The ongoing subprime meltdown is merely the first destructive wave of credit catastrophe to wash over Wall Street, according to Slate’s resident explainer. Americans drunkenly bandy credit around in several forms: mortgages are the most prevalent loans turning sour, but credit card debt, student loans, and auto loans are silently conspiring to threaten our macroeconomic well-being.
Today marks the 20th anniversary of the “Black Monday” crash of ’87, in which the stock market lost 22.6% in one day, the second largest one day percentage drop in history and one we’re not likely to see again any time soon.
If you’re blue, but not into treatments that require a prescription, hit the gym. In a recent study of 202 depressed adults, researchers found that those who participated in “group-based exercise therapy” showed the same results as those treated with antidepressants, while those who exercised at home showed slightly less improvement, and those who were given a placebo pill remained depressed.
From the ‘Morning Bummer’ department, I have an unfortunate cousin who is trapped in that infinitely recursive cycle of eating that happens when you eat because you are depressed and you are depressed because you’re fat. Weighing upwards of four bills, the woman will often come home from work, climb into bed and eat two full bags of Doublestuffed Oreos while watching television in a gloomy bedroom. She’s this really great, vivacious, knee-slapping personality, making it all even sadder that she could easily be featured as the mascot of Fat Chicks in Party Hats.