The XX Factor

Recession Briefing 7.16

To deal with its recession tourism slump, Hawaii is considering the construction of a galactic etherport to fly tourists through space. ( The Atlantic )

The recession has failed to dampen philanthropic spir it , with many rich people increasing their charitable giving, according to a new report. ( Economist )

New York and California are usually the leaders in producing and losing millionaires. But a new study suggests that on a percentage basis, some smaller cities were hit harder in 2008. ( Wall Street Journal /Wealth Report )

A new forecast raised fresh doubts yesterday about how strong any economic recovery might be, as the Federal Reserve warned that the economy may not return to full health for at least five years . ( Washington Post )

More than two-thirds of American adults have turned to the Internet for help with recession-induced personal economic issues and to gather information on national economic problems , a study said. ( Reuters )

In tough financial times, people go to the movies. Movie theaters throughout the nation are packing them in, reporting sizable increases in ticket sales and overall attendance. ( San Jose Mercury News )

Law enforcement and securities officials say the recession is pushing more people to steal from well-off seniors. ( Boston Globe )

Peter Coy has five reasons why it’s too soon to declare the recession over. ( BusinessWeek )

The number of workers filing new claims for unemployment benefits fell sharply last week to the lowest level since January , but the seasonally adjusted data was again distorted by automotive industry layoffs. ( Reuters )

Foreclosures are continuing to set records despite the Obama administration’s $75 billion plan to help borrowers at risk of losing their homes. ( USA Today )