More rare color photos of the depression here

As seen on Yahoo News: “The most obvious way out of this mess is for bankers and developers to build or convert existing units into affordable studio apartments for the masses… Those kind of units created an on ramp to home ownership in the late 50s and early 60s. Instead, residential insiders are waiting for the country to be forced into some big public jobs initiative in hopes that property values can be propped up to levels that won’t massively threaten equity. They’re waiting for somebody to save them from the market instead of responding to it. Somebody’s got to take initiative. Will it be industry or government?”

I’m a little late on this (gulp, nine months late), but I found it interesting. From the U.S. Census Bureau, via Suite 101:

See also: My new favorite commercial

Get an overpriced degree from a diploma factory. (Plus two free movie tickets! Now that’s higher education.)

Now before any dreamy eyed Obama voters get offended by the timing of this, I’m in no way calling our nascent President a failure. I’m still hopeful. But as an American, I want answers, which is what good reporting should be seeking anyway. So why haven’t these questions been asked (or maybe I missed them)? (more…)

I interviewed Chris Anderson (Wired editor, Long Tail author) for a story I’m working on about the future of beta as it pertains to the web. While talking, I digressed to the subject of business models, to which he said, “I think launching without a business model is fine, if your costs are low enough.”

A year ago, I would have no problem agreeing with Anderson, especially given the low overhead qualifier. Google launched without a business model — why not? But in an depressed economy where credit is tight, consumers aren’t spending, and job security is threatened, I’m not so sure.

Convince me, dear reader: Is it ever okay to launch a company without a business model?

Lindsey and I gave few gifts for Christmas this year — virtually none to friends and family (gulp). I justified the stinginess given the imminent economic apocalypse.

Now, as the wee hours of Christmas are upon me, I feel like a grinch. Only I have no sleigh full of toys to return to double the size of my heart. Happy Holidays?

At least my three year-old is getting something.

Boston.com has published an interesting story surmising what a depression in the 21st century might be like. While the Great Depression and all its similarities to our current situation was very public, the New Depression (defined as a recession lasting a few years and unemployment upwards of 25%) will be very private, the article suggests, given the proliferation of the Internet to perform many daily duties including shopping, banking, entertainment, and communication. In short, author Drake Bennett expects long lines at the ER since people will drop their health insurance, a television boom since it’s the cheapest form of entertainment (movies and baseball were in the 30s, but not anymore), and barren suburbs due to crashing home values. Oh, and those shiny gadgets (bu-bye iPhones) will be traded in for reliable and durable tech like Nextel phones, and people will stop consuming organic food and other snobbery items because they’re too expensive.

[Thanks, Connor]

The following metaphor is reputedly written by David Kamerschen, a professor of economics at the University of Georgia. In it, Kamerschen makes a convincing case for equal taxation, one that I generally agree with.

But those substantial tax credits (read: the distribution of wealth) that I receive every year just for having kids are really, really nice. So consider me undecided on the matter (wink, wink).

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it would go something like this: (more…)

[Via email. Thanks, Tim.]