Latest news with #GreatRecession
New York Times
an hour ago
- Entertainment
- New York Times
Party Drugs, Bikers, Hit Men: It's Crime Fiction, Florida Style
FLORIDA PALMS, by Joe Pan 'Florida Palms,' by Joe Pan, is the kind of debut novel that wears its regionalism proudly on its sleeve. Within the first three pages, its teenage protagonists, Eddy and Cueball, have shown us how to behead a catfish, use a paper clip to convert a Dr Pepper can into a hash pipe, and harvest sand fleas with PVC pipes to use as bait for Gulf Coast pompano. Our young heroes live lives of quiet intoxication in a brackish part of Central Florida during the Great Recession, and the author certainly seems to know the lay of the land. Pan has more in mind than a sympathetic portrait of the so-called Other America, however. 'Florida Palms' is a crime novel, if one in fancy dress, and the palms of the book's title are more than just a threadbare tropical cliché: They're the emblem of a northwest Florida narcotics gang, for which Cueball and Eddy will soon be doing things far more sinister than decapitating catfish. The two friends are well adrift in their deep-fried, aimless final year of high school when Cueball's father, a paternalistic biker and ex-con named Bird, presents them with a devil's bargain — entry-level positions in a distribution network for a brand-new party drug, somewhat bluntly named 'shank,' that promises to make kingpins of them all. They say yes. Spoiler alert: Things go wrong, then wronger. The pleasure here, as any noir fan can tell you, lies less in the larger plot points than in the specifics (a mark surprised by a hit man while half-naked and painted to look like a chicken, the handlebars of a biker's chopper decorated with a human kneecap) and in the overall vibe of doom — a musky, Florida-specific stew of sweat, blood, swamp gas and amphetamine addiction. 'Eddy's stomach churned,' we read in the first chapter, during what prove to be our hero's last moments of comparative innocence. 'Was he sick or having a good time?' The answer, both for Eddy and for us, turns out to be a combination of the two. Perhaps Pan's finest achievement is the novel's heavy: a professional killer and all-around dirty-deeds man with the improbable moniker of Gumby. A self-loathing psychopath with a spiritual relationship to knife work, Gumby recuperates from the stresses of his day job by hunting endangered Florida panthers. The chapter in which he initiates a panicked Cueball into his grisly trade is arguably both the book's fulcrum and high point, and his closing monologue will stay with me for a while: 'You did it. My boy. You know what you've gained here, son? You know what you now possess? The multitude. The whole world's yours to lean on.' Want all of The Times? Subscribe.
Yahoo
2 days ago
- Business
- Yahoo
Toronto-Dominion Bank: A Top Dividend Play in the Financial Sector
The Toronto-Dominion Bank (NYSE:TD) is included among the . A local business owner signing a loan agreement with a banker. Throughout the Great Recession, while many major US banks were compelled to reduce their dividends, TD Bank managed to keep its payout unchanged. Even when its US division faced a money laundering scandal that led to a hefty regulatory fine and an asset cap, the bank still went ahead with a dividend increase despite the challenges. Remarkably, the bank has consistently paid dividends since 1857. The Toronto-Dominion Bank (NYSE:TD) reported solid quarterly performance, driven by strong trading and fee income in its markets-focused businesses, along with growth in deposits and loans within its Canadian Personal and Commercial Banking segment. The bank also indicated that its US balance sheet restructuring is progressing as planned, while steady progress is being made on anti-money laundering remediation efforts. The Toronto-Dominion Bank (NYSE:TD) currently offers a quarterly dividend of C$1.05 per share. The company has been growing its dividends for 10 consecutive years, making it a reliable option for income investors. The stock has a dividend yield of 4.17%, as of July 15. While we acknowledge the potential of TD as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
2 days ago
- Business
- Business Times
‘Vibecession' 101: Are we in a recession – or just feeling one?
[SINGAPORE] The economic numbers may seem alright. But talk to fresh grads struggling to find jobs, or young workers watching their spending, and the sentiment feels… off. Welcome to what economic commentator Kyla Scanlon calls a 'vibecession'. It's when the public feels like the economy is worse than the numbers say. It's not about gross domestic product (GDP). It's about rising costs, shaky job prospects, global uncertainty and social media timelines full of people doomposting about their finances. Online, this dissonance has taken on a life of its own, with the practice of calling everything a 'recession indicator' having become a meme catchphrase. Lady Gaga being back on the charts? The last time she served this hard, we had an economic recession, says this TikToker. People stealing forks and plates from a hawker centre? It's a recession indicator. Even Labubu hasn't been spared. 🍕 Pizzas, underwear and lipsticks I did some digging into this and – jokes aside – there may actually be some truth behind these tongue-in-cheek observations. A NEWSLETTER FOR YOU Friday, 3 pm Thrive Money, career and life hacks to help young adults stay ahead of the curve. Sign Up Sign Up Take the pepperoni price index, where higher sales of expensive frozen pizza could indicate that the economy isn't well. The idea is this: When people cut back on eating out, they don't buy cheaper food. They trade down from restaurants to the most bougie frozen pizza they can find. This played out in the US in 2009, during the Great Recession and during the pandemic, Business Insider reported. Alan Greenspan, the longest-serving US Federal Reserve chairman, famously tracked the sales of men's underwear, which is usually stable. However, on the few occasions when sales dipped, that meant that men were so strapped for cash they were deciding not to replace their underwear, he explained. Meanwhile, the so-called lipstick effect suggests that people splurge on small luxuries, like beauty products, when they can't afford bigger purchases. Michael Burry, the investor featured in The Big Short for famously predicting the 2008 crash, recently sold off nearly all of his stock holdings and doubled down on just one: Estée Lauder. There's the hemline index, which claims skirts get longer when times are hard. Or that upbeat, bubblegum pop songs tend to dominate the charts during economic downturns as listeners turn to escapism. 🔢 What do the numbers say? In the US, economic data is a bit mixed, with some indicators showing strength and others suggesting potential weakness. In the first quarter of 2025, real GDP growth was negative, indicating that the economy shrank from the previous quarter. It's worth noting that there's no official definition for what a recession is. You could say it's just vibes, though it's generally understood to be more than a few months of decline in economic activity. If we're talking about a technical recession, though, then that's defined as two consecutive quarters of decline in a country's real GDP, i.e. GDP that's been adjusted for inflation. If second-quarter results turn out negative, then the US would be in a technical recession. And when the US sneezes, the world catches a cold. Here in Singapore, official stats suggest that things aren't that bad. Singapore's economy avoided a technical recession in the second quarter, growing 1.4 per cent compared with the first quarter, when GDP contracted by 0.5 per cent. On a year-on-year basis, the economy grew by a better-than-expected 4.3 per cent. Inflation has also cooled. While there has been growing public attention on the employment struggles of fresh grads, Singapore's tariff taskforce said that things are actually improving. Based on a 'very preliminary' Ministry of Manpower study, the employment rate as at June 2025 for fresh grads was 51.9 per cent, marginally higher than the June 2024 rate of 47.9 per cent. ⚖️ Why the vibes matter While people often bring up recession indicators half-jokingly, they point to a growing sense that people are cutting back, changing financial habits or quietly bracing themselves for one. Even the official narratives are one of caution. Despite the surprisingly high Q2 GDP results, the Ministry of Trade and Industry continued to flag 'significant uncertainty and downside risks' from tariffs in the second half of the year. It didn't change its official forecast range of 0 per cent to 2 per cent, which was set shortly after America's 'Liberation Day' tariffs, though some economists are expecting the ministry to raise its forecasts soon. The Monetary Authority of Singapore has also warned that Singapore's GDP growth is likely to slow as it expects tariffs to drag down global economic activity. The sentiment is pretty clear. The numbers don't yet show it, but the caution, hesitation and general 'meh' mood is real. Kyla Scanlon's idea of a vibes recession isn't just a meme. It captures a significant disconnect between the economic recovery reported on paper and the real sense of unease being felt by people everywhere. And when enough people feel anxious, they can behave in ways that affect the actual economy. To some extent, that's already showing in Singapore. Businesses are more hesitant to hire and bracing for the impact of tariffs. Singaporeans are also tightening their belts when it comes to eating out. Globally, more people are heading back to school – which itself is another recession indicator. Whether or not a downturn is official, the fear of one can feed on itself and turn it into a self-fulfilling prophecy. For now, take these quirky indicators for what they are – a reflection of public sentiment, not hard economic science. How you feel about the economy isn't irrational. But it isn't always the full story. Or maybe the vibes just haven't translated into economic data – yet. Either way, the advice for preparing for uncertainty remains the same. If you've got a job, try to hold onto it and don't switch unless you have something else lined up. Avoid taking on bad debt. If you're job-hunting or freelancing, try to shore up an emergency fund and avoid big-ticket commitments. TL;DR
Associated Press
3 days ago
- Entertainment
- Associated Press
‘Recession pop' and new Christian music surge in the US as streaming growth slows
— In the U.S. and globally, more music is being streamed than ever before... — But growth has slowed. — And in the U.S. specifically, there's been a resurgence in Christian music and 'recession pop.' In its midyear report, Luminate, an industry data and analytics company, provides insight into changing behaviors across music listenership. A decrease in growth, an increase in volume Music streams continued to grow globally and stateside in the first half of 2025. Global on-demand audio streams reached 2.5 trillion in the first half of 2025 — up from 2.29 trillion in the same period last year. And in the U.S., on-demand audio streams grew to 696.6 billion in 2025, compared to 665.8 billion in 2024. But even though more music is being streamed than ever before, compared to past years, the rate of growth is slowing down. In 2024, U.S. and global on-demand audio streams grew 8% and 15.1%, respectively. In 2025, those numbers have dropped to 4.6% and 10.3%. In the US, Christian music and recession pop are making a comeback In the U.S., streaming accounts for 92% of all music consumption. On-demand streams were up in 2025 as physical and digital album sales dropped. R&B/hip-hop remains the most popular genre in terms of on-demand audio streaming volume, followed by rock, pop, country and Latin. The same was true in 2024. What's interesting are the highest-growth genres: Rock leads stateside, followed by Latin, country, and Christian/gospel music. Though streams of new music — music released in the last 18 months — are slightly down from the same time last year, new Christian/gospel music has defied that trend, said Jaime Marconette, Luminate's vice president of music insights and industry relations. It is led by acts like Forrest Frank, Brandon Lake and Elevation Worship. He attributed the genre's growth to 'younger, streaming-forward fanbase,' which is 60% female and 30% millennial. 'Recession pop' — the term for upbeat hits like Kesha's 'Tik Tok,' Miley Cyrus' 'Party in the U.S.A.' and other carefree pop music that emerged in 2007-2012 around the time of the Great Recession — has also seen a jump this year. Luminate found that U.S. on-demand audio streams of pop music from that era have increased 6.4% in 2025. Songs from Cyrus, Bruno Mars, Lady Gaga and Rihanna lead the shift. 'We're actually seeing pop music from those years outpace the growth of the industry at-large,' adds Marconette. 'When looking at performance of all genres from that period, listeners are gravitating toward pop in particular, highlighting a sense of nostalgia and potentially bigger themes of escapism.'
Yahoo
4 days ago
- Business
- Yahoo
FINRA Foundation Releases Sixth Wave of the National Financial Capability Study
Findings Reveal Decline in U.S. Adults' Ability to Make Ends Meet and Save for Emergencies, More Households Strained by Increased Costs, and the Struggle of the Middle-Income Group Also, 20% of U.S. Adults Interested in Getting Financial Advice from Artificial Intelligence WASHINGTON, July 16, 2025--(BUSINESS WIRE)--The FINRA Investor Education Foundation (FINRA Foundation) released today its sixth wave of the National Financial Capability Study, an expansive source of data and insights about the financial lives of U.S. adults that has been conducted every three years since 2009. Following a 12-year period of sustained improvements in many of the key areas of financial capability included in the National Financial Capability Study—from the Great Recession of 2009 through the COVID-19 pandemic—the latest findings reveal an overall pattern of decline in U.S. adults' ability to make ends meet and save for emergencies. While the comprehensive study shows no signs of overall declines in income, the findings show that increased costs have put more households under strain than in previous waves of the study. The findings also indicate what can be described as a "struggle of the middle." In many of the demographic breakdowns on measures of financial capability, the middle groups (those with annual household incomes between $25,000 and $75,000, those with some college education but no degree, and those between the ages of 35 and 54) appear to share many of the struggles of those in lower income households, without any college experience and younger cohorts. This is especially apparent in measures of difficulty making ends meet, the impact of higher food costs, setting aside emergency funds and engaging in expensive credit card practices. "The 2024 National Financial Capability Study reveals a concerning shift in Americans' financial resilience. After more than a decade of improvements, we're seeing many households—particularly in middle-income brackets—struggling financially despite stable incomes. This 'struggle of the middle' signals that rising costs are creating financial strain across a broader segment of the population," said Gerri Walsh, President of the FINRA Foundation. "The FINRA Foundation's National Financial Capability Study serves as an important barometer of Americans' financial health. By tracking trends over time and exploring the nuances of financial behaviors and attitudes, this study identifies areas where more support and education can create positive impact," said Jonathan Sokobin, FINRA Foundation Board Chair and Chief Economist at FINRA. "This study is a vital resource that policymakers, researchers, educators, firms and financial professionals can use to better understand and address the financial capability needs of Americans." The National Financial Capability Study focuses on four components of financial capability: Making Ends Meet. In contrast to the generally positive trends seen from 2009 through 2021, the 2024 data show substantial declines in many of the key measures of making ends meet. More U.S. adults report that they are spending more than their income, and fewer say they are satisfied with their overall financial condition. Two-thirds say that increased food costs have caused them to cut back on other spending. The sub-topics covered include: Covering expenses Feelings about personal financial condition Financial fragility Income shocks and income volatility Informal work activities Intergenerational wealth transfer Behavioral signs of financial stress Medical expenses Effects of inflation Severe weather and finances Planning Ahead. The percentage of U.S. adults who say they have set aside enough money to cover three months' worth of living expenses in case of an emergency dropped to 46 percent from 53 percent in 2021. The percentage saving for retirement varies greatly by education level: 80 percent of college graduates have a retirement account, in contrast to 37 percent of those with no college experience. In response to a new question, 20 percent of adults say they would be interested in getting financial advice from artificial intelligence. The sub-topics covered include: Rainy day funds Planning for retirement Saving for college Investing Risk preferences Financial self-efficacy Personal finance technology Artificial intelligence Managing Financial Products. Eighty-one percent of U.S. adults use their mobile devices to access their checking or savings accounts, and over half use mobile devices to make in-person purchases (53 percent) and to transfer money to other people (65 percent). The percentage of respondents saying they always pay their credit cards in full each month (53 percent) has decreased by six percentage points relative to 2021, ending the steady increase seen over the previous five waves of the National Financial Capability Study. Twenty-three percent say they have used Buy Now Pay Later services in the last 12 months. The sub-topics covered include: Banking and payment methods Home ownership and mortgages Credit cards Student loans Non-bank borrowing Buy Now, Pay Later Overall debt Credit scores Financial Knowledge. The percentage of respondents correctly answering at least four of five financial knowledge quiz questions has held steady since 2021. Men are more likely than women to answer the quiz questions correctly, though the gap appears to be closing with successive generations. The proportion of respondents who answer the inflation question correctly has increased by five percentage points relative to 2021, with the performance of those aged 18 to 34 improving by ten percentage points. The sub-topics covered include: Financial literacy Self-perceptions of financial knowledge and ability Financial education Related Information: In April, the FINRA Foundation previewed the state-by-state findings for financial knowledge and inflation from the National Financial Capability Study. NOTE: The FINRA Foundation will hold a virtual press conference about the sixth wave of the National Financial Capability Study at 11 a.m. E.T. today. Unauthorized use of the press conference video or audio is not allowed. Please reach out to media@ by 10:45 a.m. to register. About the National Financial Capability Study In 2009, the FINRA Investor Education Foundation launched the first national study of financial capability of adults in the United States. Since its start, the National Financial Capability Study has provided data on multiple indicators of capability—including financial behaviors, attitudes and knowledge. National Financial Capability Study survey data is collected every three years. The 2024 survey, conducted from June through October, represents the sixth wave of data. Each wave of the study has data from more than 25,500 U.S. adults across all 50 states and Washington D.C. (500 per state/D.C.), and findings can be reported at both the state and national level. The sixth wave has been updated to include new questions on timely topics, including inflation, artificial intelligence and Buy Now, Pay Later, borrowing, among other topics. This extensive body of data is available for free to the public and researchers. More information about the FINRA Foundation's National Financial Capability Study, including reports and data from previous waves of the study and interactive data visualizations, can be found here. About the FINRA Investor Education Foundation The FINRA Investor Education Foundation supports innovative research and educational projects that empower Americans with the knowledge, skills and tools to make sound financial decisions throughout their lives. For more information about FINRA Foundation research and education initiatives, visit About FINRA FINRA is a not-for-profit organization dedicated to investor protection and market integrity. FINRA regulates one critical part of the securities industry—member brokerage firms doing business in the U.S. FINRA, overseen by the SEC, writes rules, examines for and enforces compliance with FINRA rules and federal securities laws, registers broker-dealer personnel and offers them education and training, and informs the investing public. In addition, FINRA provides surveillance and other regulatory services for equities and options markets, as well as trade reporting and other industry utilities. FINRA also administers a dispute resolution forum for investors and brokerage firms and their registered employees. For more information, visit View source version on Contacts media@ Sign in to access your portfolio
