MEGAN MCARDLE: Time to Short Jenny Craig? “Today’s Wall Street Journal reports that consumer spending on food registered the steepest drop we’ve seen since the government started collecting statistics 62 years ago. That’s not just restaurant spending, although that did fall sharply, but a series of shifts towards eating at home, preparing cheaper foods, and buying cheaper brands of the same foods. Cheap staples like milk and eggs rose slightly, while meat, sweets, and alcohol all fell.”

Hope, change, and (store-brand!) mac’n’cheese. None of that fancy stuff.