Losing Its COOL at the Mall

This article was published on the New York Times website on April 22, 2009.  The article is about teenagers' spending habits, and how they are rapidly changing.  Studies have shown a direct correlation between the struggling economy and teenagers' shopping.  One teen in the article says that labels are not as big of a deal at school anymore, and that many teenagers are shopping at bargain or discount stores.  The article states that because of this, many malls are suffering.  The once "cool" Abercrombie and Fitch is seeing a huge decline in sales, because as one teen said "This stuff is too expensive".   Many people think that the recession is actually a good thing for these teenagers, and that their spending habits will be shaped by the fact that they are growing up during an economic recession.  I think that this is true, and I hope that in the future these kids will be more responsible than their elders have been with money.  If people can learn early enough in life how to manage and spend their money, we can hopefully avoid such major economic crises in the future.