They say vice is recession proof.
But that appears to depend on what you’re drinking.
Here, via Bloomberg Editor Michael McDonough, is a chart showing U.S. personal consumption expenditure on beer and wine from 2000.
As you can see, wine saw heavy losses as the economy began to tank, and has only just caught back up with beer, which saw a minor dip before continuing its incredible boom.
Which maybe means we’re at another top?
Anyway here’s the chart:
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