I hesitate to step into an area I do not fully understand, but FORTUNE probably has a pretty good grip on the economy, and a recent article talks about an uptick in the phrase “new normal.”
According to the article, there are five new economic normals that will be with us for a while:
1. Long-term unemployment
2. Renting over owning
3. Saving over spending
4. Staycations over vacations
5. Higher taxes for “the rich”
Polls are showing the ecoomy is the number one concern of Americans. Personal pocketbooks will be foremost on voters’ minds come November.
Several weeks ago I ran across a phrase I haven’t been able to shake. Gallup reported a 33 percent hike in one month in personal spending, and the headline stated that upper-income Americans were suffering from “frugality fatigue” and had gone on a spending spree.
Frugality fatigue. Well, God love ‘em.
For those who live in the real world, I do not hesitate to recommend the following article, which even I understand:
“Five 'new normals' that really will stick,” FORTUNE, Nin-Hai Tseng, August 20, 2010
skip to main |
skip to sidebar
demwit
Chronicling the absurd, the obnoxious, the outright lies, the occasional truths and the downright mystical out of the mouths of politicians and pundits.
blog author
- B.J.
- South Carolina, United States
- constant learner
faves
- Airth - philosophy & travel
- Bartleby - one-click reference library
- Beth - all things Southern
- Diversity Ink - Bridging the racial gap
- Frodo - Keeper of the Ring
- Hen’s Teeth – ‘Liberal Southern Women: anything this rare is bound to be expensive, honey’
- I See My Dreams - my archived blog
- Margaret & Helen - Two old gals with spunk!
- Murrmurrs - Murr Brewster, 'snortworthy'
- Papamoka's straight talk
- Parsley's Pics - current issues, common sense and good writing
- Pop Culture Dish - Entertainment past & present
- Progress Report - Subscribe!
- Progress Report, top newsletter
- Sue - Helloooo ... Mr. President, are you listening?
- White House - The Blog
fair use notice
This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. I am making such material available in an effort to advance understanding of current issues. I believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.
posts library
-
▼
2010
(131)
-
▼
Aug
(16)
- 'The Great American Stupid'
- A song for JTS
- From fiction to fact
- Five 'new normals'
- Beck's esoteric bullshit
- A song for MJB
- The Bagel Man
- The GOP Dog-and-Pony Show
- Trickle-down Islamophobia
- Newtered
- Hate wave sweeps America
- Geospatially challenged
- Einstein's letters to FDR
- Enfants perdus
- OMST in a huff
- 'Jesus wept.' John 11:35
-
▼
Aug
(16)
1 comment:
They got it right in the last line of the article. Concerning new normal number 5, Higher taxes for "the rich":
"Perhaps this new normal isn't so much about higher costs for the so-called rich but rather an equalization of the nation's tax structure."
Post a Comment