farmers have started downsizing to miniature cows.
posted by grapefruitmoon on May 25, 2009 - 35 comments

Unemployment: good for the heart and the soul. "In studies over the past 10 years, Ruhm has consistently found death rates decline during recessions and rise when the economy expands. If unemployment rises 1 percent, he estimates the death rate will fall by about half a percent."
posted by dersins on Apr 27, 2009 - 38 comments

Are times of recession good or bad for the contemporary art market and artists? "Affordable" is becoming a leitmotif: there are events, international fairs, as well as various galleries. Some collectors and artists are sharing survival tips and tricks; and there are plenty of special offers to be had: Josh Poehlein - screenshot collages, free ; Shepard Fairey - "Obey Eye" screen print, 18 x 24 inches, signed and numbered, at a random time on April 21st: $45.00 ; Michel Gondry - your portrait, signed: $19.95 (allow 6 to 8 weeks for delivery); 'Damien Hirst' - "For the love of Paris" postcard, 10.5 x 14.8 cm, signed and sent: € 1,80 ; Banksy - original, freely usable, high-quality jpg files: free.
posted by progosk on Apr 16, 2009 - 31 comments

"We're a demonstration project, if you would, of all the things that can go wrong at once." "You know Yolanda, I think most people watching this interview think to themselves that if they get cancer and they don't have health insurance that somebody’s going to take care of them," Pelley remarked. "No, no, there's nobody to take care of you," she said. [more inside]
posted by availablelight on Apr 6, 2009 - 85 comments

Dear FileFront User: We regret to inform you that due to the current economic conditions we are forced to indefinitely suspend the FileFront site operations on March 30, 2009. If you have uploaded files, images or posted blogs, or if you would like to download some of your favorite files, please take this opportunity to download them before March 30th when the site will be suspended. We would like to give a warm thank you to all of you who have been part of the FileFront communities we have built together. Your support has had a meaningful impact for all of us here at FileFront. Again, we want to give you a sincere “thank you” for your support over the years and wish you all the very best. Keep gaming alive, FileFront Management and Team.
posted by lazaruslong on Mar 26, 2009 - 34 comments

Twilight Of The Autocrats: Will the global economic downturn usher in a new era of democracy, or will things only get worse? [first link via]
posted by Inspector.Gadget on Mar 24, 2009 - 16 comments

What do the following cars have in common? The Chrysler Neon. The Daihatsu Charade. The Dodge Viper SRT-10. The Ferrari SuperAmerica. The Fiat Croma. The Hummer H2. The Hyundai Terracan. The Hyundai Trajet. The Rover 75. The CityRover. The Smart Cabrio. The Tata Safari. Give up? Each one of the cars listed above sold exactly one new (as in, not previously registered) unit last year in the UK, according to the Daily Telegraph. This makes them the most exclusive cars of 2008.
posted by clevershark on Mar 20, 2009 - 62 comments

Product Panic - Bruce Sterling on industrial design in the slump.
posted by WPW on Mar 20, 2009 - 20 comments

It's scary out there. It can make you just want to hide.
posted by Joe Beese on Mar 19, 2009 - 75 comments

Eddie Doyle, 69, has been laid off from his job in Boston. Who is Eddie Doyle? Nobody special, just a bartender at a bar in Boston (that used to be) called The Bull & Finch. If that doesn't sound familiar, you might have seen the outside of it in the credits of a little television show in the 80s. The show brought thousands to the bar each day but the current recession has taken its toll and the owner, who has been friends with Eddie for 40 years, had to make some tough choices. [more inside]
posted by tommasz on Mar 15, 2009 - 37 comments

Vizualizations and infographics to help you understand the financial crisis
posted by desjardins on Mar 14, 2009 - 14 comments

They are known as “quants” because they do quantitative finance. Seduced by a vision of mathematical elegance underlying some of the messiest of human activities, they apply skills they once hoped to use to untangle string theory or the nervous system to making money. "They Tried to Outsmart Wall Street." [spoiler inside] [more inside]
posted by dersins on Mar 10, 2009 - 38 comments

The world's economic crisis has cost more men their jobs than women in Western countries. But in Asia and most of the developing world, the economic meltdown has a woman's face. The Toronto Star: Today, International Women's Day, women celebrate the gains made in achieving equal rights and highlight the widespread wrongs that damage the lives of the 3.3 billion females around the world. But the issue foremost in women's minds is the global recession, which has hit the most vulnerable half of humanity with exceptional force. The Bangkok Post: The latest International Labour Organization (ILO) report revealed that the global unemployment rate could rise as high as 7.1% in 2009, compared to 6% in 2008. What is worrying is that the consequences of the global crisis could come knocking on your door. What was the global economic crisis last year could easily become a global social crisis this year. [more inside]
posted by KokuRyu on Mar 9, 2009 - 7 comments

"Iceland is no longer a country. It is a hedge fund." Also: exploding Range Rovers and the environmental impacts on elves. (Pre-vi-ous-ly.)
posted by shii on Mar 4, 2009 - 86 comments

Newly jobless and homeless former members of the Japanese upper or upper-middle class are turning to a distinctly 21st century version of the flophouse, the net room: a tiny cubicle, rented by the day, with that all-important feature... an internet connection and a computer. [more inside]
posted by flapjax at midnite on Feb 27, 2009 - 41 comments

" ... the recession, particularly if it turns out to be as long and deep as many now fear, will accelerate the rise and fall of specific places within the U.S.—and reverse the fortunes of other cities and regions." From The Atlantic Online - How the Crash Will Reshape America
posted by Afroblanco on Feb 15, 2009 - 69 comments

Peter Wallison, an economist who arguably predicted the housing crash and bailout in 1999 explains his current views on the crash: "Other players...played a part" but "...government policy over many years--particularly the use of the Community Reinvestment Act and Fannie Mae and Freddie Mac to distort the housing credit system-- underlies the current crisis."
posted by shivohum on Feb 11, 2009 - 98 comments

Say goodbye to Blockbuster, Sbarro's, Rite Aid, Krispy Kreme and Chrysler. 15 US companies that probably won't make it through 2009.
posted by CunningLinguist on Feb 11, 2009 - 228 comments

Trump Entertainment is about to run out of the third extension of its debt payments. Station Casinos is offering its investors as little as 10 cents on the dollar in a pre-packaged bankruptcy. Wynn Resorts is cutting staff hours and bonuses to avoid layoffs. MGM Mirage may see a default rate of 30% on its City Center condominiums. Harrah's long-term debt has doubled. There are no more traffic jams on the Strip. Oh... and the Borgata Hotel in Atlantic City had to settle a $70 million sexual harassment lawsuit brought by its beverage servers. In short: times are tough.
posted by Joe Beese on Feb 9, 2009 - 61 comments

LayoffDaily.com -- thoroughly cataloging each day's depressing layoff news, from the very small companies to the very large, and updated several times a day. (But there's also a small section of the site devoted to news of companies and government org's that are hiring.)
posted by Asparagirl on Feb 2, 2009 - 42 comments

The Alternative Comics Apocalypse Has Begun [more inside]
posted by KokuRyu on Feb 1, 2009 - 68 comments

Dating A Banker Anonymous Are you or someone you love dating a banker? If so, we are here to support you through these difficult times. Dating A Banker Anonymous (DABA) is a safe place where women can come together – free from the scrutiny of feminists– and share their tearful tales of how the mortgage meltdown has affected their relationships. Via
posted by ColdChef on Jan 28, 2009 - 167 comments

The Dalai Lama blames the financial crisis on a decline in spirituality. Hindus blame it on greed. Saudi Grand Mufti, Abdul Aziz al-Sheikh, blames the crisis on ignoring God's rules. Jewish scholars say we could have avoided a crisis by following Talmudic traditions. Pope Benedict sees the global financial system as "self-centred, short-sighted and lacking in concern for the destitute." Is it right to pray for the economy? (a Christian perspective). A Malaysian conference brings together Buddhists, Christians, Muslims, Hindus, Taoists, and Sikhs to discuss the crisis.
posted by desjardins on Jan 14, 2009 - 93 comments

Ladies And Gentlemen… Dow 25,000! A few years ago, some financial wizards thought the good times would go on and on and on. The mega-market could bring Dow 30,000 or Dow 36,000. Maybe the real estate boom will not bust.
posted by Yakuman on Jan 10, 2009 - 52 comments

Book sales are down. Powells, the largest independant bookseller in the US, is asking staff to scale back hours or take sabbaticals. Will you buy a book from an independent bookstore this Christmas?
posted by Artw on Dec 12, 2008 - 193 comments

By one measure, this stock market is as bad as any in the last 180 years.
posted by CheeseDigestsAll on Dec 9, 2008 - 21 comments

Ex-Director of Operations of Sababa Toys Paul Nawrocki lost his job after the parent company filed for bankruptcy. Posting, faxing, and emailing thousand of copies of his resumes (including through LinkedIn) did not get him anywhere, so he's resorted to standing at a Manhattan street corner wearing a sandwich board saying "Almost Homeless". Business blogger Barry Ritholtz blogged about Nawrocki, which led to a Businessweek interview describing his difficulty affording his wife's medical needs or even the cost of relocation. He's been noticed by an executive recruiting firm, and a job-hunting website was made in his honour. Will his Depression-era tactic bring him luck in this recession? (Via MetaChat)
posted by divabat on Dec 7, 2008 - 59 comments

Nassim Nicholas Taleb, author of the award-winning book The Black Swan, (previously), was interviewed recently by Charlie Rose: A conversation about economics with Nassim Taleb (as well as Time Magazine.) Taleb is more pessimistic than Nouriel Roubini, (previously, previously) who thinks that the total sum for this current global meltdown may be somewhere between 10-20 Trillion US dollars.
posted by gen on Dec 5, 2008 - 19 comments

In economic hard times, public libraries generally get a lot busier. With that in mind, here's a handy list of the top 20 things librarians in public libraries wish patrons knew or did (original article here).
posted by The Card Cheat on Nov 26, 2008 - 115 comments

Anatomy of a Meltdown - Ben Bernanke and the financial crisis (in one page)
posted by Gyan on Nov 24, 2008 - 61 comments

CIBC's Jeff Rubin and Peter Buchanan have written an article (pdf, pages 4-6) arguing that triple digit oil prices (and not plunging real estate prices) are to blame for the current economic woes of the OECD. [via]
posted by adamdschneider on Nov 7, 2008 - 41 comments

Another economic post. With the debt and equity markets in a comparative calm, a lot of people are asking what next? One area little examined is the idea of sovereign risk. Basically, those with the armies make to rules, and you don't want to be invested there when they change the rules,. The USA has been the power behind globalisation for over half a century, enforcing the rules of the marketplace we have grown to accept. Some are questioning whether it can maintain this position. [more inside]
posted by bystander on Nov 3, 2008 - 15 comments

Sad Guys on Trading Floors. (via)
posted by longdaysjourney on Oct 8, 2008 - 54 comments

U.S. Republican presidential nominee Senator John McCain may be computer illiterate, but his campaign does think highly of eBay. Sen. McCain and Governor Palin have each suggested eBay as a fix for the economy, tool for government reform, and strategy for homeland security. Perhaps it's because former eBay CEO Meg Whitman, in spite of disagreeing with parts of his technology platform, is co-chair of McCain's campaign?
posted by Chinese Jet Pilot on Oct 1, 2008 - 24 comments

While Gerorge Soros and Jim Rodgers predict one of the worst recessions for the US, Americans seem to look for exit options in form of a second citizenship. [more inside]
posted by yoyo_nyc on Jun 10, 2008 - 128 comments

"Hard Numbers: The Economy is Worse than You Know" [full article for Harper's subscribers, a different abridged version] discusses how the Consumer Price Index and other US economic statistics have been manipulated over time. Among other things, the article claims, these changes make Social Security checks 70% lower than they would otherwise be. [more inside]
posted by salvia on May 5, 2008 - 73 comments

The Financial Crisis: An Interview with George Soros. "We are in the midst of a financial crisis the likes of which we haven't seen since the Great Depression." (video, April 4)
posted by stbalbach on Apr 28, 2008 - 56 comments

Tent cities spring up in L.A. With foreclosures rates still rising, shantytowns have started springing up in Los Angeles.
posted by MythMaker on Mar 18, 2008 - 81 comments

Carmen Reinhart of the University of Maryland and Kenneth Rogoff of Harvard University have compared the recent US subprime mortgage crisis with five downturns in industrialized economies in the past 30 years in their brief paper, Is the 2007 U.S. Sub-Prime Financial Crisis So Different? (pdf). Their conclusion: “given the severity of most crisis indicators in the run-up to its 2007 financial crisis, the United States should consider itself quite fortunate if its downturn ends up being a relatively short and mild one.” Summarized, with some data and charts, here. Via.
posted by ibmcginty on Feb 9, 2008 - 19 comments

You Can Almost Hear It Pop, by Stephen S. Roach
The Facts Say No, by Marcelle Chauvet and Kevin Hassett
Bet the House on It, by Laura Tyson
Not if Exports Save Us, by Jason Furman
Nobody Knows, by James Grant
Wait Till Next Year, by Martin Feldstein

Stolen, HTML and all, from Calculated Risk.
posted by Kwantsar on Dec 16, 2007 - 24 comments

Is Jay-Z signaling a recession? There is something quite alarming on the recently released “Blue Magic” music video ... it wasn’t sex, drugs, violence or explicit language that shocked my conscience. It was the Euros. The Jay-Z video flashed large stacks of $500 Euros. When I start seeing rap stars flashing euros instead of U.S. dollars, I know our economy is in trouble.
posted by azazello on Nov 5, 2007 - 88 comments

On Tuesday, the Federal Reserve cut interest rates by 0.5%. Wall Street aggressively demanded the cut to stop the sub-prime mortgage contagion from triggering a credit crisis among large US and foreign investment banks and the collapse of their over-leveraged hedge funds, which ultimately threatened to drag the US economy into recession. The market rallied this week in response to the Fed's move. But there is no free lunch. [more inside]
posted by Pastabagel on Sep 20, 2007 - 99 comments