Dow-51.09down-0.49%
10,399.86
Nasdaq-13.28down-0.61%
2,162.73
S&P-4.36down-0.39%
1,101.88

MSN Money video

Video on MSN Money
This video player requires the installation of the free Adobe Flash Player
More video on MSN Money . . .
Garage sale © UpperCut Images/SuperStock

The Basics

You know it's a recession when . . .

You might be surprised at the things some desperate Americans are willing to part with in an effort to stay afloat economically.   

By Marilyn Lewis
MSN Money

Even if every economist in the country got the ax, you'd still know we were in a recession. The proof is all around you.

Take Powell's Books, a mecca for readers in Portland, Ore. When Powell's customers need cash, they dismantle their libraries. This year, Powell's online purchases from customers doubled between January and April after the store started paying cash for books through PayPal.

MSN Recession Center
Or look at Craigslist, where you'll find nearly double the number of ads from readers hoping to unload collectibles, cars and household stuff, to barter for needed goods or services, or to find a roommate to share expenses, than you would have a year ago.

More people are selling their blood, renting their wombs and abandoning their expensive boats and hungry pets.

You certainly don't need to wait for the monthly unemployment report to know times are tough.

Unloading your stuff

The PayPal option launched a trend that startled Powell's: Books are raining down from online, from 800 a day to 1,400 a day in January and February, then to around 1,800 a day by late March.

"To see these kinds of 10% increases month after month, it means that people are looking to their libraries as a means of getting money," says Jon Guetschow, the director of used books for Powell's.

Buyer Darren Misner chats face to face with customers at the Powell's store in Beaverton, Ore. "Part of the interaction is, as you're going through their books, a conversation develops," Misner says. Increasingly, sellers confide that they're unemployed.

Craigslist, the bare-bones and largely free Web site that's become the marketplace of choice for much of the country, offers a way to gauge the rush to sell virtually everything.

For-sale ads of all kinds, the company says, are up 75% over last year. Garage-sale listings have grown about 100%. (Read "Empty your closets, fill your pockets.") Ads for bartering -- no-cash trades -- have grown 100%, says Craigslist spokeswoman Susan MacTavish Best. Bartering hot spots include Fort Myers, Fla. (up 180%); New Orleans (175%); Nashville, Tenn. (175%); and California's Inland Empire (150%).

From shopper to shopkeeper

Atlanta garage-sale connoisseur and 20-year veteran Tom Zarrilli observes that many sellers appear to be unloading the spoils of shopping sprees from better days. There's "a lot more Ikea stuff," he told The Atlanta Journal-Constitution.

Lynda Hammond, who helps others organize sales through her Web site, The Garage Sale Gal, sees decreasing numbers of lower-income shoppers. She speculates that they may be feeling too pinched to spend on gas or impulse buys. On the other hand, she's seeing an influx of wealthier shoppers: "I actually saw -- get this -- a woman in a Jaguar garage-saling and a family in a Hummer."

Nonprofit secondhand stores are getting more customers but fewer donations, presumably because people are selling their stuff to earn cash. Local branches of the Salvation Army and Society of St. Vincent DePaul told The Atlanta Journal-Constitution that donations were down, just as demand was growing.

Sometimes, a yard sale isn't enough

The bills don't stop coming, even when you've lost your job. Sometimes the solution is to let go.

Repo specialists work day and night, repossessing cars from deadbeat owners. The trade is growing more dangerous: In Alabama, three shootings -- two fatal -- have arisen from repossessions in the past 12 months. Vehicle repossessions are expected to increase 5% this year on top of a 12% increase last year and a 9% rise in 2007, according to The Associated Press.

Video on MSN Money

Jim Jubak © MSN Money
Create your own economic indicator
It can be hard to tell exactly what direction the economy is heading with the myriad reports from around the country. MSN Money's Jim Jubak explains a simple way for you to tell what's going on in your local economy.

Boats were boy bling in the boom. Now, the moorage, upkeep and fuel are a big headache. On both U.S. coasts, sailors and yachtsmen are abandoning their ships, The New York Times reports. Some sink them and try collecting on insurance policies. Others cut them loose to clog harbors, break up in storms, leak toxic fluids and attract thieves looking for scrap metal and parts.

Maybe the saddest hard-times trend is the large-scale abandonment of pets. Animal shelters around the country are deluged with cats, dogs and horses whose owners cannot afford to feed them, the Chattanooga (Tenn.) Times Free Press reports. In Chattanooga, the number of pets abandoned to shelters has more than doubled in the past year.

Continued: Bodies as ATMs

 1 | 2 | next >

Rate this Article

Click on one of the stars below to rate this article from 1 (lowest) to 5 (highest). LowRate it 1Rate it 2Rate it 3Rate it 4Rate it 5High
Join the discussion!
Sort by:
1 - 10 of 166
Tuesday, May 05, 2009 11:23:02 AM
Thanks obama for your socialist agenda that is destroying my country!
Tuesday, May 05, 2009 11:59:50 AM
So what's wrong with a socialist agenda?  The last eight years of the conservative republican agenda are the reason this country is in the shape its in.  I say its high time to give socialism a chance in this country.  It has to be a huge improvement over the government we've endured so far.
Tuesday, May 05, 2009 12:58:09 PM
This article brought to mind the old saying - It's a recession if your neighbor loses his job; it's a depression if you lose your job.Tongue out
Tuesday, May 05, 2009 1:15:29 PM

President Obama didn't create the mess we're in - he inherited it.  I'm thrilled he is now going off those companies who shipped jobs overseas and use tax havens to avoid paying tax here.  I didn't vote for him, but he sure has my full support now!  I've been unemployed for a year and a half - benefits gone - depleted retirement account - lost home.  It doesn't get much worse and the fact that I'm 60 doesn't help in the job market.  Washed my car out in the rain today - just toweled off the dirt with a clean old cloth.  Thanks Mother Nature!!!  I also just learned that used dryer sheets work fine for dusting furniture.  For all the education and degrees I have, it's the little things that are helping me stay afloat. 

Tuesday, May 05, 2009 1:46:35 PM

Correction, BrandonKat,  Obama is chasing the Tax havens - accounting practices, headquartering businesses in the Caymans etc.  Let's all watch while the Stock market tanks again after he announces how he is going to chase this down.  And your and my retirement will shrink just a little bit more. 

 

The jobs you lament were chased overseas when regulations, financial restrictions, union contracts, environmental laws etc, all made it extremely unattractive to manufacture here in the US. 

 

Your tips to cut corners and save a few dollars here and there are something that all of us should do. 

 

 

And Midwest Socialist - the main issue with a socialist agenda is just that.  It is usually someone else's idea of how I should spend or rather not get my money.  The one unique aspect of our country is self determination - the opportunity for every person to do what they want, to succeed or fail as they want to.  You want to work as a temp to keep your options open?  Great, just don't expect a huge retirement account at the end of the day.  You want to become a CEO of a major corporation or open your own business.  Equally great - just put your own effort into it.  But don't expect me to fork over money that I earned through my own efforts to fund the daydreams of people who are too lazy to make their own way.  I will be charitable to those causes that I see fit.  Not the guy down the street who bought a house too big on sub-prime loans.  Not the welfare mother who pushes out the umpteenth kid with no idea of who the father is or where he is. 

Tuesday, May 05, 2009 2:15:58 PM

Do people really think that they have decision making power now, and that under a socialist government they would lose that decision making ability?  If so, I've got to say that they really have you all snowed.  But, I guess if you think you have all these choices then seeing your standard of living crumble all around you with no real end in sight is that much easier to take.

 

Right now the decision are made largely to benefit those that have got it, and they aim to keep it that way.  So, expect a big backlash from the rich and multinational corporations should Obama succeed in putting an end to secret bank accounts, offshore tax dodges, and the abuses now being allowed to multinational corporations in not paying taxes in the U.S. while raking in money hand over fist by having access to our markets.   Expect some serious lobbying to prevent a simplification of the tax code that would making cheating harder, and fuller disclosure of earnings more the course. 

 

People selling things is really a good indication of how bad the times are.  First it was old gold and jewelry, but I'm seeing people sell their find china and silverware on line, getting rid of an extra car if they had it, and at my daughter's school, among her college peers the selling of plasma and blood is getting to the point where donors are lying about how frequently they are giving (several donation places to play off of each other) and student health is seeing an alarming increase in anemic students with needle marks in their arms.  Sperm donors, egg donors and surrogate wombs for rent - next you'll be seeing K-Mart Blue Light specials on infants, and not infant wear. 

Wednesday, May 06, 2009 7:34:20 AM
wow nanook.this country headed downhill when "oops, my pants fell down" clinton made banks loan to irresponsible people. and "de de de" bush did nothing to correct it. don't like the leader of this country? go live in another one. don't blame a man thats only been around 100 days or so for the problems we have now.
Wednesday, May 06, 2009 7:54:03 AM

I am already seeing things get better. Last year we went from spending $120 a month for the gas to get to work to over $400 (Thanks GW Bush). We could not use the boat last summer, it holds 40 gallons of premium and the truck to haul it is diesel, so it would cost almost $200 a day to operate. I noticed that our paychecks went up, probably because of a roll back of the Bush rip-off tax plan for Dual Income No Kids people (my total income taxes equaled 31% of my income). And two of the $500,000 homes in my neighborhood sold last weekend. So we definitely see things getting better. My 401-K plan will probably see a return of around 4% this year, we were lucky, we had none of it in stock or mutual funds, all in treasuries and bonds; it really paid off not to be greedy on this one and just work towards long term safe growth. I only drive American made cars (all three of them) in support of my fellow American Workers. I look for american made shoes and clothing, they're out there if you search. 

 

You could say that my lifestyle is contributing to the improvement of our country, rather than bashing its leaders and pointing blame in the wrong direction. Looking around me I see that the problem was created by bad consumer decisions. If we don't start making more of our products in the USA, we will never recover. Unemployment in the manufacturing segment is starting a trickle up effect and soon the highest wage earners will suffer.

Wednesday, May 06, 2009 8:41:21 AM
Bio Diesel Baby- Bio Diesel
Thursday, May 07, 2009 10:51:49 AM
So what's wrong with a socialist agenda?  The last eight years of the conservative republican agenda are the reason this country is in the shape its in.  I say its high time to give socialism a chance in this country.  It has to be a huge improvement over the government we've endured so far.
 

Bush was by no means a Conservative or conservative. He may have lead under the Republican Party but he also was not a true Republican. So, I would not turn my back on the last 200+ years of Capitalism just because Bush "ran" the country for eight year. I once had a really bad apple but i am not going to give up apples forever. Now I just take a little more time picking the apple I choose to eat.

1 - 10 of 166
To add a comment, pleasesign in