“Vice” Companies Weather the Recession
September 26, 2008 by Lauren Fairbanks
Photo by asier_co
Recessions can’t beat down every industry. Vice companies and their “sin stocks” tend to historically be immune to recession sales declines. Cigarette sales alone are said to reach $132 billion dollars this year, with alcohol coming in a close second at $77.8 billion. These statistics say something about the priorities of Americans. We’ll cut back on gas to save money, but we’ll continue to nurse our woes with booze and nicotine.
Now, I’m no angel. If throwing back a couple of cold ones and puffing the menthol dragon make you happy, by all means, consume away. But if Americans aren’t cutting back on these splurges during belt-tightening financial times, where are we cutting down? Is an evening buzz worth a lighter wallet?
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People will do anything that feels good regardless of cost or health risks! Gas doesn’t contribute to a good feel.
No, gas certainly does not contribute to a good feel. I live in Brooklyn and take trains all the time, and when I recently drove out to PA for a wedding, the amount of cash I spent on gas was shocking.
I haven’t driven a car in years so I’m a little out of the loop when it comes to paying for gas.