Starbucks and Macroeconomic activity
Posted November 4, 2008on:
Over at 100 word blog, Richard notices an interesting phenomenon – namely that areas with more Starbucks are being more heavily hit by the credit crisis. Now this isn’t good for NZ – as we have over 40!
Looking at this only provides us a correlation – not causation, as the Starbucks are not causing the credit crisis. However, there may be a factor related to the number of Starbucks which is infact a causal factor for the intensity of the credit crisis.
Mentioned on 100 word blog is:
- It is an indication of “risk-taking industries” who use Starbucks (the “wanker” effect),
- It illustrates a greater national preference for current consumption ahead of future consumption (investment),
- It indicates more highly integrated capital markets.
I agree with all three – but especially the second one. What do you guys think?