Americans Drinking Their Way to Recovery
May 1, 2010
They also spent more at bars - That’s the key phrase of the most recent economic report showing GDP growth in the United States.
Consumers increased their spending at an annual rate of 3.6 percent in the first quarter. It was the strongest showing since early 2007 — before the Great Recession. And it marked a big improvement from the fourth quarter, when spending grew at a lackluster 1.6 percent pace.
Americans spent more on home furnishings and household appliances, recreational goods and vehicles and clothing. They also spent more at bars and restaurants.
Do you view this as a valid way to increase economic activity? In my humble opinion 200 unemployed people in a bar spending their unemployment debit card is not the way to recovery.
At current growth rates the city of Pottsville PA home to Yuengling brewery will be the largest most economically viable city in the next 20 years if drinking lagers is what is driving up the GDP.
This isn’t viable, it’s not sustainable. This is my opinion, but it is firmly based in fact.
Someone please think of another bubble to suck up unemployment, and if you are currently unemployed.. please go get your college diploma if you can afford it though loans. Whatever the next big thing is, you are not going to get it with an 8th grade education.
It’s ugly out there, but it is the new reality.
Related Posts:
Comments
-
http://twitter.com/tourpro Doug Yu
Recognized by Advertising Age Magazine as top Power 150 news outlet for Advertising and Marketing.
Recognized and listed in Google News. Don't stress, we're Satire
Ad Agency Advertising
