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States Turn To Gambling As Great Recession Continues
“At least 18 states this year are looking to expand games of chance because of a drop-off of anywhere from 5 to 14 percent in the money they collect from casinos, horse racing, lotteries or other gambling.” [Link]
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Industrial Production Up, Says Report As Economy Improves
“Industrial production edged up 0.1 percent in February, topping expectations and marking the eighth monthly increase. But the crucial manufacturing sector produced less, showing that economic recovery is a ways off.” [Link]
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McDonald’s Sales Jump 4.8%
“The McDonald’s Corporation, the fast-food chain, said Monday that sales at restaurants open at least a year climbed 4.8 percent in February on strong overseas growth and a small rise in United States sales.” [Link]
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Economy Batters Casino Revenue
“Gaming revenues in the 12 US states authorizing casinos fell 5.7 percent in 2009 to 30.7 billion dollars, according to a preliminary estimate by the American Gaming Association, a trade group. This followed a 4.6 percent drop in 2008 gross gaming receipts, the figures showed.” [Link]
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Store Brands See Jump In Sales With Bad Economy
“Unit sales of private label goods have jumped 8 percent since 2007, while brand names have declined roughly 4 percent, according to Nielsen Co. Many shoppers are finding that sugar, shredded cheddar, and milk peddled under store labels cost up to 40 percent less and often taste just as good as nationally known brands. Some items are even made by the same manufacturers.” [Link]
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EU To Bailout Greece
“European leaders have reached a deal to provide aid to Greece, EU president Herman Van Rompuy said on Thursday, in an unprecedented move to stave off a broader crisis in the 16-nation bloc that shares the euro. ‘There is an agreement on the Greek situation. We will communicate now the agreement to the other leaders,’ van Rompuy told reporters gathered at an EU leaders’ summit.” [Link]
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Food Stamps Get New Acceptance
“After a U-turn in the politics of poverty, food stamps, a program once scorned as ‘welfare,’ enjoys broad new support. Following deep cuts in the 1990s, Congress reversed course to expand eligibility, cut red tape and burnish the program’s image, with a special effort to enroll the working poor. These changes, combined with soaring unemployment, have pushed enrollment to record highs, with one in eight Americans now getting aid.” [Link]
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The Latte Factor: What Is It?
The Latte Factor® is based on the simple idea that all you need to do to finish rich is to look at the small things you spend your money on every day and see whether you could redirect that spending to yourself. Putting aside as little as a few dollars a day for your future rather than spending it on little purchases such as lattes, bottled water, fast food, cigarettes, magazines and so on, can really make a difference between accumulating wealth and living paycheck to paycheck.
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Home Prices Drop In November
“Home prices fell in November for the first time in seven months, according to a industry report released Tuesday. The S&P/Case-Shiller 20-city home price index recorded a decline of 0.2% from October. Prices were down 5.3% compared with 12 months ago.” Link
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Obama Pushes Tough New Rules Vs. Banks
“Calling it the ‘Volcker rule,’ after former Federal Reserve Chairman Paul Volcker who flanked the president as he spoke, Obama said that banks will no longer be allowed to own, invest in or sponsor hedge funds and private equity firms for their own benefit. Volcker is chairman of the president’s Economic Recovery Advisory Board and is widely respected on Wall Street.” Link
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