Word: consumerized
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There's a lot to feel down about this month: the subprime mortgage crisis, stormy, unpredictable weather, rising gas prices, presidential primary free-for-alls. So, it would be easy to believe the theory set forth by Dr. Cliff Arnall, a researcher from Cardiff University, that the third Monday of...
How serious are the consequences likely to be? Much more could go wrong: a collapse of the dollar, or of U.S. consumer confidence as house prices continue their fall. But on balance, the denizens of Davos would be well advised to keep up their sunny spirits. Taking the long view...
Recognizing the danger of growing imbalances, China's government is now trying to improve the quality of growth, while de-emphasizing the rate of growth. Beijing hopes this will help reduce social tensions by promoting more equity in income distribution and access to consumer goods, including housing, through increasing rural...
The very shallowness of the last recession is part of what's causing worry now. In 2001 most businesses cut back sharply on spending. Thanks to the superlow interest rates set by the Fed, though, households plowed on, and for the first time ever, consumer spending kept rising during a...
Still, people need to eat, and since World War II, outright declines in consumer spending in the U.S. have always been modest and brief. That's partly because the government has become so acutely responsive to signs of distress. The Fed is already on the case, with three interest-rate...