Today on TV ...the recovery has stalled and consumer spending did not increase.
Meaning with inflation and wages not going up...people are cutting back on purchases.
70% of the economy is driven by consumer spending.
Expect to see less people out having fun. Or spending less money when they do.
In other news...A KJ on face book playing in my area was complaining about the 7 people that showed up for karaoke. On Friday night...it's a smoking bar that has a younger crowd...
Absolutely pitiful turn out for the weekend. Mother's Day also killed my weekend attendance.
Bad Economic News
The bars could help the situation by lowering drink prices. The price of a beer in most of the nicer bars is outrageous. No wonder people stay at home and drink when bar prices are four times what they pay to drink at home. Lower the prices and make money on the volume of drinks sold.
I know one bar that does a "Bucket Night" on Thursdays were you can get 6 beers in a bucket of ice for ten dollars. They make a lot less profit per beer than the usual $3.00 per bottle but they sell a boat load of it and the place is packed.
I know one bar that does a "Bucket Night" on Thursdays were you can get 6 beers in a bucket of ice for ten dollars. They make a lot less profit per beer than the usual $3.00 per bottle but they sell a boat load of it and the place is packed.
There is a fine line with drink prices...Too high you scare most people away...too low and the place fills with Riff-raff.
Giving away free water and pop refills doesn't help the situation.
If the drink prices are too high people just buy less. Many times they drink at home before going out so they don't spend as much.
Don't underestimate the DUI factor...killing sales..
Memorial Day air travel is predicted to be over 5% lower than last year..
Greece had a run on banks monday...this is not a good indicator. If a few more countries have bank runs...we could easily follow them...
I'm not holding much hope for an improved economy in our lifetime...
15 trillion in debt is way too high...the school loan bubble is going to break. banks are still failing..the printing presses haven't even slowed down..housing sucks...and that's the "good" news..
Regulars that came steady only a few months ago have disappeared...
Giving away free water and pop refills doesn't help the situation.
If the drink prices are too high people just buy less. Many times they drink at home before going out so they don't spend as much.
Don't underestimate the DUI factor...killing sales..
Memorial Day air travel is predicted to be over 5% lower than last year..
Greece had a run on banks monday...this is not a good indicator. If a few more countries have bank runs...we could easily follow them...
I'm not holding much hope for an improved economy in our lifetime...
15 trillion in debt is way too high...the school loan bubble is going to break. banks are still failing..the printing presses haven't even slowed down..housing sucks...and that's the "good" news..
Regulars that came steady only a few months ago have disappeared...
