retail therapy

On ABC’s “This Week” on Sunday, both Paul Krugman and Robert Reich offered far more pessimistic views of the economy than the rosier outlook put forth by Federal Reserve Chairman Ben Bernanke on Friday. Krugman described the economy as languishing in purgatory. Reich explained that the only good news is that the economy is getting [...]

In this deteriorating economy, wealthy people who used to spend their money freely on exotic vacations and $8,000 Birkin bags supposedly are cutting down their conspicuous consumption and trying to be more environmentally sensitive at the same time, The Wall Street Journal says today.
If that’s true, it would mark a big change from the practice [...]