Ladies and Gentlemen,
America is currently experiencing the first major loss in beer sales since beer sales began to be recorded in 1959.
According to FiveThirtyEight.com,
There has generally not been much of a relationship between alcohol purchases and changes in GDP – the correlation is essentially zero. Nor have alcohol purchases historically been any kind of lagging or leading indicator. But something was very, very different in the fourth quarter of 2008. Sales of alcohol for off-premises consumption were down by 9.3% from the previous quarter, according to the Commerce Department. This is absolutely unprecedented: the largest previous drop had been just 3.7%, between the third and fourth quarters of 1991.
What Does This Mean For America?
The unprecedented drop in beer sales will no doubt be one more nail in the coffin of consumer confidence.
We are living in a new age of instantaneous information and media transparency. The current economic crisis is unlike any other in our history in that we now have a mass media that reminds all of us of how bad things are getting every minute, rather than every week, or every month. This constant bombardment of negative news is currently acting as a catalyst for the quick and constant erosion of consumer confidence, and in consequence consumer spending.
If the media reports are right, and if we really are entering a global economic downturn feared to be worse than the Great Depression, then I think we all need to crack open a beer and celebrate the good times while they are still around.
If the media is over-exaggerating the future chaos that is in store for our economy, then we should still crack open a beer. Alcohol is a wonder drug when consumed in moderation – it relaxes you and reminds you that the stressful issues and anxieties you thought were of utmost importance previous to consumption really might not be as bad you thought they were.
So then, I propose a toast: Here’s to optimism!…Now go buy some beer and stimulate the economy!
Images used in this Post
Drive In Liquor Store photo courtesy of Flickr user Nrico published under the CC license.
One Comment
I would be honored to do my part in supporting the Beer market. Finally, we’ve reached a point in the development of our society where drinking is considered patriotic. God bless America.