Ok! We can learn something new everyday, came across this article on MSN Money titled " How your undies track the recession!", this made me chuckle. According to economist Alan Greenspan, the former Federal Reserve chief,
underwear sales are a great indicator of the economy's status.
Well, I believe everybody know about Alan Greenspan, It's nothing wrong to said that if you want to blame one person for this financial crisis, than Alan Greenspan is the guy. he is contributed so much of this financial meltdown for supporting the sub-prime mortgage strategy and drove US and the world into the ditch.
Now he want us to believe the recession is actually getting under your pants . when men aren't buying undies, our economy is in the tank, so instead of talking of the Fed's role is this financial meltdown fiasco. he is talking about underwear sales.
So interesting and "AMUSING"， read the article below.
How Your Undies Track The RecessionBy Michael Brush
MSN Money
To help predict a recovery, economists such as Alan Greenspan look to men's underwear sales. Here's what those and other unusual economic indicators say about the road ahead.
Guys, if you want to know where the economy is headed next, look in your underwear drawer.
If you're like most men, you've got more than a few skivvies in, well, less than perfect condition.
If you're put off buying replacements -- and your significant other hasn't done it for you -- then guess what? The recession probably ain't over yet.
In fact, right now men's underwear sales suggest that things have bottomed but not started to recover.
Sure, this sounds trivial. But no less an economist than former Federal Reserve chief Alan Greenspan is a fan of men's underwear sales as an important economic indicator.
It's one of several unusual indicators economists turn to in hard times. We went looking through them in a quest for the much-discussed "green shoots" of an imminent recovery.
Underneath the underwear indicator
Greenspan reasons that because hardly anyone actually sees a guy's undies, they're the first thing men stop buying when the economy tightens. (He told this to
National Public Radio's Robert Krulwich years ago.)
By extension, pent-up demand means underwear sales should be among the early risers when growth returns and consumers feel confident enough to shrug off "frugal fatigue," says Marshal Cohen, the chief industry analyst with NPD Group, which tracks consumer behavior.
After a 12-month, 12% decline through the end of January, men's underpants sales leveled off during February and March, according to NPD. That suggests the economic was stabilizing, Cohen says.
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