The US Is Officially in a Recession — Are You Surprised? We've been throwing around the word recession in connection with the US economy for some time now — everything from recession-proof jobs to recession-proof beauty is common vocabulary. However, in a statement released just today, the National Bureau of Economic Research conceded that the economy has been in a recession since December 2007.
on Yahoo! |
We've been throwing around the word recession in connection with the US economy for some time now — everything from recession-proof jobs to recession-proof beauty is common vocabulary. However, in a statement released just today, the National Bureau of Economic Research confirmed that the economy has been in a recession since December 2007.
The last time the economy was in a recession was 2001, after the tech bubble burst.
on Yahoo! |
After hearing the news that a Wal-Mart employee was brutally trampled to death by discount-hungry shoppers on Black Friday, you might think eager shoppers everywhere turned out for after-Thanksgiving sales. While other retailers avoided such tragedy on the biggest shopping day of the year, they didn't draw in the same crowds and are now apprehensively facing the bad news that 2008 could end in the red.
The prospect of getting something for less might have caused some aggressive crowds, but the number of shoppers out this Black Friday didn't compare to those in recent years.
on Yahoo! |
You might have heard somewhere, make that everywhere, that it's Black Friday. It wasn't given a special name just because it's the day after Thanksgiving, and retailers have traditionally counted on the shopping holiday to push their sales into profitable territory.
It's still a relevant day, but some stores have been advertising Black Friday-type-can't-miss-sales since the beginning of November as retailers began to get increasingly nervous about consumers spending less this holiday season.
on Yahoo! |
Gift certificates and gift cards may seem like a risky investment because some newly bankrupt companies refuse to honor outstanding gift cards, but apparently there's an even more controversial gift option on the market this year. Planned Parenthood in Indiana is offering gift certificates for the first time ever. The organization said a big increase in calls and visits from newly unemployed and uninsured citizens prompted what it deems the "unusual, yet practical" gift option.
on Yahoo! |
While Americans give thanks tomorrow, Israel's top rabbis have called for mass prayer rallies across Israel to help end the global financial crisis. Jewish religious institutions have been hit hard by the economic downturn, as fundraising efforts in the US and Europe have proved futile.
This past summer, religious leaders in the US held gas station-side prayer vigils in an attempt to reduce pain at the pump.
on Yahoo! |
In these financial times, everyone wants to save a buck or two. I used to balk at my grandmother for clipping coupons, but now big savings at the store (by store, I usually mean Best Buy, Amazon, or Target, naturally) mean that I'm a happy camper. Plus, with so many sales going on right now, it's hard to keep your head straight.
on Yahoo! |
Over brunch with a girlfriend this weekend, she commented that now it's not cool to be flashy about money, like throwing down $1,000 at a club for a table with bottle service or spending $500 on a sweater when someone makes a $50,000 salary.
The economy is causing people to act differently with their money and towards other people's money — it's not to say that there's no place for splurging in a rocky economy, but do you think that it's now more unacceptable to be flashy even if you have the money to spend?
Source
on Yahoo! |
Between 2003 and 2006 thousands of ineligible multi-millionaires cultivated farm subsidies from the US Agriculture Department. A congressional report shows that a financial firm executive, a professional sports team owner, a former executive of a technology company, and residents of Hong Kong, Saudi Arabia and the United Kingdom received thousands of dollars of taxpayer money via farm subsidies.
Officials at the Agriculture Department say they're innocent, since the congressional investigators could access IRS records off limits to them.
on Yahoo! |
Smoothie chain Jamba Juice is teaming up with Organic To Go to test out a new line of organic food products. In an effort to boost sales, Jamba Juice is considering adding Organic To Go branded items — grab and go salads, sandwiches, wraps, cookies, and yogurt parfaits — to their already existing menu of classic fruit smoothies. The testing will take place in three West Coast stores in Los Angeles and Orange County, CA, and Bellevue, WA.
on Yahoo! |
Enter your email below:
|
