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.
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.
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.
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