Ups and Downs in the Economy
I’m not an economist, but I’ve been making my own internal speculations about products and services that may be affected by the current economy. I figured activities like library visits, grocery store shopping and working out from home would be up, and eating out, going to the movies and getting haircuts would be down.
The Sun-Times featured an interesting article yesterday on the same topic (click here for a visual version of the article). Their lists of “ups” and “downs” reinforced some of my assumptions, but shattered one of them (okay, and some of the things on their list are just silly).
UPS:
- Seed Sales
- SPAM Sales
- McDonald’s Sales
- Book (American History, Romance, Science Fiction and Fantasy) Sales
- Library Book Borrowing
- Wine Sales
- Movie Attendance
DOWNS:
- Frozen Meals for Seniors
- Shark Attacks (???)
- Stocks
- Fortune-Telling
- Cigarette Sales
- Plastic Surgery
- Hotel Occupancy
What do you think of the list? Have you been making any speculations of your own?
(I hope this post doesn’t offend anyone or make anyone think I am not taking this very seriously. I just found the article interesting and wanted to share it.)
Themocracy
Another up I’ve seen has been sales at Goodwill and other resale shops. Those places are jam packed. If you have one near you, stop by sometime just to witness the madness that is a resale shop during a recession.
Ups: I can attest to the library being busier. I’d argue that the only book sales going up are paperbacks, not best-sellers/hardcovers. I suspect it’s the cheap wine that’s selling faster, and for SPAM, I’d read “cheap food” rather than just SPAM; so chicken instead of beef, sliced American instead of ‘fancy’ cheese, off-brand milk instead of Deans, etc.
Downs: Shark attacks, I think, implies people aren’t going on vacation. Frozen meals, I don’t get that at all; why just for seniors? I can see people buying fewer of them (though I’ve just started buying MORE instead of going out to eat, so whatever, anyway….), but why just “for seniors.” The rest just seem like discretionary spending cuts. I’ll bet Starbucks is down, too, for instance.
But a very goofy list, I’d agree. Fortune-telling right up next to Stocks? Really? 😀
The shark attacks make sense – out of all the one’s you hear about, how many of them are from local folks who know better, and how many are from the idiots who go on expensive vacations?
There was a big news story this morning about how our beef consumption has dropped in a major way (although, we’re about to start consuming more when I hardly eat any, because a friend auctioned off one of his steers for charity but the winner only wanted 300 lbs of it, so he’s giving out a lot. I think we’ll end up with 100 lbs or more. I’m working really hard on it not creeping me out.) The frozen meals for seniors? My worry is that they’re just not eating at all. Although, in truth? They’re cheaper now than they have been in years.’
The movies being up doesn’t surprise me either; we need to escape this nightmare. Think about how popular Shirley Temple was, and what was going on when she was all over the big screen. I think all of us are watching more tv and movies, whether out or at home.
Shark attacks? Like no one can afford to go to the coast so of course less people are in the water, hence less sharks attacking?
Volunteering is up. I’m reading about a lot of people who lost their jobs and are volunteering just to keep themselves busy, and so that when they do look for work they can show they are still being productive members of society.
Shark attacks–yes, a funny one, but I agree with the theory that reduction in vacations = fewer shark attacks on tourists.
I’d have to be all kinds of desperate to start relying on spam. But I do find myself still wanting to go to the movies right now, for the escapism Kyra mentions.
Kim,
Thanks for leaving a comment on my blog. I see you are also running the Madison 1/2 Marathon. Are you signed up for any races in Chicago?
I prefer running races in the suburbs since it is a pain to get downtown. I live in Lake in the Hills so I am equally as far out of the city as you.
Good Luck in your training!
Tony
Maybe shark attacks are down because people aren’t going on vacation as much and aren’t in a position to get attacked by sharks?
I just had lunch with Uncle Nick, he said that so called money experts are advising people to stay at home and not spend any money. On food or entertainment, his concern is if everyone listens to this advice what is going to happen to all the business’s, if it hurts the business it’s going to result in loss jobs etc. Maybe the advice should be live within your own personal means. If you are able to eat out do it and enjoy yourself.
Usually in hard times we see the birth rate go up, if you can’t afford to go out you think of something fun to do at home for free.
God, it’s rough, I do hope the seniors are eating too.
Tourism over all seems to be down… I wonder if marathon registrations will go down..
the sharks are cutting back due to the high sodium content of humans now that they are eating primarily SPAM and McDonald’s, they’re health conscious too ya know!
kapgar – I didn’t think about that! Have you been checking out Goodwill? I haven’t been to one in so long; only to drop off donations.
Cat. – I thought the frozen meals for seniors thing was weird too. I think it is some local thing, but I didn’t really get it.
Kyra – Is beef really expensive or something? That’s interesting. I will have to look into that. I think how people eat differently when they have less food is interesting. We haven’t changed much, but I’d like to read more about it.
sizzle – Yeah. I guess. LAME, right? 🙂
diane – I saw one of those Obama commercials about volunteering yesterday. I remembering reading about them but not really getting it. I think volunteering is a good idea, especially for a resume.
Tony – Hi, thanks for stopping by! I am singed up for the Kenosha Half Marathon right now – it’s a bit closer. We like to run races in the northern suburbs as well – we’ve done some fun ones in Libertyville and Lake Forest. 🙂
tori – I think that is it. Weird weird weird. So… are sting ray attacks down too?
mom – LOL! I am still laughing at the end of your comment! Someone at work was talking about that, and I didn’t really get it until you explained it now. I think what you said is very sensible – live within YOUR means. It’s dumb to advise people not to spend money at all. I am surprised. I have not heard anything like that. I keep hearing to pump money into the economy.
Nat – Doubt it! Runners are committed! 😉 Tee hee hee.
DeAnne – HA HA HA!!! You’re probably right. That is why Hawaiian people love SPAM – it keeps the sharks off!
I’m surprised movie attendance is up – I assume that meant the movie theater – because it’s not exactly a cheap thing for families to do. When comparing our movie prices to friends/family out of state, we seem to be the cheapest but it’s still $8+ per person for ticket, and double that if you want anything to eat or drink. I would think renting movies would be up, not going to the theater.
OMG!!! i almost fell out of my chair laughing at what your mom said!!! that is hilarious!!!! and at the same time like you said, so true… the economy scares me right now… i’m just hoping it will get better- relatively soon!!!
=^..^=
Jenn – That is what I would think too! It costs $9 a ticket here on a weekend! $9!?!??! HOLY CRAPOLA! 😉
CourtneyInControl – I totally started laughing when I read that too. Suppose we’ll see the results in abut 9 mos.? Hopefully we’ll see some better results in the economy then too!