Demographers like to refer to my cohort as Generation X. But anymore, when we talk about our growing up, my friends and I sound like Generation Recession. We grew up in the 1970s malaise. We graduated into the early 1990s contraction. And now we're looking at a wave of layoffs just when we're hitting the prime of our careers.
Because it's on my mind, I'll start the morning headlines with a Houston Chronicle story about school kids moving because their families have hit hard times. I'm guessing I'm not the only who has so been there.
From the Houston Chronicle: Schools say kids suffer as families move in weak economy.
From the BBC: U.S. rate cut toward zero expected/ Goldman Sachs reports huge loss/ Watchdog queried over Madoff case.
From the New York Times: Madoff case leaves charities reeling/ Retail prices fell at record rate in November/ Big oil projects in jeopardy.
From the Korea Herald: President Lee says economic crisis to peak in first half of 2009.
From Baseline Scenario: The new scenario.
From the Washington Post: The frenzy of collateralized debt obligations.