Word: mattress
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...Another pillar of economic growth is getting knocked away: domestic demand. Asians may have a lot more money than they used to, but even so, they tend to be savers, not spenders, and quickly return to stuffing cash under the mattress during times of economic stress. In South Korea, wholesale and retail sales growth slipped to 3.8% in August from 5.5% in July. Even in go-go China, passenger-car sales fell 6% in August, the first decline in more than two years...
...Wall Street is still a scary mess, but don't resort to putting your cash under the mattress...
...time to pull my money out of the bank and put it under the mattress...
...available: a white Chevy Suburban, hulking and armed with enough gasoline to cause the next tragic oil spill. Okay, we thought, we would be the most eco-unfriendly people there and would probably make very little friends with our huge SUV, but we would rest well on the air mattress that fit in the back.We were traversing the great forests and farms of the American Heartland! We were wild! We were free!Sure we had our flaws. Perhaps we should have been reading “On the Road” along the way rather than David Sedaris. But certainly...
...occasional small payments" (bribes) that are critical to making sure she gets the best care. "We own our apartment, so that's OK," she says quietly. "But now I don't know whether I'll have enough. I should have been paying more attention." Putting the money under the mattress might have been a better idea. - by Bill Powell...