The Beanee-Weenee Economic Index

 

Image source: Amazon.com

For years there have been many economic indexes utilized as an indicator of the strength or weakness of the current economy. One index that was widely publicized for sometime was the Hot Waitress Economic Index which asserted that the higher the number of hot looking  servers in a food establishment, the weaker the current state of the economy. This indicator relied on the assumption that physically attractive individuals do not have any problem securing a high paying occupation during economic upturns, and that during times of economic downturns, physically attractive job hunter were forced to work as waitstaff. This index was unsubstantiated due to several other factors that were not properly taken into consideration.

Another index is known as Lipstick vs Nail Polish. The theory behind this index is that women splurge on cheaper luxuries when the economy is weak and money is tight. If gas is $3 a gallon, the budget has to be rearranged.  While this index seemed plausible from 2008-2011 while the majority of sale of goods was flat, nail polish soared by 65%, by 2013 nail polish sales began to fall off with the rest of the overall market.

One index relied on by former chairman of the Board of Governors of the Federal Reserve System Alan Greenspan was the sale of non-luxury items, in particular the sale of men's underwear. His theory was since the sale of men's underwear remains typically flat as men typically only purchase underwear when the need it, not based on fashion trends, any drop in the sale of men's underwear indicated a reduction on discretionary spending and therefor an indicator of a weak or struggling economy.

Having been a quiet observer of general trends in consumer goods for over 50 years, I humbly submit my own theorem that I call the Beanee-Weenee Economic Index (BEWEIDX). The theory is quite simple. Open a can of Beanee-Weenees and note the ratio of beans to weenies. The more beans and less weenies indicates a higher cost of meat and a weaker economy. The more weenies, the stronger the economy. 

I submit the validity of this BEWEIDX with supporting commentary. The late Dale Earnhardt once noted that underfunded racers "Gotta eat beans, wear jeans, and work all night."

Further, the Consumer Price Index (CPI) is one of the most frequently used statistics for identifying periods of inflation or deflation and is directly associated with the cost of living. CPI is calculated by comparing the price of consumer goods like transportation, food, and medical care. Additionally, the Food And Agriculture Organization of the United Nations (FAO) monitors the Meat Price Index. While the Federal Reserve Economic Data (FRED) specifically monitors over 25 different points of data related to the price and consumption of different meats

With this amount of supporting data, I submit to you, the Beenee-Weenee Economic Index (BEWEIDX) as a valid and ongoing indicator of the state of the economy.

Popular posts from this blog

The Legend of the Christmas Moose

I Want to get my Motorcycle License

Book Signing - Desoto Trail Regional Library, Camilla, GA