by Mark Silva
So the Dow hit a low unseen since 1997 today, but the real economic indicator of the recession at hand may lie in another measure:
"There has generally not been much of a relationship between alcohol purchases and changes in GDP -- the correlation is essentially zero,'' the good analytical folks at fivethirtyeight.com -- "politics done right'' -- note.
"But something was very, very different in the fourth quarter of 2008,'' they report. "Sales of alcohol for off-premises consumption were down by 9.3 percent from the previous quarter, according to the Commerce Department.
"This is absolutely unprecedented: the largest previous drop had been just 3.7 percent, between the third and fourth quarters of 1991.
"Beer accounts for almost all of the decrease, with revenues off by almost 14 percent,'' they add. "Wine and spirits were much more stable, with sales volumes declining by 1.6 percent and 0.9 percent respectively.
"Perhaps people are substituting Michelob and Coors for more expensive microbrews like Alpha King and Dogfish Head,'' they suggest, noting: "This is unpatriotic, by the way, since all the macrobrews are now owned by foreign-based multinational conglomerates.
"Stimulate your country -- and your tastebuds!)''
Comments
and here I thought they indicated my fishing trips....I feel better.
Posted by: bill r. | February 23, 2009 3:20 PM
Mark how is this a story? Really......the crux of this story is that a sector of the economy is tanking?!?! Show me one that is not, and that is a story, otherwise let's look at the big pircture items. How about you do a story on our tanking stock market today. I believe this puts us well beyond the percentage drop of the great depression, but I have not crunched the numbers lately. Maybe you guys could be the first one to name this depression. I would suggest the Great Bush Depression, which should be the only time those words should be used in a sentence together.
Posted by: Xcellentform | February 23, 2009 4:21 PM
I drink to taht Xcellentform!
Posted by: billyrollins | February 23, 2009 5:01 PM
hasn't slowed my beer drinking down much.
Shiner Bock RULES!
Posted by: graficgod | February 23, 2009 5:10 PM
Yeah, Repuglicans never cry in cheap beer, they cry in their expensive mixed drinks served to them by their hired help!
Posted by: A Convenient Fact | February 23, 2009 5:10 PM
I find it humorous that a website exists which is dedicated to the tracking of such non-sensical(?) issues.
A couple of days ago, we were told how the economy was affecting our relationships in the bedroom. Now were reading about how it affects our drinking. One would think that the reverse were true; more stress = more drinking. That's a plausible argument. But the reverse?
The difference might be that the people at the bar aren't buying rounds for the house anymore due to low cash flow. That's the primary reason for keeping me in. No cash. I geuss I'll just stay home and drink in my backyard. maybe I should change my call sign to Hermit the Lush
Posted by: ethan | February 23, 2009 6:12 PM
And who owns the largest brewery in America? It ain't Americans any longer. Show us some data we can sink our teeth into. Perhaps the sale of the mega-conglomerate brewery to a non-American company had something to do with this.
Posted by: Paul | February 23, 2009 6:23 PM
Support your local brewer; drink more Three Floyd's Alpha King.
Posted by: John Q | February 23, 2009 6:44 PM
See that dip betwwen 1999 and 2003? That's when I quit drinking.
Posted by: Rob | February 23, 2009 6:48 PM
Not much to drink to, in this 'Great Bush Depression'!
Posted by: Thomasburns | February 23, 2009 6:54 PM
Denver based MolsonCoors markets its products in a joint venture with Miller, Chicago based MillerCoors. How do you explain a company whose production operations are based in Colorado and Illinois as a foreign based company?
Posted by: JB | February 23, 2009 7:26 PM
But sales of cheap wine are surging.
Posted by: Flo | February 23, 2009 7:38 PM
"This is unpatriotic, by the way, since all the macrobrews are now owned by foreign-based multinational conglomerates."
Gives rise to the new 'Buy American' - quit drinking.
Posted by: John Q. Public | February 23, 2009 7:41 PM
Who cares! Beer sucks and is for losers such as Cubby fans. The less DUI's and drunk Cubby fans = good times for all, except those idiots!
Posted by: THE TRUTH | February 23, 2009 8:20 PM
I abused a friend all weekend for drinking foreign beer. He's from St. Louis for gods sakes! He should be drinking Shlafly not Budweiser, its belgian or something.
Posted by: Matto | February 23, 2009 9:19 PM
Who cares? Not the unemployed SOX fans in their State subsidised park....they usually stay home where the "still" is close to the rabbit ears television
Posted by: KOOPS | February 23, 2009 9:20 PM
"Gives rise to the new 'Buy American' - quit drinking. "
No no no...... that's bad for the economy; bars need business.
But, Drink American!!!
Posted by: gord | February 23, 2009 10:09 PM
"Denver based MolsonCoors markets its products in a joint venture with Miller, Chicago based MillerCoors. How do you explain a company whose production operations are based in Colorado and Illinois as a foreign based company?"
He was referring to Anheuser Busch.
Myself, I recommend the many fine products of Great Lakes and Bell's.
Posted by: Tracy | February 24, 2009 11:14 AM
"How do you explain a company whose production operations are based in Colorado and Illinois as a foreign based company?"
Because Miller is owned by SABMiller, a South African by-way-of London company.
It's a complicated question -- is Toyota, a company with huge American manufacturing base, an American company?
Posted by: zak | February 25, 2009 11:40 AM