Professional 3D animation, accurately reconstructed to match the event.

YouTube - Hudson River Plane Landing (US Airways 1549) Animation with Audio

My father’s experiences were broadly shared throughout the country. Although times were perhaps worst in the declining rural areas of the Dust Bowl, every region suffered, and the residents of small towns and big cities alike breathed in the same uncertainty and distress. The Great Depression was a national crisis—and in many ways a nationalizing event. The entire country, it seemed, tuned in to President Roosevelt’s fireside chats.

The current economic crisis is unlikely to result in the same kind of shared experience. To be sure, the economic contraction is causing pain just about everywhere. In October, less than a month after the financial markets began to melt down, Moody’s Investor Services published an assessment of recent economic activity within 381 U.S. metropolitan areas. Three hundred and two were already in deep recession, and 64 more were at risk. Only 15 areas were still expanding. Notable among them were the oil- and natural-resource-rich regions of Texas and Oklahoma, buoyed by energy prices that have since fallen; and the Greater Washington, D.C., region, where government bailouts, the nationalization of financial companies, and fiscal expansion are creating work for lawyers, lobbyists, political scientists, and government contractors.

The Atlantic Online | March 2009 | How the Crash Will Reshape America | Richard Florida

Short of opening a Radio Shack in an Amish town, Dubai is the world’s worst business idea, and there isn’t even any oil. Imagine proposing to build Vegas in a place where sex and drugs and rock and roll are an anathema. This is effectively the proposition that created Dubai - it was a stupid idea before the crash, and now it is dangerous.

Dubai threatens to become an instant ruin, an emblematic hybrid of the worst of both the West and the Middle-East and a dangerous totem for those who would mistakenly interpret this as the de facto product of a secular driven culture.

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But if there is one problem with the shallow and the fickle, its that they are shallow and fickle, they won’t put down deep roots and they won’t remain loyal to Dubai. The people who appear in People magazine need to be told what is cool by Wallpaper magazine who in turn will discover something after the hipsters have moved on. The problem is that Dubai was never hipster-cool and is no longer Wallpaper-cool. This realization will have the same impact as suburbanite bachelorette party in a Wallpaper-cool nightclub. It will spread like the sighting of a floating turd in a public pool, flushing people to the exits with silent panic, unacknowledged for fear of embarrassment.

As people scramble for the exits in Dubai, there is no ‘key mail’, like in America, where people can often mail back their house keys and walk away from a mortgage without the immediate threat of jail. People are literally fleeing this place, to date leaving 3000 cars stranded at the airport with keys still in the ignition. And the reason for this is that if you default on your Dubai mortgage, you can end up in a debtors prison. Perhaps Dubai will at least create a new Dickens?

Goodbye Dubai | Smashing Telly - A hand picked TV channel

This is because when times get really bad, as they did when the Soviet Union collapsed, lots of people just completely lose it. Men, especially. Successful, middle-aged men, breadwinners, bastions of society, turn out to be especially vulnerable. And when they just completely lose it, they become very tedious company. My hope is that some amount of preparation, psychological and otherwise, can make them a lot less fragile, and a bit more useful, and generally less of a burden.

ClubOrlov: Social Collapse Best Practices

Although his presidency is barely a week old, some of Mr. Obama’s work habits are already becoming clear. He shows up at the Oval Office shortly before 9 in the morning, roughly two hours later than his early-to-bed, early-to-rise predecessor. Mr. Obama likes to have his workout — weights and cardio — first thing in the morning, at 6:45. (Mr. Bush slipped away to exercise midday.)

He reads several papers, eats breakfast with his family and helps pack his daughters, Malia, 10, and Sasha, 7, off to school before making the 30-second commute downstairs — a definite perk for a man trying to balance work and family life. He eats dinner with his family, then often returns to work; aides have seen him in the Oval Office as late as 10 p.m., reading briefing papers for the next day.

“Even as he is sober about these challenges, I have never seen him happier,” Mr. Axelrod said. “The chance to be under the same roof with his kids, essentially to live over the store, to be able to see them whenever he wants, to wake up with them, have breakfast and dinner with them — that has made him a very happy man.”

Daily Routines: President Obama

MILF fighters told not to use cell phone during combat

GMANews.TV - MILF fighters told not to use cell phone during combat - Regions - Official Website of GMA News and Public Affairs - Latest Philippine News - BETA

All along two contrasting views have been held on what ails the financial system. The first is that this is essentially a panic. The second is that this is a problem of insolvency.

Under the first view, the prices of a defined set of “toxic assets” have been driven below their long-run value and in some cases have become impossible to sell. The solution, many suggest, is for governments to make a market, buy assets or insure banks against losses. This was the rationale for the original Tarp and the “super-SIV (special investment vehicle)” proposed by Henry (Hank) Paulson, the previous Treasury secretary, in 2007.

Under the second view, a sizeable proportion of financial institutions are insolvent: their assets are, under plausible assumptions, worth less than their liabilities. The International Monetary Fund argues that potential losses on US-originated credit assets alone are now $2,200bn (€1,700bn, £1,500bn), up from $1,400bn just last October. This is almost identical to the latest estimates from Goldman Sachs. In recent comments to the Financial Times, Nouriel Roubini of RGE Monitor and the Stern School of New York University estimates peak losses on US-generated assets at $3,600bn. Fortunately for the US, half of these losses will fall abroad. But, the rest of the world will strike back: as the world economy implodes, huge losses abroad – on sovereign, housing and corporate debt – will surely fall on US institutions, with dire effects.

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The correct advice remains the one the US gave the Japanese and others during the 1990s: admit reality, restructure banks and, above all, slay zombie institutions at once. It is an important, but secondary, question whether the right answer is to create new “good banks”, leaving old bad banks to perish, as my colleague, Willem Buiter, recommends, or new “bad banks”, leaving cleansed old banks to survive. I also am inclined to the former, because the culture of the old banks seems so toxic.

By asking the wrong question, Mr Obama is taking a huge gamble. He should have resolved to cleanse these Augean banking stables. He needs to rethink, if it is not already too late.

FT.com / Columnists / Martin Wolf - Why Obama’s new Tarp will fail to rescue the banks

Some guys go for the backlash beard — ungroomed growth meant to defy the fussy scrubs and sprays of yesterday’s metrosexual. Others sport recession stubble: 5, 6 and 7 o’clock shadow in desperate need of a time clock. There are beards grown on bets, mustaches that raise money and whiskers worn simply (and sensibly) for winter warmth.

And then there are your ’stachinistas.

Hairy economy trend: Beards are back - Skin and beauty- msnbc.com

Disney's net income falls 32%

We knew it would be ugly. Now we're starting to see just how hard the economic meltdown is hitting showbiz.

Disney kicked off what's likely to be a grim earnings season in the media sector by posting on Tuesday a 32% drop in net income for the first quarter. Overall revenue slumped 8% to $9.6 billion, and net income was $845 million.

Can anyone... put this in context? Has it ever gotten this bad this fast other than the slide towards the depression?

Disney's net income falls 32% - Entertainment News, Entertainment Industry & the Economy, Media - Variety

So, yes, Friedman is suddenly an environmentalist of sorts.

What the fuck else is he going to be? All the other ideas he spent the last 10 years humping have been blown to hell. Color me unimpressed that he scrounged one more thing to sell out of the smoldering, discredited wreck that should be his career; that he had the good sense to quickly reinvent himself before angry gods remembered to dash his brains out with a lightning bolt. But better late than never, I suppose.

Or as Friedman might say, "Better two cell phones than a fish in your zipper."

Someone Take Away Thomas Friedman's Computer Before He Types Another Sentence | The Smirking Chimp