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Underwear, hot waitresses, and other leading economic indicators

If you want evidence that our economy may be on the way to recovery, forget about car sales and new home starts and all that stuff -- and instead look at men's underpants. If they don't have holes in them, good times may be coming soon.

That's the premise of an interesting theory proffered -- at least half seriously -- in a recent article in the Washington Post by writer MORE

Why money market funds may get riskier

Money market funds have long been a refuge for investors seeking safety and liquidity. But ever since the market meltdown, money funds have been under siege. Last September Reserve Primary Fund, which had invested in suddenly worthless Lehman Brothers commercial paper, "broke the buck"—that is,  allowed its net asset value to fall below a $1 per share. That led to panic, as frightened investors began pulling their savings out of MORE

Is this the end for Rachel from cardholder services?

In the Science Fiction world of Isaac Asimov, robots are required to abide by three simple laws:

1. A robot may not injure a human being or, through inaction, allow a human being to come to harm.
2. A robot must obey any orders given to it by human beings, except where such orders would conflict with the First Law.
3. A robot must protect its own existence as long as such protection MORE

Bleak outlook for pay raises in 2010

The pace of job losses has been slowing since the spring, a sign that a rebound for the job market may be underway.  We'll get another read on the state of the jobs market Friday when the Department of Labor releases its latest unemployment report.  The report is expected to show that U.S. employers cut about 230,000 jobs in August, the smallest decline in a year, according to a Bloomberg MORE

Identity theft hits the head of the Fed

Apparently Fed Chairman Ben Bernanke has more to worry about than interest rates and financial bailouts: he and his wife were recently the victims of identity theft after Anna Bernanke's purse, containing credit cards and a family checkbook, was snatched from the back of a chair in a D.C. Starbucks.

Though it's not every day a Fed chief finds himself the victim of such a low and petty financial crime, the MORE

New rule may mandate lower 401(k) contribution limits in 2010

There doesn't seem to be much Washington can agree on these days. But I don't think I'm going to go out on a limb by saying that one issue with widespread bipartisan support is the need for Americans to save more for retirement. So you have to imagine there is going to be some quick hustling to avert an oncoming p.r. train wreck: the IRS soon may be forced MORE

Your credit card company is watching you (for now)

The first phase of a new law cracking down on the credit card industry went into effect last week.  Card issuers must now give consumers more notice when card terms are changed and an option to reject interest rate increases.

By next February, the most substantive changes in the new law will be in place, including banning card companies from raising interest rates on existing balances unless the borrower is more MORE

Putting a price on walkability

How much is walkability worth? An intriguing new study suggests that people are willing to pay considerable premiums for houses in neighborhoods that are highly walkable -- that is, where you can actually get to nearby stores, schools, and parks without having to hop in the car.

The study, conducted by a group called CEOs for Cities, looked at 90,000 homes in 15 different markets in the US, mashing up home MORE

Consumer Spending Goes to the Dogs (and Cats)

In this year of the great belt tightening pet owners continue to give themselves a long leash to keep shelling out for Fido and Fluffy. The American Pet Products Association estimates we'll spend $45.5 billion on pets this year, a 5% increase since 2008 and a near 60% jump from our 2001 pet outlays.  This comes at a time when June retail sales were about 10% lower than a year MORE

Who needs retirement anyway?

How hard is it to stay retired? As you've no doubt heard, football legend Brett Favre just came out of retirement -- for the second time. But it isn't just sports figures who see retirement as little more than a passing phase: Polls suggest that anywhere from one-half to three-quarters of working Americans plan to return to some sort of work after they retire -- that is, if they expect MORE

Please don't save money this way

If you're looking for ways to cut your expenses, take a look at Money's September cover story, "Cut Your Spending by $500 a Month." I admit to being a little biased here, as I was one of the contributors to the story.

As such, I can tell you that coming up with money-saving tips that actually work is tough. Not all of my ideas made it into the story. And frankly, MORE

Let's call in the health care mythbusters

It used to be that the mythbusters at Snopes.com were the go-to-guys for refutations of weird rumors. These days, though, those diligent debunkers can barely keep up. It seems like only yesterday that tongues were wagging about Obama's alleged non-citizenship -- a false rumor the site addressed earlier this month with a typically withering takedown of the forged birth certificate that purportedly proves Barack Obama was born in Kenya.

Now the MORE

Don't blame health care for poor longevity

In the Great Health Care Debate, much has been ballyhooed about the United States' low life expectancy when compared to other first-world countries. Our life expectancy at age 50 ranks 29th in the world -- 3.3 years behind Japan (the leader) and also behind Canada, France, Iceland and Spain, among others. In contrast, the U.S. spends 16% of its GDP on health care -- more than any other country.

Of course, MORE

Give Congress a taste of our medicine

Here's my suggestion for solving the nation's healthcare crisis — the one that I would propose at one of those town-meeting shoutfests if I could get in a word edgewise: Make sure that members of Congress are living with the same health benefits that the rest of us are.

As reported recently by the Los Angeles Times, you see, senators and members of the House of Representatives enjoy a health insurance MORE

Is the new frugality fading?

The employment picture is improving. Housing demand is rising. The stock market is rallying and the Dow is up nearly 50% since March. Newsweek even declared the recession over in a recent cover story. So, maybe it isn't a surprise that consumers appear to be returning to their free-spending ways even before the Great Recession is officially declared kaput. According to the Commerce Department's latest reports, Americans' personal savings rate MORE