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Wednesday, June 1, 2011

BREAKING NEWS: At Least 4 Dead in Mass. Storms

Officials say at least four people are dead after two tornadoes swept through western and central Massachusetts

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Today in Slate: Why Not Let Defendants Pay for Their Own Imprisonment? Plus, Why iTunes Should Work Like Chrome

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Today: June 1, 2011

The Rent Isn't Too Damn High

The Rent Isn't Too Damn High

Why it's good news that more Americans are renting rather than buying homes.

By Annie Lowrey

READ FULL STORY | More Business and Tech

I Hereby Agree to Every Future iTunes Update

I Hereby Agree to Every Future iTunes Update

All software should work like Chrome and install fixes silently.

By Farhad Manjoo

READ FULL STORY | More Business and Tech

The Crowd Is Wise—but Can It Draw?

The Crowd Is Wise—but Can It Draw?

I offered the amateurs on Crowdspring.com $200 to design a logo for my newsletter. Here's what they came up with.

By Rob Walker

READ FULL STORY | More Arts

German Communities That Murdered Jews in the Middle Ages Were More Likely To Later Support the Nazis

German Communities That Murdered Jews in the Middle Ages Were More Likely To Later Support the Nazis

The Incredible Talent and Tragic Decline of Gil Scott-Heron, the "Godfather of Rap"

The Incredible Talent and Tragic Decline of Gil Scott-Heron, the "Godfather of Rap"

Why Not Let Defendants Pay for Their Own Imprisonment?

Why Not Let Defendants Pay for Their Own Imprisonment?

Help! My Formerly Fat Friend Won't Stop Flaunting Her Weight Loss.

Help! My Formerly Fat Friend Won't Stop Flaunting Her Weight Loss.

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Today's Cartoon: Taking It On the Road

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Cartoon by Jim Morin.

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Culturebox: Facebook Music

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Why we all love Explosions in the Sky.
By Mike Spies
Posted Wednesday, June 1, 2011, at 7:51 AM ET

Ralph Waldo Emerson. Click image to expand.Before Explosions in the Sky, some background:

In June of 1838, Ralph Waldo Emerson, writing in his journal, observed, "A man must have aunts and cousins, must buy carrots and turnips, must have barn and woodshed, must go to market and to the blacksmith's shop, must saunter and sleep and be inferior and silly." This is transcendentalism at its most practical, intended for people who, unlike Emerson's moody disciple, Thoreau, don't have the time to sit by a pond and complain about society. Were that the case, we'd all be living in Portland, Ore., making Bright Eyes records. Instead, we live on the Internet, which is why this quote is oddly relevant, as we seem to have, unconsciously, absorbed its practical lesson.

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Mike Spies is on the editorial staff of The New Yorker.

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Moneybox: The Rent Isn't Too Damn High

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The Rent Isn't Too Damn High
Why it's good news that more Americans are renting rather than buying homes.
By Annie Lowrey
Posted Tuesday, May 31, 2011, at 5:51 PM ET

Is renting really better? Click image to expand.Today's news that national housing prices have double-dipped to a new recession-era low is grim for homeowners, home sellers, banks, builders, and the president. Prices are down in 19 of the 20 biggest metro regions--Washington, D.C., is the exception. And given the 1.9-million-house backlog in the foreclosure pipeline, nobody expects prices to rebound any time soon.

But these data can be interpreted another way. The American economy is making a significant shift from buying to renting, and that may ultimately be good news. According to a USA Today analysis of Census data released this weekend, since 2006, the number of households that rent has grown by about 700,000 a year, while the number of households that own has fallen by about 200,000 a year. One reason is macroeconomic. The unemployment rate remains high and wages are down, meaning many people simply cannot afford to buy a house. Plus, nobody wants to take the risk of selling into a down-market. But there are also indications that Americans are electing to rent--and that is a very good sign.

To continue reading, click here.

Annie Lowrey reports on economics and business for Slate. Previously, she worked as a staff writer for the Washington Independent and on the editorial staffs of Foreign Policy and The New Yorker. Her e-mail is annie.lowrey@slate.com.

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BREAKING NEWS: Apparent Tornado Hits Mass. City

Injuries reported after possible tornado touches down in Springfield, Mass.

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Google Is Much More Important Than Facebook For Purchasing Decisions


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Wednesday, June 1, 2011
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Google Is Much More Important Than Facebook For Purchasing Decisions

As Facebook grows, one concern for Google is that users could eventually turn away from traditional search and instead ask their friends for advice and answers.

So far, that's not happening according to the chart above from Bank Of America Merrill Lynch.

When consumers want to research buying something, Google is still the primary option. Only 1% of 418 people surveyed say they ask friends on Facebook about the product.

It's not in this chart, but BofA also says only 3% of Facebook users say they use Google less thanks to Facebook. (17% say they're using it more thanks to Facebook.)

Of course, the real long term risk to Google is that Facebook has a trove of important data which it can not access. But, for these other concerns the data from BofA provides some relief for Google.

And for Facebook, this chart isn't bad news, either. It's still a place where users hang out and can be influenced by display advertising. Read »


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