I know the Wall Street Journal is basically The New York Post with more boring graphics, but I'm still a little stunned that 2008 isn't even over yet and someone has paid for Mark Penn's thoughts. And no, it's not his thoughts on the perfect cheeseburger or the best way to avoid the sun. It's the damn economy.
If the post-war economic expansion brought us the baby boom, this crisis may bring us a baby squeeze — a sharp reduction in births nine months from now, as refraining from having kids is the ultimate consumer pull-back. And instead of staying home, the evidence shows that more couples are going to the movies, with attendance up for this relatively low-cost evening.
People don't talk much about their mattress-stuffing behavior. It kind of defeats the purpose if you tell people where your stash is. But there's a hunger out there for security hedges — a gun, some cash, a little gold, a small safe in the bedroom — in case all the ATMs suddenly shut down. The TV shopping channels could be hawking that "Safe Haven" combination right now, a complete home solution.
Huh? Beats me. But he must know what he's talking about, right? Just ask President-elect Hillary Clinton.
Tags: Economy, Mark Penn