Sacred Cods and Holy Mackerals

I’m confused…
February 23, 2009, 2:27 pm
Filed under: Uncategorized

I keep reading all these stories about this terrible recession that we are in. Some economists are saying we’re on our way into a Depression. The Nit-witsphere is predicting widespread civil unrest as socialism dawns. 

Yet has a story up right now that says ski resorts are having a fantastic year. The Boston Herald ran a story today that quoted the CEOs of Samuel Adams, Harpoon, and Cisco Breweries all saying business remains great for micro-breweries. Hotels in New Orleans are nearly fully booked for Madi Gras. Upscale cosmetic shops continue to sell out of $1,400 skin cream. Pet owners are still pampering their pooches. Christ, even US Airways  says business is so strong that they are able to keep drinks free for coach passengers.

Also, Wal-Mart is posting big profits, as is McDonald’s and KFC.  

So what’s going on???

My take is that this has been primarily, and remains, a recession predominately for the working-class brought about by the contraction of credit. Because that’s how the working-class has been able to survive the last few years. They weren’t the beneficiaries of the latest economic boom. They were surviving on credit! And now that ever-expanding credit limit is gone, and so is their buying power. And their homes. And their 401Ks.

Look at what’s struggling: mid-level retailers and chain restaurants. Families can’t afford to go to JC Penny, so they go to Wal-Mart. Families can’t afford to go to Cheesecake Factory, so they go to McDonald’s. Casinos are struggling lagely due to a drop in their biggest money-makers: slot machines. And I ask which economic class plays slot machines?  

I’ve yet to hear of very many Nordstrom’s going out of business. Or Elizabeth Grady salons. Sure, Locke Ober cut back on its lunch schedule. But let me know when it, or No. 9 Park, or Brasserie Jo goes out of business.  How many foreclosures have there been in Wellesley? Or Dover? Or Cohasset?

Am I wrong? If so, please set me straight…

1 Comment so far
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Thanks for the Brasserie Jo mention (we think). We hope to never go out of business but not because we offer “fancy eats” but because we are a true “Brasserie”. True brasseries offer a fun convival atmosphere and as Chef Joho says himself “Four Star Food at One Star Prices”. We’re grateful to our loyal customers and following and will continue to offer affordable french dining to the Boston community. This year we celebrated our 10th anniversary! CIAO and Bon Appetit

Comment by Brasserie Jo

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