The Economy And Your Habits...going out to eat...

[RandomAnthony]

Lately I've had a couple interesting conversations about how people are responding to economy in the daily habits. For example, I thanked our vet for getting us in at the last minute. He said that it was no big deal because, in his eyes, the economy was causing some people to cut back on vet services. Also, a longtime stalwart local restaurant chain in Milwaukee just announced it was closing after many years. The owner cited people going out to eat less due to the economy as a major factor.

You know what I think is particularly interesting? I'm starting to think even people who have jobs and aren't in particular danger of losing their jobs are cutting back. Maybe Americans are reaching a saturation point (esp. post-holidays) in the consumptions of non-essential goods. Although, of course, the definition of "essential" is up for argument; I'd consider vet services essential.

What do you think? Have you cut back on anything? Why? Have we as Americans reached the threshold of consumption?

I'm also esp. interested in this question in the context of the restaurant business. Do you go out to eat a lot? I don't, but that's 1) because we have kids, and I'd rather just eat at home than have to worry about the kids not liking the food, getting bored, etc., and 2) I like eating at home. I don't feel much of a need to go out.

What do you think?

[Erica]

i wish this were true, but where i'm at everyone is shopping more frantically than ever. i feel very disoriented. i hear the news stories, but i see no evidence of it in my own life. maybe there are just so many people in the world if half of them don't shop it makes no difference. i read that the invention of fixing nitrogen was the big breakthrough - without it, most of us would not be here. i suppose that was the big, big mistake.

i just spent 500 dollars on my cat's dental.

i don't go out to eat 'cause i can cook better than that.

[Jackie "the Librarian"]

Fixing nitrogen, Erica?

[RandomAnthony]

Interesting. I thought maybe I was being a little naive, Erica.

A couple of questions...

1. Where does nitrogen fit?

2. If we still have the thirst to shop, why are some stores/chains struggling?

[Erica]

i read it in the omnivore's dilemma, that's where i read it. without synthetic fertilizers, there would not be enough food to create all these humans. i just googled it, and got an article from a guy disputing that claim. otherwise, without the fertilizers, you have to rotate crops - certain beans fix nitrogen and other crops take it away.

i don't really know the answer to question 2, other than my neighborhood seems to be awash with compulsive shoppers. no one's slowing down around here.

is anything really different or are we just now supposed to be immune to businesses going out of business? it used to be allowed to happen, now everyone gets a bailout. i just read that dude who owns - what's that really trashy porno mag? hustler - he wants a bailout. i think he should get it. this is a 12 billion dollar business that cannot be allowed to fail!

[[deleted user]]

RA, As long as the restaurant wasn't a little Italian place in the 3rd Ward, that place is great.

We usually eat out once a week, but we have cut back on some things, and are postponing doing others. We have always been pretty good about saving money, and have very little debt, but you never know what the next day may bring.

[Charly]

I work in retail and we just came through an absolutely booming Christmas season. we're a membership club and we added 1400 members over the last quarter. We sell food as well as general merchandise.

I think if there is a saturation it may be types of stores in certain locations. In our area we have a Best Buy and a Circuit City across the parking lot from each other. I'm surprised the CC lasted as long as it did.

As for restaurants I think recent start ups are in trouble but those with a history will survive. But I think we as a nation are beginning to look at value and price a bit more and are refusing to pay full price for anything.

[Sally, la reina]

It astounds me that prices were so inflated that a pair of jeans can be marked down 70% and retailers can still make a profit. What?

[Kevin]

seems retailers charge what the market will bear. in a good economy a taco at taco bell is $1.19 when times get tough they drop it to $0.89 and sell em for that. if they can get the full blown enchilada for the jeans without discounting them they will take it. i saw an article in the Indy Star where a pizzeria is trading pizza for stocks. he will give you like $500 worth of pizza credit for $500 worth of stocks. now there is some forward thinking