Tag Archives: economy

Here in the “breadbasket of the world”, food rationing. Major retailers in New York, in areas of New England, and on the West Coast are limiting purchases of flour, rice, and cooking oil as demand outstrips supply. There are also anecdotal reports that some consumers are hoarding grain stocks. At a Costco Warehouse in Mountain View, Calif., yesterday, shoppers grew …

Thrilling news. Five of the six major airlines in the United States plan to start charging coach passengers as much as $25 next month to check a second bag, the latest move in their quest to offset high fuel prices. But while the airlines, and even some industry specialists, say they expect the fees will primarily affect leisure travelers, business …

Things are getting very grim for the nation’s retailers, which is no surprise to anybody who has seen the graveyard of empty storefronts dotting the malls. Bankrupt retailers: Sharper Image, Levitz, Fortunoff, Lillian Vernon, Linens ‘n’ Things, Wickes, Harvey Electronics, Bombay, Domain. Wobbly retailers: Best Buy, J.C. Penney, Lane Bryant, Lowe’s, Office Depot, Foot Locker, Zales, Ann Taylor. Some of …

Here’s a sign of the times. A California company is selling car dealers a device that disables your car when your payment is late. A Riverside County company is cashing in on the subprime credit crunch. Murrieta-based, Sekurus, sells a device that will disable a driver’s car if a payment is missed. The so-called ‘On-Time’ device is actually a little …

The number of Americans relying on food stamps is nearing records not seen since the 1960s. Driven by a painful mix of layoffs and rising food and fuel prices, the number of Americans receiving food stamps is projected to reach 28 million in the coming year, the highest level since the aid program began in the 1960s. The number of …

Yikes. It’s gonna be a grim day on Wall Street. The Federal Reserve, responding to an international stock sell-off and the likelihood of a sharp drop in America on Tuesday morning, cut its benchmark interest rate by three-quarters of a percentage point. The Federal Open Market Committee lowered its target for the federal funds rate on overnight loans between banks …

Here’s a fascinating map that compares the Gross Domestic Product of other countries to American states with similar economies. Texas=Canada. California=France. And New York=Brazil. Unreal. Embiggen for the easier reading.

Gas prices are at an all-time high nationwide and when I took this picture a few days ago, I thought NYC probably had much higher prices. Not so much, the national average today stands at $3.20/gallon and in California the average price is $3.40. Still, adjusted for inflation, the 1981 average price of $1.31 would be $3.15 today.