Word: classical
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There's good news too. The recession, which began in March and was officially declared on Nov. 26, already appears to be lifting. Last week came reports that housing starts and permits rose sharply in November. Home-builder stocks, classic early movers, have been on a tear. With the end in sight, here are some lasting lessons from an odd economic downturn...
...Lazy" (1924), Joan Morris and William Bolcom, on "Blue Skies: Songs by Irving Berlin" (recorded 1985, released 1990). Mezzo-soprano Morris and pianist Bolcom, those most joyful archivists of antique pop, turn this ode to indolence into a statement on the ecstasy of doin' nothin'. A classical classic...
...pain and pride to the Bronx and won three games there, snatching two with midnight dramatics. No sentimental ending, though. The Arizona Diamondbacks' spectacular pitching duo of Curt Schilling and Randy Johnson numbed Yankee bats in Phoenix, while a seventh-game, bottom-of-the-ninth rally provided a classic, and deserved, triumph for the home team...
...that we're in a recession, a lot of junk looks more valuable: those "classic" sport jackets in your closet, the aging but paid-for SUV in your driveway--and, get this, the bonds of companies with poor credit. That may sound crazy at first. Recessions are always tough on companies operating at the edge of solvency--those most likely to have high-risk, high-yield junk bonds outstanding. Yet diversified pools of these bonds typically do well at this point in an economic cycle...
...Copies sold last year of the J.R.R. Tolkien fantasy classic The Hobbit...