[Photos by CLINT SPAULDING and BILLY FARRELL for PMc].

Just this month, Federal Reserve Chairman Ben Bernanke said the recession is probably over. This picture of a ready auction bidder at last night’s New Yorkers for Children gala might be just the sign we needed to relax. New Yorkers like going out. We also like spending. Let’s bring in fall’s fierce event calendar, and do it up like we used to, before this bleak finance anxiety cast a shadow on our usually bustling city. Also, standby for full coverage of the dramatic, A-list event, co-chaired by designer royalty Oscar de la Renta at Cipriani 42nd Street, later today. Until then, a few more peaks, below. More»

It’s time to figure out where the best parties are, this weekend. Below are our picks of the weekend’s top events. And, as always, you can find the full details as well as more events on our Calendar Page.

Friday, June 5

The Webutante Ball
Where: Empire Hotel Rooftop
Why: See Internet Week crown a King and Queen (and vote for Rachelle)!
When: 6:00 p.m. - 10:00 p.m.

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• Swine Flu at the prep: terror knows no limits! [Gawker]

• What with all that billion dollar thieving and civil suit hullabaloo, J. Ezra Merkin decides it might be a good time to stop managing his three Madoff Ponzi pawns hedge funds. [WSJ]

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• Obama train-a-rama!!! Maybe, hopefully America will join the many other countries that have high-speed trains! Best yes-we-can idea ever [Economist]

• So in order to help the environment bounce back, you know what you should do? Buy some more stuff. Not just anything though. Jeans. Organic jeans. [HuffingtonPost]

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In line with the trend of saving more and spending less, we’ve set out to prove that you can continue to enjoy the best of everything the city offers on a tighter budget.  After doing a bit of research and asking some friends, including an up-and-coming designer, a journalist for an indie zine, a restaurateur cum musician, and a financial consultant, GofG has put together a list of some choice deals, discounts and bargains so that you can live it up even if your stocks are going down.

Dining: By now we’ve all seen those signs around town for the recession special.  But let’s be honest, there’s no spaghetti and meatballs recession special that will curb a craving for gourmet food.  And for this reason, it would insane not to take advantage of:

• Restaurant Week’s extension through March 20th.  Bargain prix fixe lunch or dinner menus at the likes of the 21 Club, Nobu, Spice Market (or any of the Jean Georges establishments, for that matter), and Dovetail are a few of the offers: check the complete guide to participating restaurants at NYCGO.

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• Feel you’re too comfortable in your relationship? Compare and contrast. [Self Absorbed]
• Weighing the importance of business cards? [The Urban Muse]
• Because who’s day is complete without a little Gary Busey? [Seriously? OMG! WTF?]
• More important for girls than a high school Sex-Ed video [Miss Model Behavior]
• Some nice depressing facts about our nation’s economy. In the trillions [My Open Wallet]

• Southside’s plans for opening out east this summer? [DBTH]
• Running away to grad school, not a good idea to battle this recession. [Penelope Trunk's]
• Theater for those with a tight budget or a really low attention span [East Village Podcasts]
• One more reason besides the hangover women shouldn’t drink [NotionsCapitol]
• How to be more popular on Twitter. Because you know that’s what really matters [The Blog of Tim Ferris]

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[Balloons fill the dance floor at Nikki Beach, Midtown.  Photo via our Inbox]

With our city well into the recession, it’s time to take another look about how it is affecting our city’s nightlife.  Many people I’ve discussed this topic with (including Steve Lewis 5 minutes ago), tend to think that we are on the VERGE of the next wave of decent nightlife.  Marc Jacobs has even caught the trend, channeling the good old ’80s at his show yesterday, a time of bold fashion statements and even bolder parties and venues.  “The party last night at Greenhouse (The Tracy Reese after party) was insane.  It was cool, sexy and fresh.  People everywhere are out again, I feel like the clubs are finally becoming “cool” again, like I’m back in 1985.” Exclaims Steve.  But what does this recession really mean? More»

Probably still at the dealerships…This January, BMW only sold a whopping 23 units of their 7 Series! As in total. Yikes. 

“The fact that BMW’s sales are down compared to January of last year should come as no surprise. These aren’t just cars, they’re luxury goods. What’s significant is the breakdown of model sales.

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