economy

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Queen Takes Lead in Royal Belt-Tightening

Royal Family curbs lavish lifestyle to commiserate with strapped Brits

(Newser) - The British, from PM Gordon Brown on down, are turning to the queen for leadership during tough economic times, the Telegraph reports. The monarch has been curbing indulgences and meeting with Britons feeling the impact of the slowdown. Princes Harry and William are falling in line, beefing up their public...

No Snow Job: Owner Wants $500K for Vail Parking Spot

Space at prime ski destination may appeal to recession-proof snow bunnies

(Newser) - America’s economy may be going downhill, but evidently not in the ski destination of Vail, Colo., where one resident is offering a parking space close to prime slopes for $500,000, the Vail Daily reports. “There’s always somebody out there who has money to spend on a...

Early On, Holiday Travel Going Smoothly

Few delays reported on roads, airports at start of Thanksgiving rush

(Newser) - Travelers breezed through airport terminals and drivers cruised open roads today, the effects of a sour economy blamed for keeping people closer to home at the start of the annual Thanksgiving rush. Even though gas prices fell and airlines offered last-minute deals, many Americans appeared to be skipping trips this...

Volcker to Chair an Economic Recovery Advisory Group

Ex-Fed Chief tapped to advise on topics from wages to recovery

(Newser) - Former Fed chief Paul Volcker will run a new non-partisan White House economic advisory board being crafted by president-elect Barack Obama, reports the Wall Street Journal. The group, to be comprised of independent experts, will give Obama a channel of economic advice that falls outside Washington's traditional bureaucracy.

Obama, Biden Will Huddle With Governors on Economy

GOP participants may resist further bailouts

(Newser) - Barack Obama and Joe Biden will discuss measures to help the ailing economy with America’s governors next Tuesday, the Wall Street Journal reports, with a two-hour, bipartisan working session in Philadelphia. GOP governors are “looking forward” to hearing Obama’s ideas, but will definitely bring plans of their...

Slump May Doom Clean Energy Initiatives

Some nations could fall back on fossil fuel

(Newser) - Just as global warming initiatives were gaining serious momentum around the world, the financial crisis looks like it's undermining both the political will and the math that support them, the New York Times reports. With gas prices plummeting, US automakers may be scaling back investment in new technology. In Europe,...

Thrift Helped Get Us Into This Mess
 Thrift Helped 
 Get Us Into 
 This Mess 
OPINION
Nov 25, 2008 10:09 AM CST

Thrift Helped Get Us Into This Mess

"Wealth effect" is playing out in reverse

(Newser) - Three factors are playing into the financial crisis, and it's time to recognize the culprit that accompanies the burst housing bubble and banking meltdown, Robert J. Samuelson writes in the Washington Post. The wealth effect—"the tendency of people to adjust their spending as their wealth changes"—...

Learn to Live With Less
 Learn to Live With Less 
OPINION
Nov 23, 2008 12:44 PM CST

Learn to Live With Less

Couple pledged to buy only necessities for 12 months

(Newser) - Light wallets may seem particularly woeful around the holidays, when cheer often comes with a retail pricetag. But shopping binges, while they may be satisfying, ultimately just add to overconsumption problems worldwide, Judith Levine writes in the Washington Post. So she and her partner tried something new: They went a...

'Public Sick of Partisanship': Lieberman
'Public Sick of Partisanship':
Lieberman
talk show roundup
Nov 23, 2008 12:00 PM CST

'Public Sick of Partisanship': Lieberman

Joe says Obama never called back; politicos talk bailouts on TV

(Newser) - Joe Lieberman told Meet the Press today that he regrets "some things I said in the heat of the campaign that I wish I'd said more clearly," and hopes Barack Obama will put, er, "country first" by leading in a bipartisan fashion. Lieberman said he called...

We Need New Leadership, Now
 We Need New Leadership, Now 
OPINION
Nov 23, 2008 6:32 AM CST

We Need New Leadership, Now

Washington's following 'business as usual' amid crisis

(Newser) - Washington is carrying out “business as usual in the most unusual economic moment of our lifetimes,” writes Thomas Friedman in the New York Times. It’s time for our leaders to wake up to the enormity of the financial crisis, the real "weapon of mass destruction,"...

Frazzled Investors Turn to Psychics for Help

Investors flock to psychics for economic insight

(Newser) - Maybe they failed to predict today's economy, but psychics are certainly profiting from it, the New York Times reports. Frustrated with traditional financial advice, many investors are booking appointments with soothsayers, who say their business is on the upswing. “Your mortgage agents, your realtors, your bankers, you can’t...

Oprah's Newest Favorite Thing: Thrift

Talk-show host's holiday goodie bag will be unusually downscale this year

(Newser) - Oprah’s favorite things this year are cheap, cheap, cheap, Us Magazine reports. The TV host, who usually gives away pricey items on an annual holiday show, will bow to the economy and push affordable stocking-stuffers instead. The Nov. 26 airing also includes DIY tips, with viewers meeting “a...

Putin Promises to Help Sliding Russian Economy

With many paychecks weeks behind, crisis reminds nation of '90s collapse

(Newser) - Vladimir Putin proposed steps yesterday to stabilize the Russian economy as layoffs and deferred wages cause rising insecurity about the nation’s finances, the Wall Street Journal reports. Russian firms now owe $145 million in delayed wages to 300,000 people, and those figures may actually be higher—a fifth...

Economy's Tanking Too Fast to Wait for Obama: Krugman

The downtime before inaguration could make things grimmer yet

(Newser) - The state of the economy right now reminds Paul Krugman a lot of the start of the Great Depression, including a lame-duck administration that seems to have no credibility, hence no influence on the markets, the columnist writes in the New York Times. Drastic damage was done to the country...

Bailout Wait 'Nerve-Wracking'
 Bailout Wait 'Nerve-Wracking' 
Nov 21, 2008 1:50 AM CST

Bailout Wait 'Nerve-Wracking'

Hearings 'more hostile than expected,' says Wagoner

(Newser) - Two grueling days of congressional hearings on a bailout for the auto industry were "hostile" and the wait for an answer is "nerve-wracking," General Motors CEO Rick Wagoner told the Detroit News yesterday. GM is ready now to show Congress detailed restructuring plans to convince lawmakers to...

In Need of a Buck, Many Donate Plasma

Donors seek 'a little extra gas money'

(Newser) - With unemployment and costs of living up, blood plasma donations are an increasingly popular option for those in need of a little extra cash, the Chicago Tribune reports. Donors compensated with $20 to $45 are an invaluable part of a $10 billion dollar industry that supplies drugs to fight hemophilia...

Rahm to CEOs: Get on Board With Health Care

'We’re going to have to do big, serious things,' staff chief tells council

(Newser) - Rahm Emanuel has avoided the spotlight since accepting the White House chief of staff job, but he was anything but shy last night at the Wall Street Journal CEO Council, challenging his high-powered audience to help on health care. “When it gets rough out there, a lot of business...

Consumer Prices Dive 1%, Biggest Drop in 61 Years

Oil's record decline leads to 1% overall drop

(Newser) - Consumer prices in the United States plunged by the largest amount in the past 61 years in October as gasoline prices dropped by a record amount. The Labor Department said today that consumer prices fell by 1% last month, the biggest one-month decline on records that go back to February...

Paulson: We're Doing the Right Thing

Bush administration 'creatively working' on financial crisis

(Newser) - On the eve of his testimony before Congress, beleaguered Treasury Secretary Henry Paulson used last night's speech to defend the administration's response to the nation's "unprecedented" financial crisis. Paulson said without the $700 billion Wall Street bailout, things would be even worse, ABC News reports. "It's hard to...

Healthiest US City Gets Moving
 Healthiest US City Gets Moving 
Nov 17, 2008 2:27 PM CST

Healthiest US City Gets Moving

Burlington, Vt., tops list due to active citizens; Huntington, W.Va., is unhealthiest

(Newser) - Burlington, Vt., is America's healthiest city, with 92% of residents reporting that they're in good or great health. A number of factors account for the gap between Burlington and Huntington, W.Va., which brought up the rear in the CDC's healthy-city rankings, the AP reports. Burlington's residents are younger on...

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