With the foreclosure rate through the roof here in the US of A and the fate of Fannie Mae and Freddie Mac nervously taking up residence in the backs of our minds, it is about time for some good news.
Sure the economy is as low as it’s ever been in my short but pleasant life, but consumers across this great nation are standing up for what’s important: beer! When times are tough, uncertain, and scary, we Americans often resort to our guilty pleasures to cope. In the past, smoking and gambling were prime seducers, but with the outlawing of public smoking across the nation, and the high price of gas, beer is King.
According to a Washington Post article (the source for this half glass full story), beer consumption is at an all time high. In July more than 16 million barrels of domestic brew were sold here in the us, up 1.4 percent, the largest increase since 1990, and impressive increase for such a rooted industry, so says the Beer Institute. Try to remember 1990…American soldiers were shipping off to Iraq, George H. W. Bush was in office, and the US economy was stumbling into a recession. Sounds eerily familiar, right?
Study after study has shown that beer is recession resistant. A recent UK study showed that beer consumption rises steadily alongside unemployment. Why? Well, in tough times, we cut out our luxuries. I did! We kissed goodbye to dining out, cable television, and cut down on gasoline consumption. But beer, is a simple luxury, which can be accommodated. For a few bucks we can sit around, quaffing the good brew, and gripe and complain about this fumbling economy. (Investors…take note!)
Truthfully, alterations have been implemented in my own beer drinking. It is no long a refrigerator staple, but a luxury. How has the economy affected your beer consumption?