The Up Side of the Downturn

This brief report examines how some U.S. consumers saw the 2008-9 recession as an opportunity to reduce their debt and re-order their priorities.

The Up Side of the Downturn

The biggest shock to the consumer's system today may be the speed at which the economy has taken a 180. Not long ago, we were talking about trading up to artisanal cheese, and now we're marveling at the high cost of milk. Staggering gas prices quickly brought about a new prioritization of indulgences. The Wall Street crisis accelerated and steepened the downturn, and it intensified the severity of the cuts consumers began to make in their spending. But today's consumers are known for showing an impressive degree of strength in the midst of marketplace...

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