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...for another
round -- the first two were here and
here --
of "you know you're in strange economic times when"...
An
improving economy means people are worse off
"American
Household Income Dropped Nearly 5 Percent in Economic Recovery" (The Raw Story)
Research
released Thursday by a firm created by two former Census Bureau officials
revealed that U.S. median household income fell almost 5 percent from June
2009, when the last economic recession was said to have ended, through June
2012.
Americans age
55-64 took it on the chin during the post-recession period starting in June
2009, seeing household incomes plunge nearly 10 percent, according to data
produced by Sentier Research. Younger Americans
ages 25-34 also saw their incomes drop by nearly 9 percent.
The
supply of butlers is booming
"The Downsizing of the American
Butler" (CNBC)
Five years ago,
butler Paul Pearson could browse the job listings for butlers and have plenty
of choices.
“You
could really pick the job you wanted and often negotiate the terms,”
said Pearson, a veteran British butler who worked for the Queen of England
and Brooke Astor. “Now it’s totally different. For every position
there are 10 or 20 people applying. And forget about negotiating anything.
People take what they can get.”
Pearson likes
his current job as household manager (the new term for butler) in a mansion
in the Northeast. But he keeps close tabs on the butler economy – and
what he sees would make Jeeves weep in his silver tray.
Butler's
salaries are down between five to 20 percent in many markets in the United
States compared to five years ago, according to placement agencies.
Applicants far outnumber jobs. And while high-quality, experienced help can
still find work, overall demand for butlers remains well below its peak during
the butler boom of 2005 to 2007.
People
are paying banks to take their money
"World Watches as Danes Venture Below
Zero" (CNBC)
Of all the many
striking policy measures taken since the financial crisis, one of the most
extraordinary has gone almost unremarked—the introduction of negative
official interest rates by Denmark.
In an attempt
to maintain its strict currency peg to the euro, the Danish central bank
lowered its main deposit rate for banks—the certificate of deposit or
CD rate—to -0.2 percent last month.
The Nationalbanken felt it had little choice. Investors
flocked to Denmark in search of a haven outside the euro zone—one that
has no currency risk with the euro [EUR=X 1.2515 -0.0047 (-0.37%) ] and offers cheap protection against a break-up of the
single currency.
The move to
negative rates is being watched closely by central banks around the world.
“We have never been so popular,” laughs one Danish policy maker.
Investors
are seeking insights from boxers
"Financiers Call on Mike Tyson for
Advice" (CNBC)
Former boxing
champion Mike Tyson will meet financiers in Hong Kong next month and while he
might be able to offer advice on doing time, the bankers should probably be
wary of any investment tips he might have.
The boxer with
the furious fists who has, in his own words, behaved
like a "Neanderthal" for much of his life, will appear at an annual
forum of clients of the brokerage CLSA on September 12.
The convicted
rapist who spent three years in prison and was later declared bankrupt has
found religion and mellowed. He recently appeared in a one-man show about his
checkered life from his early days as a child thief.
"Tyson
will discuss his life before and after boxing, his time in juvenile detention
and prison, his faith, his sobriety, his family and his acting career,
including his recent one-man show on Broadway," CLSA said in a
statement.
Circus
performers are going back to school
"Camp
Aims to Lift Clown Frowns During Slow Economy" (Associated Press)
ONTARIO, Calif.
- Even when she's not in character, Julie Varholdt
acts like a buffoon.
On a recent
day, the veteran clown named "Lovely Buttons" gave her age as 1
billion, 527 million and 437,512 seconds; did a few pull-ups on a luggage
cart, and then stretched out on a hotel front desk to the giggles of the
receptionist.
Bring up
professional clowning, however, and the mother of three decked out in
cartoon-sized purple buttons, a red straw hat and oversized shoes grows
serious - and even sheds a few real tears.
"Clowning
is an art, it is an ancient art," said Varholdt,
whose grandfather was a clown. "You can't just pull on a wig and slap a
watermelon smile on and - 'Poof!' - you're a clown.
Unfortunately, we see it a lot."
These days,
that half-rate competition is cutting into clowning when the recession has
already hit some in the business like a pie in the face. A weeklong
conference to help clowns punch up their punch lines and learn new tricks also
became a forum for how to make it in a niche industry that is contracting in
decidedly unfunny ways.
For many at the
conference about 40 miles east of Los Angeles, the number of paid gigs have
dropped while demand for pro bono performances at charities, hospitals and
schools has soared. Parents no longer are content with someone just joking
around: They want a skilled face painter, a magician, a stand-up comic and a
wizard with a menagerie of ever-more-complex balloon animals.
Criminals
need better training
"Teens
Who Cut Hole In Mall’s Roof To Steal Air Jordans
Might’ve Watched Too Many Spy Movies" (The Consumerist)
Sneaking around
wearing dark clothing and dropping down into a room like some kind of Mission
Impossible stunt might sound pretty cool, but guess what? It's still illegal
to cut a hole in the roof of a mall in an attempt to steal pricy sneakers.
Cops in Houston say two teenagers were arrested for doing just that in a
failed attempt to swipe Air Jordan sneakers.
The mall was
closed early yesterday morning after a security guard spotted people inside a
shoe store and called the cops. When the police arrived, they noticed someone
had let themselves in via a hole in the roof. Of course we don't know if they
copied Tom Cruise's spy moves or not, but how else do you get down from the
roof to the floor but with a rope harness?
Up on the roof,
investigators discovered more than a dozen pairs of the sneakers, which sell
for $140 or more a pop, as well as the two teens. A third suspect fled and
escaped arrest.
The kids have
been charged with burglary and evading arrest.
Satirical
stories seem more credible than mainstream reporting
"Fed
Chief Makes Diplomatic Visit To Econopolis" (The Onion)
ECONOPOLIS—As
part of an effort to consolidate ties with the sovereign fiscal nation, U.S.
Federal Reserve chairman Ben Bernanke visited the cloud city-state of Econopolis on Friday to participate in ongoing diplomatic
talks.
Bernanke, who
traveled in a luxury cable car to the opulent capital floating 20,000 feet
above the earth's surface, was greeted upon arrival by President Cash Moneyton III, as well as a delegation of Econopolis representatives from the Ministry of Supply,
the Bureau of Demand, the Agency of Goods, the Department of Services, and
the Office of Consumption.
"Econopolis is the world leader in the exchange of
currency and a shining beacon of commerce," said Bernanke, admiring the
hundreds of glass skyscrapers and the 125-story golden dollar-sign-shaped
tower that dominate the skyline of the Ka-Ching
financial district. "This great monetary nation is a key strategic
partner for the United States and crucial to its fiscal well-being."
Michael J. Panzner
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