MetaFilter posts tagged with recession and depression

The new faces of day labor

Joe Beese — Wed, 11 Nov 2009 14:34:52 -0800

It sounds like a George Lopez joke. “Times are so bad that I saw an Anglo day laborer standing outside Home Depot the other day.” Except it’s true.

Recession over in France and Germany

malapropist — Thu, 13 Aug 2009 08:18:13 -0800

The economy is abjectly terrible, right? It's so bad that nowadays, a picture is only worth 200 words. On the other hand, the recession is over in Germany and France, and in the United States, the unemployment rate dropped just a smidgen last month. To be fair, the recession wasn't as severe in France and Germany, and didn't start so early. Still, this seems a far cry from talk of a second depression.

This is indeed the time to panic

WPW — Fri, 20 Mar 2009 01:36:32 -0800

Product Panic - Bruce Sterling on industrial design in the slump.

Hidey Hole

Joe Beese — Thu, 19 Mar 2009 13:59:45 -0800

It's scary out there. It can make you just want to hide.

Follow the flowcharts

desjardins — Sat, 14 Mar 2009 16:06:24 -0800

Vizualizations and infographics to help you understand the financial crisis

"Because the math is really complicated people assume it must be right."

dersins — Tue, 10 Mar 2009 12:36:14 -0800

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] They failed.

Prescient Economist: Housing Crash Result of Government Incentives

shivohum — Wed, 11 Feb 2009 21:37:24 -0800

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."

15 Companies That Might Not Survive 2009

CunningLinguist — Wed, 11 Feb 2009 08:53:14 -0800

Say goodbye to Blockbuster, Sbarro's, Rite Aid, Krispy Kreme and Chrysler. 15 US companies that probably won't make it through 2009.

We Never See A Headline / 'Bout A Breadline / Today

Asparagirl — Mon, 02 Feb 2009 15:46:37 -0800

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.)

Religious takes on the global financial crisis

desjardins — Wed, 14 Jan 2009 15:04:30 -0800

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.

Ladies And Gentlemen… Dow 25,000!

Yakuman — Sat, 10 Jan 2009 12:14:33 -0800

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.

Down, down, down.

CheeseDigestsAll — Tue, 09 Dec 2008 18:28:57 -0800

By one measure, this stock market is as bad as any in the last 180 years.

Almost Homeless

divabat — Sun, 07 Dec 2008 23:57:10 -0800

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)

Sad Guys on Trading Floors.

longdaysjourney — Wed, 08 Oct 2008 09:53:32 -0800

Sad Guys on Trading Floors. (via)

Are US Inflation and Employment Underestimated?

salvia — Mon, 05 May 2008 07:55:16 -0800

"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. According to Barry Ritholtz of the Big Picture blog, "the longstanding official myth that [US] inflation is modest and contained is starting to be recognized for the fraud that it is." He believes that these bad statistics give false answers to even bigger questions, like "are we in a recession?" A New York Times graphic shows what's in this basket of consumer prices, which prices are going up, and which are not. To learn more about what's not counted, visit Shadow Government Statistics, which tracks (for subscribers) what inflation would be under earlier formulas. (Previously.)

Soros: Financial crisis as bad as the Great Depression

stbalbach — Mon, 28 Apr 2008 10:09:29 -0800

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)

Contemporary Hooverville

MythMaker — Tue, 18 Mar 2008 11:02:27 -0800

Tent cities spring up in L.A. With foreclosures rates still rising, shantytowns have started springing up in Los Angeles.

matteo — Fri, 07 Jul 2006 07:45:41 -0800

Teenage Hoboes in the Great Depression. During the Great Depression over 250,000 young people left home and began riding freight trains or hitchhiking across America. Most of them were between 16 and 25 years of age. Many finally found work and shelter through the Civilian Conservation Corps, a government relief project that Franklin D. Roosevelt established in 1933 as part of the New Deal. From 1933 to 1942, CCC enrollees built new roads, strung telephone wires, erected fire towers, and planted approximately 3 billion trees. By 1935, the program was providing employment for more than 500,000 young men.