John Gerzema gave an interesting TEDx talk on how customers are dealing with the current economy and how communications technology is making capitalism better.

Some of the highlights:

  • Spending is at its lowest in 63 years
  • More people are using debit cards than credit cards
  • Americans are holding onto their cars for longer than ever: 9.4 years
  • Library membership is now at 68%, the highest rate ever
  • 30% of homes in America are now built by owners

A graph the personal savings rate of Americans from 1929 through the present day:

personal-savings-rate-1929-2006

Also the total debt of the United States since 1918:

total-borrowing-of-depository-institutions-from-the-federal-reserve-in-billions

How people are dealing with the stress of the current economy:

dealing-with-the-stress-of-the-current-economy

And to answer the question presented in the title of this post:

  • Dentists report replacing more fillings because people are grinding their teeth due to stress
  • Gun sales are up 25% since January of this year. (presumably due to fear of uncertainty)
  • Vasectomies are up 48% (presumably due to the cost of having a child)
  • Shark attacks are at their lowest point since 2003 because of people taking fewer trips to the beach

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