Estimated Profit Posted August 25, 2010 Share Posted August 25, 2010 Canary in a coal mine? http://www.bloomberg.com/news/2010-08-24/british-nightclubs-shut-as-economy-forces-revelers-to-stay-home-with-booze.html Link to comment Share on other sites More sharing options...
Parsad Posted August 25, 2010 Share Posted August 25, 2010 No, it just means people are cocooning because it's cheaper. After every downturn in the economy this happens. Depending on the degree of downturn, the greater the level of impact. Remember when areas of Time Square were completely boarded up in the 70's? Or the downturn in the California economy after the late 80's/early 90's real estate crash. The same thing happend, although not quite as obvious, in San Jose and Silicon Valley after the tech wreck. When the tap gets turned off and the lights come on, everyone goes home from the party...and usually with an unpleasant headache and bad breath! ;D Cheers! Link to comment Share on other sites More sharing options...
Carvel46 Posted August 25, 2010 Share Posted August 25, 2010 I agree with Parsad that this is standard recession behavior by the consumer. UK club culture will be just fine. Although, I did read an interesting article about Japan (I hope it wasn't already posted): http://www.nytimes.com/2010/08/22/opinion/22kato.html I don't mean to start a big discussion about the macro similarities and difference between Japan and US. I just thought it was an interesting op-ed. Link to comment Share on other sites More sharing options...
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