GOOD DAY FOR: Gilding the lily, after high-end retailer Neiman Marcus ignored the stock market collapse for its holiday gift guide, including such items as a $60,000 life-size Lego replica of you and your beloved, a $1 billion backyard golf course custom-designed by Jack Nicklaus, and a $250,000 “authentic” Guinness pub. The catalog is supposed to make people dream and smile, explained Ginger Reeder of Neiman Marcus Direct. “We’re not saying: ‘You’ve got to rush out and have yourself made in Legos.’” (Reuters)
BAD DAY FOR: The golden years, as stock market losses have wiped out about $2 trillion in U.S. retirement savings in the past 15 months, the Congressional Budget Office said. Pensions and 401(k)s—most Americans’ primary form of savings—have dropped about 20 percent, and that could force older workers to stay at their jobs longer than expected. (The Washington Post)
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
What to know before filing your own taxes for the first timethe explainer Tackle this financial milestone with confidence
-
The biggest box office flops of the 21st centuryin depth Unnecessary remakes and turgid, expensive CGI-fests highlight this list of these most notorious box-office losers
-
What are the best investments for beginners?The Explainer Stocks and ETFs and bonds, oh my
