Word: thriftier
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...lessons from Black Friday are already sinking in. Shoppers showed that "they're thriftier, they're savvier and every one of them wants to be the best bargain hunter out there," said John Squire, chief strategy officer for Coremetrics, a Web marketing firm, in a statement...
...Bill Gross, the head of PIMCO, has joined other bears by claiming the U.S. economy is entering a "new normal" era of slower economic growth and limited stock returns because American consumers have become thriftier. Instead of spending, they are paying off their heavy debts, and this will weigh on corporate earnings indefinitely. Yet it is world economic growth, not U.S. growth, that will dictate future stock returns. S&P 500 companies now obtain almost half of their revenue and profits outside the U.S. That share will most certainly rise as growth in the emerging nations continues to outpace that...
...years. Each year she puts 5% of her income into her 401(k). Through most of her working life, the market does pretty well, boosting her diversified portfolio 5% a year on average. When she retires, our worker will have $332,194 in her account. Now imagine a second, thriftier worker contributing 7.5% of his salary, or $2,500 more a year, to his 401(k). But in this scenario, the market does a 2008 in the last year before he retires, and his account drops 30%. Result? Even after saving 50% more a year for 30 years, worker...
...completely abstained from giving out loans. Considering the way banks used to court risk-taking businesses clearly unable to repay them, this is a diet of the highest magnitude. Likewise, after getting tied up in highly leveraged purchases of their own homes, American consumers have been forced to get thriftier. History Professor Niall C.D. Ferguson has even warned that New York may go the way of Venice and become just another tourist center, underlining a permanent shift in the economic balance of power from West to East...
...down on spending, started to pay off their debts and learned to make do with less. It happened just in time. The recession, which at first seemed quick and painless, took a scary dive for the worse. In the deepening economic chill, the yearning for simpler pleasures and thriftier ways became not only a virtue but a necessity...