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Posts tagged as The Recession

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. :(

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. READ MORE

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! READ MORE

"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 imposing wall of stories, or maybe you'd like to start with this one and page back.

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. On the plus side, they have so much money that they wouldn't really notice the $1.3 billion disappearing into garbage investments—and meanwhile, many of the people mismanaging the money jumped ship for even-more profitable pastures when they saw the writing on the recession wall. Now much of Libya's money, which is essentially stolen from its citizens, is frozen, and Army leaders are defecting while NATO bombs and baloney "truce" talks occur.

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.

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." READ MORE

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. READ MORE

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? READ MORE

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?