Does The Down Economy Have An Upside?

Men’s underwear sales supposedly predict the state of the economy. Usually sales are stable, with men buying an average of 3.4 pairs yearly; but during bad economic times, men put off buying new underwear. Sales began to slow in 2008 when the recession took hold. From 2004 to 2008 the number of men buying one pair at a time increased from 5% to 8%. Sales are expected to fall another 2.3% in 2009. However, in 2010 sales are expected to fall only 0.5%, showing the economy is moving in the right direction – in boxers and in briefs.

Alligators enjoy the recession because there’s less conspicuous consumption by people who can afford expensive accessories. The demand for alligator handbags and boots dropped approximately 40% worldwide between 2008’s first quarter and 2009’s first quarter. The demand for alligator watchbands dropped approximately 80%. Although alligator farmers previously took 500,000 eggs from swamps and marshes, in 2009 they’re expected to take only 30,000. Harvesting adult alligators is expected to be a fraction of 2008’s 35,500. In 2007 Louisiana alligator farmers and hunters made $71 million. In 2009 they’re expected to make $10 million. It’s their turn to be skinned.

Angela Logan was studying nursing when her house went into foreclosure. That’s when the 55-year-old, divorced, mother of 3 turned to her hobby of baking. She resolved to sell 100 Mortgage Apple cakes at $40 each in 10 days to meet her mortgage payment, pay bills and qualify for a federal program to lower mortgage payments. When the Hilton Hotel offered use of its 4 ovens, Logan baked 200 cakes. Now Internet retailer “Bake Me A Wish!” is developing a line of Angela Logan cakes, but Logan isn’t giving up nursing. She’s not putting all her eggs in one … cake.

The United States is no longer the world’s most competitive economy, a position it held from 2006 to 2008. The U.S. was ranked second by a 2009 survey of 131 countries by the Geneva-based World Economic Forum. The survey combined opinions of more than 13,000 business executives with economic statistics and government regulations. Switzerland, because its economic performance has been basically stable, is now the most competitive economy. Singapore ranked third, followed by Sweden, Denmark, Finland, Germany, Japan, Canada and the Netherlands. Of course, with the U.S. pressuring Switzerland for the names of Americans having secret bank accounts, Switzerland can’t bank on staying #1.