It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
in addition, during the depression, candy was seen as an inexpensive and healthy meal replacement. In the 20’s candy bars like Baby Ruth, Milky Way and Mounds became popular favorites.
In sour economic times, a spoonful of sugar can make all the difference. Candy sales are soaring as Americans turn to the sweet stuff to escape the tanking economy, the New York Times reported. Nestle's profits surged a staggering 30 percent in 2008, while egg-making chocolate guru Cadbury saw their revenue rise 10.9 percent in the same period. Hershey gained 8.5 percent in the fourth quarter of 2008, when the recession slammed the country hardest. Candy makers and experts say Tootsie's on a roll because sweets are inexpensive and nostalgic, bringing patrons back to better, pre-recession times. "People may indulge themselves a little bit more when times are tough,” Edward Jones brokerage analyst Jack P. Russo told the Times. “These are low-cost items that people can afford pretty easily.” The candy industry is one of the only sectors to benefit from the bottomed-out economy -- low-cost sweet treats are doing better than ever on supermarket shelves even as stocks continue to dip and 401(k)s rapidly shrink.
The world is in a state of “late Great Depression,” well-known economist and author Robert Shiller told CNBC Monday.
The Yale economics professor, who helped devise the Case-Shiller index for housing market trends and famously called the dotcom bubble of the early 2000s and the housing market bubble later in the decade, told “Squawk Box Europe” that the world is in a “new age of austerity.”