How the World Works

By Andrew Leonard
Tuesday, April 8, 2008 15:10 PDT

The Starbucks economy

Forget about the millions of foreclosures, rising unemployment, gas and food price inflation -- you want to know how to tell the economy is really tanking?

Americans are cutting back on their morning lattes at Starbucks.

This tidbit comes to us from Time Magazine's Justin Fox, who writes in his "Curious Capitalist blog " that during a visit to Time's corporate offices on Monday, Starbucks CEO Howard Schultz said "For the first time in our history as a company, we have negative traffic this year vs. last."

― Andrew Leonard

Posted in: Economy

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A conversation about globalization.

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Is the Obama economic rescue plan a failure?
Swayed by GOP attacks, independent voters are abandoning ship. But the summer of stimulus love has hardly started
Are automaker woes skewing unemployment figures?
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