Posts Tagged: The Recession
10

Today's Groupon: Helping People with HIV for Half Off

Today's New York City Groupon offering is a 50% discount at Housing Works' nonprofit thrift stores, which raise money to assist people living with HIV. For $20, you can receive $40 worth of things! Oh, just FYI: "A pair of designer shoes that sells for $40 in one of our stores provides ten days worth of hot meals for a homeless HIV+ mother and her child." Enjoy your discount. :(

100

"My family is eating stir-fried dandelions out of yards to keep from starving."

What are we to do about the disgusting plan to keep America's unemployment high? Since we're not marching on Washington, the right and the left aren't unifying on this issue on which we both agree and basically no one in the business world cares in the slightest, all we can do is create a few jobs ourselves and also keep putting out there what's really happening, which Yahoo!'s The Lookout is doing admirably. They've created a Tumblr where people tell their stories—lots of people. They got thousands of letters when they asked people to tell them what's really going on. You could just start here at the [...]

11

On Being Laid Off from Harper's

"Life at a publication such as Harper’s is far from easy. The pay is bad, chances for advancement are almost nonexistent (during my tenure at the magazine, only two people on the editorial staff received a promotion due to merit rather than attrition; I was one them), and with each day, the sense that the magazine and the nation’s readers hold less and less in common only seems to increase." —Theodore Ross on having just been laid off from Harper's after six years.

5

40 Million People Lived Off Unemployment? Everyone Start Hoarding!

"The White House made the case on Thursday that cutting off unemployment benefits would actually result in hundreds of thousands of more unemployed Americans." Ooh, hundreds of thousands? That's all you've got to scare Republicans into extending unemployment? Nice try! I mean, only 40 million people benefitted from unemployment since December 2007. (That's 14 million recipients, plus their households.) Besides, last week 436,000 applied for unemployment. Which is actually not far off from the two-year low! So what's a few hundred thousand more unemployed people?

7

The End of Prison as Rehabilitation

"Washington State Penitentiary will be one the state's eight major prisons locked down today as part of a budget-cutting exercise." [Related: the Walla Walla Union Bulletin's own budget-cutting exercises include omitting words such as "of."] But yes, going forward, the state prisons will lock down once a month to save money—though good news, prisoners "will be allowed out for meals"! Though they "will not be able to attend education classes, participate in treatment programs or go to work assignments." So it begins! Now with staff furloughs and full-on shut-downs, we can stop pretending that even America's non-privatized prisons are about reforming, when they're really just about incarceration.

1

Small Businesses Now More Worried About Poor Sales Than Taxes

That's unsurprising! The number of small business owners who cite "poor sales" as their "number one problem" has tripled in the last four years. Poor sales now beats "taxes" on the complaint list. When will Obama and those fatcats in Washington stop making people not buy things, etc.?

127

Why Is American Selfishness So Widespread Now?

I have been feeling a good amount of despair recently. Not on a personal level-I'm generally as happy-go-lucky as a leprechaun with a head injury. (It's weird!) But the constant reminder of the American lack of empathy is astounding. It's everywhere. (Do we need to drag in the case of the woman who attended the Glenn Beck rally in D.C. over the weekend and her point of view that Jesus would hate welfare?) And so it was with great wariness that I approached the comments section at the end of this first-person story by a man in Nevada who, driven into destitution by disability, family medical bills, [...]

13

UK Prime Minister Cancels Tuscan Holiday :(

One thing you don't want to do probably is go a-thieving in a total surveillance society. The Metropolitan Police have set up a Flickr account with pretty pictures of a few people who have apparently gone robbing in North London at some point before or after these images were captured. It's the modern version of the "WANTED" poster, but en masse. Of course, some people have taken to Tumblr to do this vigilante style. In less dramatic imagery of the day, people have apparently taken to the streets with brooms to tidy up. Awww! And more to be found here.

In other, totally unrelated [...]

3

Gaddafi Sachs: When Bad Things Happen to Bad People

It's the feel-good story of the morning: Goldman Sachs took $1.3 billion of Libya's money in 2008 and promptly turned it into no money at all, according to the WSJ: "The $1.3 billion of option investments were hit especially hard. The underlying securities plunged in value and all of the trades lost money, according to an internal Goldman memo reviewed by the Journal. The memo said the investments were worth just $25.1 million as of February 2010—a decline of 98%." That is particularly delightful. And then, the panicked firm offered the foul government a number of chances to make their money back, but nothing ever came of it. [...]

56

The Education Bubble

I have not always been a Peter Thiel fan—the PayPal founder and Facebook investor's politics and ideas are complicated and sometimes they stem from what I would consider psychological projections (see: affirmative action, although even in that case I totally agree with his embracing a larger concept of "diversity"!)—but honestly, I am on board with about 75% of this extended interview with him in the National Review. One idea in particular is extremely valuable, and we will all be talking about this a lot in the next decade: that America has group-hallucinated itself into an education bubble.

8

A Q&A With A Vacuum Cleaner Salesman

Darrell did not cry when the mortgage crisis killed new home construction, putting him out of work. Instead, he packed up his bags and joined his girlfriend in South Florida, where he found a new job as an in-home salesman, pushing expensive vacuum cleaners and air purifiers to snowbirds and other crazy Floridians. While Darrell is but one of hundreds of such salesman in the South Florida area, we have obscured the city in which he works and changed his name to protect his identity.

The Awl: Every day, you go into peoples’ homes and pitch them really expensive shit. How did you break into the in-home sales industry?

[...]
10

The Rain in Spain Something Something on the Debt-Ridded Homeless

I'm not quite sure what the Times means by "personal liability mortgages" in their fascinating story today on the insanity of foreclosures in Spain, because that phrase doesn't really exist in English. But, yow, I did have no idea that repossession wasn't the end of owing money on loans and mortgages, and that mortgage debt was excluded from bankruptcies in Spain. Maybe there are actually ways in which the U.S. looks out for individuals that is better for people than they way it is done in Europe! Huh. Still, it is hilarious to look back at this BusinessWeek article from 2007, which declares Europe's mortgage and housing and [...]

4

Trashing Out the Foreclosures: Paul Reyes, "Exiles in Eden"

Recently I went to visit an acquaintance who was trashing out his own condo. There were hinges to be pried out of doorways and appliances to take for eBay. The house had become inert, a non-house: trapped somewhere between the building's association who wanted the fees owed to pay for the building's roof and walls and the like, the people who wanted the property taxes to pay for things like schools and street lights and roads and the people who were in charge of collecting (or more likely not collecting) the mortgage for whomever actually owned the mortgage debt (at the end of that chain, quite possibly you [...]

19

I Was Briefly the Face of an Unemployed Generation

Three months ago, I posed for my college graduation photo-the official one in front of an American flag, diploma in hand, ready to face the world. Since then the photography company has emailed me almost weekly, offering discount upon discount and before-it's-too-lates. But when the picture was taken, just seconds after I had crossed the stage and shaken hands, I was too delirious to smile, so instead I bit my lower lip. I mean I almost swallowed it. I don't know how it happened. Normally, I have no trouble smiling. But I remember at that moment that the muscles would not contract into a casual, triumphant smile, that my [...]

9

Top Three Fun Facts About America Tossing People Overboard from '07 to '09

The IRS did an analysis of the 2009 tax year, and some interesting and not surprising things happened!

• More than 3% of households that had job income in 2007 had none in 2009.

• America's average household income fell 13.7% from 2007 to 2009.

• Two million fewer people filed tax returns from 2007 to 2009.

Goodbye! America doesn't need you.

0

Rich Man Buys Expensive House

Jack Meyer, who managed Harvard's endowment until 2005, at which point some people tried to run it into the ground, with a little help from pals from Goldman Sachs, while Meyer went off to run a hedge fund, just spent $15 million on a house in Dutchess County, so all's well that ends well.

3

Understanding the Difference Between Being Unemployed and Being Unemployable

The worst kind of job interview is over the phone. Who calls whom? Is my phone working? What if a creditor calls at the same moment the interviewer tries? Will the call be bounced? Will the recruiter leave a message? If they don’t call right away, how long should I wait until I call them? Do I even understand how my phone works? Do I even understand how interviews work? Should I shave?

In-person interviews, at least, have rules. Brush your teeth. Don't swear. But phone interviews? Once, a recruiter called me five minutes before the time we had set the interview. This really rattled me: I hadn’t [...]

12

What Fiona Did to Get Her Dream Job

A friend of mine recently graduated with a degree in public relations, minor in journalism. It was a pragmatic concentration balance on its face: one of these fields represented at least a modicum of investment toward gainful employment, the other did not. In a different time, my friend, we’ll call her Fiona, may have given herself over to the romantic notion of the well-traveled journalist, marrying her wanderlust and literary inclinations to a desire to do something in the interest of the public good. But she believed in realism and clear-eyed ambition. Cautious that the budgets to buoy any latent journalistic aspirations had gone the way of the dodo, [...]

30

How To Get A Bad Job That You Really Need

Here's advice on how to get jobs for which you may be wildly overqualified in case you have a useless college degree-jobs as diverse as running salad bars and stamping envelopes. The watchword is: Dress For the Job You Need, Not the Job You Totally Don't Have Right Now and Oh Man You Are So Screwed. Also don't tell them that you've had good jobs, in case you ever actually have. Pretend you've been at home taking care of some kids, in case you haven't been.

3

Why Won't Barack Obama Help Small Businesses? (Oh, That's Why)

The White House has released the text of the President's speech today. Part of it goes like this! "We know that in the final few months of last year, small businesses accounted for more than 60 percent of the job losses in America. That's why we've passed eight different tax cuts for small businesses and worked to expand credit for them. But we have to do more. And there's currently a jobs bill before Congress that would do two big things for small business owners: cut more taxes and make available more loans…. Unfortunately, this bill has been languishing in the Senate for months, held up by a [...]