February 8, 2008
GOOD DAY FOR: Buyer’s remorse, after a new study showed that people spend more freely when they are sad. The “misery is not miserly” theory is not new, but today’s study shows that the tendency is magnified when depressed people are also self-absorbed. Of course, after the shopping binge, “there’s that sense of, ‘Oh my God, why did I spend money on this?’” says personal shopper Kalyn Johnson. (AP in Yahoo! Finance)
BAD DAY FOR: Transatlantic trade, after police in New York and Sicily nabbed 100 Mafia suspects, breaking up a nascent U.S.-Sicilian organized-crime partnership. Those arrested included the leaders of the No. 2 U.S. crime family, the Gambino syndicate. Prosecutor Francesco Messineo in Palermo said the Cosa Nostra was seeking the alliance because cocaine trafficking is “much more profitable than extortion.” (Financial Times, free registration)
of The Week magazine.