The countercyclical asset, a continuing series

by on February 2, 2009 at 8:19 am in Current Affairs | Permalink

Shoe cobblers:

Mr. McFarland, a third-generation cobbler, is riding a shoe-repair
boom. Since mid-November, he has been juggling roughly 275 repair jobs
a week — about 50% more than usual. "I'm so busy right now it's
unbelievable," he says.

Retail sales for shoes are down 3.2%.

Loyal MR reader Michael Tofias suggests that perhaps The Snuggie is a countercyclical asset as well.

57 comments submit to reddit

D iversity February 2, 2009 at 8:49 am

Yup. And here in Spain a domestic appliance repairer says he is about 50% busier than usual. The world is marching in step even if we have holes in our shoes.

E. Barandiaran February 2, 2009 at 10:14 am

Let me give you an example a cyclical asset: Tax cheaters. As shown by Tim Geithner and Tom Dashle and who knows how many other politicians, in booming times it’s hard to fill tax forms properly. Maybe you can credit Obama with popping this bubble.

E. Barandiaran February 2, 2009 at 10:16 am

Let me give you an example a cyclical asset: Tax cheaters. As shown by Tim Geithner and Tom Dashle and who knows how many other politicians, in booming times it’s hard to fill tax forms properly. Maybe you can credit Obama with popping this bubble.

martin February 2, 2009 at 10:17 am

Personally I am waiting for the small electronics repair shop to make a comeback. Not one within 50 miles of where I live in N Cal. Diversity confirms my faith that this is a growing business opportunity for now at least.

GVV February 2, 2009 at 11:17 am

Wonderful example that I can narrate in the class room-yet one doubt-cobblers operate in which sector of the US economy?Organised or informal? Does there exists an informal sector in the US? So there is no vertical upward occupational mobility among American cobblers ever since Great Depression?

Jim February 2, 2009 at 12:26 pm

Snuggle is showing up everywhere lately- collegehumor via AS the other day,

http://andrewsullivan.theatlantic.com/the_daily_dish/2009/01/available-in-bl.html

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