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What the Financial Crisis Means for Spam, Psychics, Hosiery & More

It's hard to find something not impacted by our current financial crisis. Here are 12 examples of what the recession means for specific things, from Spam to sex addiction.

1. Spam

It looks like meat, it tastes like meat, but it's a far cheaper substitute for meat. It's Spam! And it's booming. Though Hormel's share price has fallen with the overall market, Spam sales are soaring as the economic crisis leaves consumers strapped for cash. Interestingly enough, Spam, the "crazy tasty" mix of ham, pork, sugar, salt, potato starch and a sodium nitrite, was invented during the Great Depression and became a staple for Allied troops overseas in the 1940s.

2. Marriage and Divorce

Breaking up is hard to do, especially in this economy. While it may be too early to know the impact of the crisis on divorce rates, it appears divorces may have slowed down since the financial crisis began. That's because despite most arguments being over financial issues, it may just be too expensive to pay the legal fees of a divorce and support two households. In fact, during the Great Depression, divorce rates dropped sharply, though they picked back up immediately thereafter.

3. Recycling

The plunge in commodity prices has taken a toll on recyclers. In fact, the whole movement may come to a halt as oil and metal prices fall. Used newspaper, used cardboard, and scrap metal prices have also seen a drop, partially due to dwindling home construction and slower automobile production. Some recyclers are closing their doors, and in the UK entire city councils are abandoning their recycling efforts, as they are no longer economically feasible.

4. Psychics

"There is no rhyme or reason to the way the market is trading," says a personal trader. "When conditions are this volatile, consulting a psychic can be as good a strategy as any other." Psychics, astrologers, palm readers and "professional advice-givers" say business is booming as clients come to them seeking financial guidance. Clients will typically pay $75 to $1000 for an hour's worth of insight!

5. Holiday Parties

Just as you suspected, companies are cutting back on their holiday galas. ABC News announced the cancellation of its annual celebration. American Express did the same and then some "“ announcing the cancellation of 2009's celebration as well.

But what about the caterers? 56% of party planners say that their corporate holiday party numbers will be off more than 10% this year compared to last. They're scrambling to come up with innovative, more somber types of gatherings like luncheons, pot-lucks, and receptions rather than galas, caviar, and glam.

6. Used Car Sales

The used car business is flourishing! Specifically, used car companies that offer buy-here/pay-here financing for lower credit individuals who have been locked out of traditional lending.

But if used isn't your thing, it may still be a decent time to buy new. That's because even steady growth car makers like Honda and Toyota have seen 24% and 32% declines, respectively. Car dealers are desperate to get rid of inventory and are offering invoice and below invoice prices. Look for dealers that have a lot of inventory, because they'll likely offer the best deals.

7. Iceland Tourism

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Looking for a good holiday or spring trip? Look to Iceland!

Once an economic success story, this small country is now, well, bankrupt. If you were attune to Fannie and Freddie and the big Wall Street break-up, you may have missed Iceland's fall. Its three largest banks were oversized and highly leveraged, and seemed ready for collapse in early October. Iceland's currency, the krona, is essentially valueless, and foreign trade has come to a halt. Luckily, the IMF and its Nordic neighbors have stepped in, lending $2.1 billion and $2.5 billion respectively to help the country recover.

But tourism appears to be on the rise. Airfare search engines report a 400% increase in Iceland flight searches. A recent search of round-trip flights from New York found tickets at a record low of $471.

8. College Endowments

Ivy League schools aren't immune to the financial crisis. Since many college endowments are invested in alternative asset classes, which have lost value, they're seeing unprecedented losses. Many college and university endowments are projected to have decreased by 30% this fiscal year. For Harvard, that may mean an $11 billion drop.

That may mean a decrease in financial aid "“ especially because lenders can no longer sell their securitized loans in the secondary market to get new money to offer new student loans. Despite Congress' Ensuring Continued Access to Student Loans Act of 2008, which authorizes the Education Department to buy federal student loans from education lenders for the 2008-09 and 2009-10 school years, there's a chance financial aid may fall short.

9. Lipstick & Hosiery Sales

The Lipstick Indicator is an economic theory proposed by Leonard Lauder, the chairman of Estée Lauder Companies. The theory states that a direct relation exists between rising sales in tubes of lipstick and a falling financial market "“ the worse the economy, the more women indulge in small purchases, like $10 tubes of lipstick. There are conflicting reports as to whether Lauder's theory is holding up this downturn. Perhaps hosiery sales will supplant lipstick as the indicator of choice. Overall hosiery sales rose 2.3% this year, with Spanx seeing a 77% increase in sales compared to last year.

10. NASCAR

Very few sports have been hit harder by the economic crisis than NASCAR. From ticket sales to souvenir sales to team sponsorship from large companies, racing is reeling. That's because an average NASCAR team relies on corporate sponsors for 80% of its budget. That's four times the percentage of an NFL franchise's budget. And many of those corporate sponsors, including the Big Three "“ GM spent $578M in sports advertising in 2007, including NASCAR "“ are facing high-profile hard times of their own. As a result, some NASCAR teams, including Chip Ganassi Racing and Dale Earnhardt Inc., have merged in an attempt to attract corporate sponsors.

11. Personal Maintenance

According to the International Health, Racquet and Sportsclub Association, gym memberships have been on the decline since 2007. There's no sign that these former gymrats are instead opting for cosmetic surgery "“ 53% of plastic surgeons of the American Society for Aesthetic Plastic Surgery say business has slowed.

12. Sex & Sex Addiction

Will the financial crisis spark a baby boom? It just might. According to the Telegraph, sales of sex toys, pregnancy tests, maternity clothes, and baby equipment are soaring. But that's not the only place sex may have increased. Jonathan Alpert, a Manhattan psychotherapist, has seen a big jump in the number of Wall Street workers who seek help for the sex addictions. Apparently, the economic crisis has sparked "maladaptive coping mechanisms" among bankers, according to Jodi Conway, a sex addiction therapist in New Jersey.

Read more of what Diana learned today here.

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15 Heartwarming Facts About Mister Rogers
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Though Mister Rogers' Neighborhood premiered 50 years ago, Fred Rogers remains an icon of kindness for the ages. An innovator of children’s television, his salt-of-the-earth demeanor and genuinely gentle nature taught a generation of kids the value of kindness. In celebration of the groundbreaking children's series' 50th anniversary, here are 15 things you might not have known about everyone’s favorite “neighbor.”

1. HE WAS BULLIED AS A CHILD.

According to Benjamin Wagner, who directed the 2010 documentary Mister Rogers & Me—and was, in fact, Rogers’s neighbor on Nantucket—Rogers was overweight and shy as a child, and often taunted by his classmates when he walked home from school. “I used to cry to myself when I was alone,” Rogers said. “And I would cry through my fingers and make up songs on the piano.” It was this experience that led Rogers to want to look below the surface of everyone he met to what he called the “essential invisible” within them.

2. HE WAS AN ORDAINED MINISTER.

Rogers was an ordained minister and, as such, a man of tremendous faith who preached tolerance wherever he went. When Amy Melder, a six-year-old Christian viewer, sent Rogers a drawing she made for him with a letter that promised “he was going to heaven,” Rogers wrote back to his young fan:

“You told me that you have accepted Jesus as your Savior. It means a lot to me to know that. And, I appreciated the scripture verse that you sent. I am an ordained Presbyterian minister, and I want you to know that Jesus is important to me, too. I hope that God’s love and peace come through my work on Mister Rogers’ Neighborhood.”

3. HE RESPONDED TO ALL HIS FAN MAIL.

Responding to fan mail was part of Rogers’s very regimented daily routine, which began at 5 a.m. with a prayer and included time for studying, writing, making phone calls, swimming, weighing himself, and responding to every fan who had taken the time to reach out to him.

“He respected the kids who wrote [those letters],” Heather Arnet, an assistant on Mister Rogers’ Neighborhood, told the Pittsburgh Post-Gazette in 2005. “He never thought about throwing out a drawing or letter. They were sacred."

According to Arnet, the fan mail he received wasn’t just a bunch of young kids gushing to their idol. Kids would tell Rogers about a pet or family member who died, or other issues with which they were grappling. “No child ever received a form letter from Mister Rogers," Arnet said, noting that he received between 50 and 100 letters per day.

4. ANIMALS LOVED HIM AS MUCH AS PEOPLE DID.

It wasn’t just kids and their parents who loved Mister Rogers. Koko, the Stanford-educated gorilla who understands 2000 English words and can also converse in American Sign Language, was an avid Mister Rogers’ Neighborhood watcher, too. When Rogers visited her, she immediately gave him a hug—and took his shoes off.

5. HE WAS AN ACCOMPLISHED MUSICIAN.

Though Rogers began his education in the Ivy League, at Dartmouth, he transferred to Rollins College following his freshman year in order to pursue a degree in music (he graduated Magna cum laude). In addition to being a talented piano player, he was also a wonderful songwriter and wrote all the songs for Mister Rogers' Neighborhood—plus hundreds more.

6. HIS INTEREST IN TELEVISION WAS BORN OUT OF A DISDAIN FOR THE MEDIUM.

Rogers’s decision to enter into the television world wasn’t out of a passion for the medium—far from it. "When I first saw children's television, I thought it was perfectly horrible," Rogers told Pittsburgh Magazine. "And I thought there was some way of using this fabulous medium to be of nurture to those who would watch and listen."

7. KIDS WHO WATCHED MISTER ROGERS’ NEIGHBORHOOD RETAINED MORE THAN THOSE WHO WATCHED SESAME STREET.

A Yale study pitted fans of Sesame Street against Mister Rogers’ Neighborhood watchers and found that kids who watched Mister Rogers tended to remember more of the story lines, and had a much higher “tolerance of delay,” meaning they were more patient.

8. ROGERS’S MOM KNIT ALL OF HIS SWEATERS.

If watching an episode of Mister Rogers’ Neighborhood gives you sweater envy, we’ve got bad news: You’d never be able to find his sweaters in a store. All of those comfy-looking cardigans were knitted by Fred’s mom, Nancy. In an interview with the Archive of American Television, Rogers explained how his mother would knit sweaters for all of her loved ones every year as Christmas gifts. “And so until she died, those zippered sweaters I wear on the Neighborhood were all made by my mother,” he explained.

9. HE WAS COLORBLIND.

Those brightly colored sweaters were a trademark of Mister Rogers’ Neighborhood, but the colorblind host might not have always noticed. In a 2003 article, just a few days after his passing, the Pittsburgh Post-Gazette wrote that:

Among the forgotten details about Fred Rogers is that he was so colorblind he could not distinguish between tomato soup and pea soup.

He liked both, but at lunch one day 50 years ago, he asked his television partner Josie Carey to taste it for him and tell him which it was.

Why did he need her to do this, Carey asked him. Rogers liked both, so why not just dip in?

"If it's tomato soup, I'll put sugar in it," he told her.

10. HE WORE SNEAKERS AS A PRODUCTION CONSIDERATION.

According to Wagner, Rogers’s decision to change into sneakers for each episode of Mister Rogers’ Neighborhood was about production, not comfort. “His trademark sneakers were born when he found them to be quieter than his dress shoes as he moved about the set,” wrote Wagner.

11. MICHAEL KEATON GOT HIS START ON THE SHOW.

Oscar-nominated actor Michael Keaton's first job was as a stagehand on Mister Rogers' Neighborhood, manning Picture, Picture, and appearing as Purple Panda.

12. ROGERS GAVE GEORGE ROMERO HIS FIRST PAYING GIG, TOO.

It's hard to imagine a gentle, soft-spoken, children's education advocate like Rogers sitting down to enjoy a gory, violent zombie movie like Dawn of the Dead, but it actually aligns perfectly with Rogers's brand of thoughtfulness. He checked out the horror flick to show his support for then-up-and-coming filmmaker George Romero, whose first paying job was with everyone's favorite neighbor.

“Fred was the first guy who trusted me enough to hire me to actually shoot film,” Romero said. As a young man just out of college, Romero honed his filmmaking skills making a series of short segments for Mister Rogers’ Neighborhood, creating a dozen or so titles such as “How Lightbulbs Are Made” and “Mr. Rogers Gets a Tonsillectomy.” The zombie king, who passed away in 2017, considered the latter his first big production, shot in a working hospital: “I still joke that 'Mr. Rogers Gets a Tonsillectomy' is the scariest film I’ve ever made. What I really mean is that I was scared sh*tless while I was trying to pull it off.”

13. ROGERS HELPED SAVE PUBLIC TELEVISION.

In 1969, Rogers—who was relatively unknown at the time—went before the Senate to plead for a $20 million grant for public broadcasting, which had been proposed by President Johnson but was in danger of being sliced in half by Richard Nixon. His passionate plea about how television had the potential to turn kids into productive citizens worked; instead of cutting the budget, funding for public TV increased from $9 million to $22 million.

14. HE ALSO SAVED THE VCR.

Years later, Rogers also managed to convince the Supreme Court that using VCRs to record TV shows at home shouldn’t be considered a form of copyright infringement (which was the argument of some in this contentious debate). Rogers argued that recording a program like his allowed working parents to sit down with their children and watch shows as a family. Again, he was convincing.

15. ONE OF HIS SWEATERS WAS DONATED TO THE SMITHSONIAN.

In 1984, Rogers donated one of his iconic sweaters to the Smithsonian’s National Museum of American History.

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5 Things You Might Not Know About Ansel Adams

You probably know Ansel Adams—who was born on February 20, 1902—as the man who helped promote the National Park Service through his magnificent photographs. But there was a lot more to the shutterbug than his iconic, black-and-white vistas. Here are five lesser-known facts about the celebrated photographer.

1. AN EARTHQUAKE LED TO HIS DISTINCTIVE NOSE.

Adams was a four-year-old tot when the 1906 San Francisco earthquake struck his hometown. Although the boy managed to escape injury during the quake itself, an aftershock threw him face-first into a garden wall, breaking his nose. According to a 1979 interview with TIME, Adams said that doctors told his parents that it would be best to fix the nose when the boy matured. He joked, "But of course I never did mature, so I still have the nose." The nose became Adams' most striking physical feature. His buddy Cedric Wright liked to refer to Adams' honker as his "earthquake nose.

2. HE ALMOST BECAME A PIANIST.

Adams was an energetic, inattentive student, and that trait coupled with a possible case of dyslexia earned him the heave-ho from private schools. It was clear, however, that he was a sharp boy—when motivated.

When Adams was just 12 years old, he taught himself to play the piano and read music, and he quickly showed a great aptitude for it. For nearly a dozen years, Adams focused intensely on his piano training. He was still playful—he would end performances by jumping up and sitting on his piano—but he took his musical education seriously. Adams ultimately devoted over a decade to his study, but he eventually came to the realization that his hands simply weren't big enough for him to become a professional concert pianist. He decided to leave the keys for the camera after meeting photographer Paul Strand, much to his family's dismay.

3. HE HELPED CREATE A NATIONAL PARK.

If you've ever enjoyed Kings Canyon National Park in California, tip your cap to Adams. In the 1930s Adams took a series of photographs that eventually became the book Sierra Nevada: The John Muir Trail. When Adams sent a copy to Secretary of the Interior Harold Ickes, the cabinet member showed it to Franklin Roosevelt. The photographs so delighted FDR that he wouldn't give the book back to Ickes. Adams sent Ickes a replacement copy, and FDR kept his with him in the White House.

After a few years, Ickes, Adams, and the Sierra Club successfully convinced Roosevelt to make Kings Canyon a national park in 1940. Roosevelt's designation specifically provided that the park be left totally undeveloped and roadless, so the only way FDR himself would ever experience it was through Adams' lenses.

4. HE WELCOMED COMMERCIAL ASSIGNMENTS.

While many of his contemporary fine art photographers shunned commercial assignments as crass or materialistic, Adams went out of his way to find paying gigs. If a company needed a camera for hire, Adams would generally show up, and as a result, he had some unlikely clients. According to The Ansel Adams Gallery, he snapped shots for everyone from IBM to AT&T to women's colleges to a dried fruit company. All of this commercial print work dismayed Adams's mentor Alfred Stieglitz and even worried Adams when he couldn't find time to work on his own projects. It did, however, keep the lights on.

5. HE AND GEORGIA O'KEEFFE WERE FRIENDS.

Adams and legendary painter O'Keeffe were pals and occasional traveling buddies who found common ground despite their very different artistic approaches. They met through their mutual friend/mentor Stieglitz—who eventually became O'Keeffe's husband—and became friends who traveled throughout the Southwest together during the 1930s. O'Keeffe would paint while Adams took photographs.

These journeys together led to some of the artists' best-known work, like Adams' portrait of O'Keeffe and a wrangler named Orville Cox, and while both artists revered nature and the American Southwest, Adams considered O'Keeffe the master when it came to capturing the area. 

“The Southwest is O’Keeffe’s land,” he wrote. “No one else has extracted from it such a style and color, or has revealed the essential forms so beautifully as she has in her paintings.”

The two remained close throughout their lives. Adams would visit O'Keeffe's ranch, and the two wrote to each other until Adams' death in 1984.

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