Blog > US Stocks and Markets > U.S. Markets: Could March Madness cause a recession?
 | Email This Article Email This Article  | 

U.S. Markets: Could March Madness cause a recession?

Posted March 24, 2008

"Companies may lose up to $1.7 billion in productivity as more than 37 million U.S. workers - ranging from mail room employees to the executives who actually run the companies - will take part in NCAA "Final Four" basketball pools." — William Pantalon

by William Pantalon

Baltimore – (TFN):  When you consider everything that American consumers have been through in the past year - the subprime mortgage crisis, the collapse of the housing market, the ensuing global credit crisis, soaring prices for oil, gold and such daily household staples as milk and dairy products - wouldn’t it be the ultimate irony if it ended up being something as offbeat and insignificant as "March Madness" that tipped the U.S. economy into a recession?

Don’t dismiss the theory out of hand.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

With the credit crisis, the foreclosure epidemic and the bear market looming, it’s more important than ever to know what’s going on. You need vital information on how to protect your investments… and how to profit, especially in areas immune from the U.S. subprime woes.

That’s where Money Morning comes in. No other daily newsletter offers you the advice, research, and insight on timely events that Money Morning can bring to you via e-mail first thing each weekday morning. Get a FREE subscription to Money Morning today!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

According to a survey by the well-known consulting firm, Challenger, Gray & Christmas Inc., companies may lose up to $1.7 billion in productivity as more than 37 million U.S. workers - ranging from mail room employees to the executives who actually run the companies - will take part in NCAA "Final Four" basketball pools.

It’s not like the old days when employees would slip away from their desks a few times each workday to watch snippets of the game on a single TV in the office, take long, late lunches for the same reason, or just plain phone in sick.

Thanks to technology, times have changed. Read on to learn how the NCAA tournament could send the economy hurtling into recession.

****Make sure you sign up for our free TFN News Feed for breaking news, special reports and new financial videos. You can pick your favorite reader . Or if you prefer, you can have the feed delivered to your email. 

Related Articles


Posted by TFN-US · Filed Under US Stocks and Markets 

Comments

close Reblog this comment
Powered by Disqus · Learn more
blog comments powered by Disqus