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Bloomberg: Teens Skip $50 Jeans in Squeeze of Gas, Job Shortage

Trader Mark (July 5th, 2008) Writes:
In all the excitement this week I skimped on some fundamental/economic stories to focus more on the market and transactions. So we have some catching up to do.I said long ago as the economy weakens the last things to go would be teenagers and their Abercrombie (ANF) $100 jeans, and video games/gadgets. Well it appears all we have left now are the video games/gadgets. You know Americans are "pooring" when they won't even splurge on their kids. (Note to Bloomberg reporters - $50 jeans? In what Abercrombie store did you not visit to file your report?) (Note to Wall Street pundits - what will it take for you to admit we are in recession?)The financial pressures of adults are finally catching up with American teenagers. Since summer jobs dried up, gasoline prices topped ...

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