NightBlogger

Major retailers say sales of house brand items are climbing as shoppers look to save a few pennies in a downbeat economy. Wal-Mart, Safeway and Kroger say their store brands have traditionally sold well and sales have recently increased. The Food Marketing Institute, a trade group in Arlington, Virginia, says about 60% of shoppers say they now buy some store brands. Kroger offers “Private Selection.” Safeway offers “O Organics.” Wal-Mart rolled out “All Natural”. Do Brand X disposable diapers beat Pampers? Probably not, but an increasing number of shoppers appear willing to experiment with the cheaper product. More

The US financial crisis is spreading from subprime borrowers to wealthier consumers, with evidence mounting that more affluent people are failing to pay their mortgages and credit card balances. Growing concerns over the financial health of richer borrowers are prompting banks and card issuers to tighten lending practices in moves that could futher dampen consumer confidence and spending more. Banks such as JPMorgan Chase and credit card groups such as American Express have clamped down on lending to customers that have traditionally been regarded among the safest and most profitable borrowers. “The crisis is just starting to spread beyond the middle class,” said Curtis Arnold, founder of CardRatings.com. “Even folks with good credit-ratings scores are no longer immune from adverse actions from their card issuers.” More

More consumers are turning to brown-bagging to save money, according to a new study by market research company NPD. The New York consulting firm said more consumers are “brown-bagging” because it’s more valuable, healthy, convenient, tasty and simply better alternative to buying lunches every day at local restaurants. More

Barbara L. Minton
Natural News
Predatory lenders had a partner in their crimes according to Eliot Spitzer. The Bush administration looked the other way and did nothing to protect American homeowners from egregious lending practices, choosing instead to align itself with the banks that were victimizing consumers as predatory lending became a national disgrace.

In an article for The Washington Post, written shortly before Spitzer’s resignation as Governor of New York, he reports that several years ago state attorneys general and others involved in consumer protection began to notice a marked increase in the range of predatory practices of mortgage lenders. Some lenders were misrepresenting the terms of their loans, granting loans without regard to consumer’s ability to repay, using ‘teaser’ rates that later ballooned into huge payments, filling loans with hidden charges and fees, and in some cases paying illegal kickbacks. Read more

Photo courtesy of StormyDog

As farmers confront mounting costs and riots erupt from Haiti to Egypt over food, farmers pay the price for Wall Street’s speculation in grain markets. “It’s the best of times for somebody speculating on grain prices, but it’s not the best of times for farmers. The demand for futures exceeds the demand for cash grains.” Commodity investors control more U.S. crops than ever before, competing with governments and consumers for dwindling food supplies. Demand is rising with population and income gains in Asia, while record energy costs boost biofuels consumption, sending grain inventories to the lowest levels in two decades.
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Photo courtesy of Traci
Canadian Press
Today’s young environmentalists were brought up with the concept of a planet in peril, reinforced by recycling seminars at school and an animated Captain Planet saving the world every week. For some, the stereotypical climate change crusader may still be a youthful, shaggy-haired activist chained to a tree. But a new trend is emerging - while Generation Y is still the greenest demographic, the baby boomers are hopping on the environmental bandwagon in droves. And due to their enormous clout as consumers and voters, their support could provide the tipping point in forcing everyone else to go green too.
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