The XX Factor

Recession Briefing 9.22

A broad survey of Americans has provided striking measures of the recession’s effect on life at home and at work: People are now stuck in traffic longer, less apt to move away and more inclined to put off marriage and buying a house . ( Associated Press )

The FDIC, which is rapidly running out of money after a wave of bank failures, is considering a plan to borrow money from some of the nation’s healthier banks in order to continue to rescue the sickest banks. ( New York Times )

The number of foreign-born residents of the U.S. declined for the first time since at least 1970 , as a recession and tight labor market dented America’s image as the land of opportunity. ( Wall Street Journal )

“The end of the world appears to have been postponed,” said Paul Krugman of the economic stimulus package at a seminar in Helsinki. The world economy “does not appear to be falling into an abyss but is still” in trouble. ( Bloomberg )

Long after the economy recovers, millions of Americans will be left with a grim legacy of the recession: damaged credit scores. ( USA Today )

A new study shows that people who “strategically default” on their mortgages often have high credit scores , in stark contrast with most financially distressed borrowers. ( Los Angeles Times )

The recession could lead to an explosion in sexual health problems and unplanned pregnancies , the head of a British agency has warned. ( BBC )

New data shows that Maryland is the state to head to if you’re looking for a fat paycheck : average household income there is highest in the country at $70,545. ( CNN/Money )

Small business owners in neighborhoods around New York City are banding together and waging campaigns to urge customers to “shop locally.” ( New York Daily News )

A “totally free yard sale” was set up recently in rural Pennsylvania so that community members could donate unwanted items to their struggling neighbors. ( Fox43 )