David Leonhardt is out with a great column on the spend-vs.-austerity debate (which Steve and Michael have also rung in on). Leonhardt’s piece provides both historical context and intellectual honesty: there are reasons to think it’s time to cut governmental spending and avoid future problems associated with high levels of sovereign …
Q&A with Jeff Yeager, Author of ‘The Cheapskate Next Door’
Jeff Yeager made a name for himself as The Ultimate Cheapskate. Now, after traveling the country and talking to tons of fellow members of the “cheaphood,” he’s back with a new book that’s all about how cheapskates proudly do what they do and save more and spend less than typical consumers, how they couldn’t give a hoot about keeping up …
Why are we still discussing the causes of the financial crisis?
Here’s a question that might be worth asking. With both the House and the Senate zeroing in on passing a bill to overhaul the financial industry, why are we still so deeply enmeshed in debating the causes of the financial crisis in the first place?
I ask because as Congress enters what appears to be the final stretch of its …
I Know Women Love Shoes, But … $25,000 Worth of Shoes?!?
A new study reveals that the average woman owns 19 pairs of shoes at any given time, and in the course of her lifetime, she’ll buy 469 pairs of shoes and spend nearly $25,000.
The Push for Plastic in Asia and the Pacific
How do you increase consumer spending and make the local economies in Asia grow? Give everybody credit cards. What does this mean to you? Your own credit card may be increasing your consumer spending.
Of Employment, Weight Gain, Hunger, Risk, and Weird Economic Theories
Having a job may cause you to gain weight. Not having a job may also cause you to gain weight.
$200 ‘Toning’ Sneakers Won’t Make You Skinny
The idea that a certain kind of sneaker will significantly help the wearer get in shape and lose weight is “utter nonsense,” according to a professor of physical medicine and rehabilitation at Johns Hopkins School of Medicine. Another expert says, “Nothing about these shoes has any redeeming value.”
It’s a Deal: 30% Off at Dickies
Use the coupon code WT130 (thanks dealnews) to get 30% off clothing purchases (including merchandise that’s already on sale) at Dickies.com. The code is valid through July 5.
A Bad Day for Stocks, A Good Day for Housing?
If you took even a glance at CNBC or yahoo finance or CNNMoney.com or where ever you go to check up on the market, you probably know that today was a bad day for stocks. The S&P 500 hit an 8-month low, and the Dow was down as much as 326 points at one point. It ended down only 268 and change. (Feel better. Behavioral economics at work.) …
There’s Still No Reason to Pay for a Checking Account
Recent reform measures that restrict debit-card overdraft fees and tighten credit card regulations are expected to save consumers as much as $5 billion this year. No one expects the banks to sit back and do nothing while once-easy revenue streams dry up, and the speculation is that one tactic banks may soon bank on is the reintroduction …
Don’t Do Business with Companies You Don’t Trust
A managing partner of a financial services consulting firm makes a novel argument: Modern-day customer “service” mainstays such as misleading pricing structures, surprise gotcha charges, excessive fees such as debit-card overdrafts and cell-phone ETFs, confusing, always-changing privacy rules, and other policies that drive consumers …
Consumer Confidence, Stocks Plummet
We are in what one of my co-workers calls a perfect negative loop, where anemic jobs numbers feed bearish stock market sentiment which loops back and drives consumer confidence lower. The Conference Board provided the latest loop in the chain on Tuesday with the new report on Consumer Confidence numbers for June, which were down to 52.9, …