Is economic crisis affecting behavior in strange ways?
Posted
Nov 24 2008, 03:04 PM
by
Karen Datko
Rating:
History shows that in bad economic times, people prefer slow songs with meaningful lyrics -- and Playmates of the Year are more mature and are less voluptuous.
Is the current economic slump affecting human behavior in bizarre or unexpected ways? We looked around for clues on the Web.
This seemed the most amazing: Last month's Mega Millions $42 million winner opted to take the jackpot in 26 annual installments rather than a lump sum.
While many initially thought worries about the stock market influenced his unusual decision, Michigan resident Chris Crane, 51, told the Detroit Free Press it wasn't that. He said, "One lump sum, that's kind of a big amount to try to handle. The annuity, we can spread it out, kind of manage it fairly well."
Crane said he intends to retire from Chrysler and start a pecan farm in Georgia. His wife, Tina, 47, also will retire. They'll collect $1.6 million a year before taxes. The lump sum would have whittled their winnings down to an after-tax $26.3 million.
Some others:
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The Personal Financier reports (with a hat tip to The New York Times) that, in addition to favoring ballads and older-looking Playmates, people have more use for laxatives in economic downturns. (Sadly, the NYT story also reported a spike in the number of calls to employee assistance programs from people in crisis about the economy.)
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More newspapers are starting blogs about saving money. This a smart idea for an industry in desperate need of some -- reach out to readers via the Internet with information that's vital to their well-being. Among them is the Dallas Morning News' Dollar Wise Blog. (Tip o' the hat to Mighty Bargain Hunter for pointing it out.)
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Many in law enforcement believe recessions contribute to a rise in theft and other property crimes. It's hard to say what motivated the two guys who stole an ATM machine with a forklift, but this is probably not a good time to leave your purse unattended in a shopping cart. Then there's the story of a man who authorities alleged rented out foreclosed, vacant Long Island houses he didn't own.
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On the other side of the world, Reuters reports, an Australian resort is promoting an "anything goes" month-long nude party as the tourism industry Down Under continues to tank.
There are more-wholesome developments as well. The Personal Financier observes that as older homeowners watch the value of their homes sink, members of the younger generations may be able to afford one.
Other bonuses: Ron at The Wisdom Journal says credit card solicitations in the mail are on the decline. Also, there may be a change in our collective attitude. He writes: "Doing unto others, rather than trying to get them to do something for you, will become increasingly common as people appreciate what they have rather than constantly complain about what they don't."
