• 10.22.08

Reader Generated Economic Indicators – How *You* Know We’re Hosed

Also known as the “‘I’d Gladly Pay You Tuesday for A Gewurztraminer Today’ Index”, an eagle eyed trend watcher spots an alarming spike in cash-strapped oenophiles.



Rita Gunther McGrath, a reader from NYC (and an associate professor at the Columbia Business School) writes:


“There I was, in my favorite local wine shop, and attempted to pay by check (as I usually do – they charge more if you pay by credit card). The young man, a new employee, serving me, said “Oh, I don’t know if we can accept checks any more – in this last month, we’ve had a huge increase in bounced checks.” Bounced checks at the liquor store – a sure sign of down times. Oh, and the manager did OK my check, eventually. I guess when life looks glum and you can’t think of a better solution, getting some hooch and drowning your sorrows looks pretty attractive.”


Rita is the author of the forthcoming Discovery Driven Growth (2009 Harvard Business School Press). Check out for her books, bio and blog.