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Recession? Eat, drink, smoke and be merry
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by felixdakat | August 12, 2008 at 11:40 am
192 views | 4 Recommendations | 5 comments
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Even as consumers face soaring energy costs, rising food prices and higher mortgages or rent, it seems clear they're not prepared to forgo many of life's little treats _ alcohol, cigarette and candy makers are all reporting healthy sales amid the gloom.
Sin stocks, ranging from gambling to liquor, are usually a safe bet in hard times. While shares in some of those companies have fallen along with stock exchanges this year, lots are still seeing strong revenues and sales.
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Most RecentMost Recommended Comments (5)
at 11:46 on August 12th, 2008
Maybe they have to keep smoking to deal with all the stress of the recession?
at 11:49 on August 12th, 2008
Historically "sin stocks" always do well in recessions. People enjoy their vices which are less expensive than making large ticket purchases.
at 12:01 on August 12th, 2008
When I was living in Costa Rica a few years back, a retired fellow from Florida moved there because he could no longer pay for cigarettes in the states. His American brand was $1.10 a pack at our corner market compared to about $5 at his home in Delray Beach.
at 10:31 on August 14th, 2008
In times like these I go in the liquor store, and instead of reaching for one bottle on the top shelf, I reach for three on the bottom.
at 16:53 on August 14th, 2008
It's maybe not logical but at least understandable that facing inflation, devaluation and now a recession, people don't want to cut out the things they experience as their treats.