Drink More Wine
Don’t waste your time watching stocks slide on the DOW. Forget about what Ben Bernanke says. Watch the Wine Exchange.
Most people don’t even know there is a wine exchange (and I don’t mean the store in Orange that has the wine dispensers for tasting the new arrivals). You can see how the economy is doing by tracking prices on the fine wine index – which is looking pretty bad right now.
The LIV-ex 50 index is based on the prices of 5 Bordeaux wines – Haut Brion, Lafite, Latour, Margaux and Mouton Rothschild.
The top buyers of French wines for the last several years have been the Chinese. Alas, even China’s economy has put on the brakes. There are several reasons. The “quiet coup d’état” this past spring has the Chinese Communist Party big shots watching their P’s and Q’s and the U.S. consumer has realized they don’t need any more “stuff” with the “made in China” tag.
Interestingly enough, Bloomberg recently had a chart of the day showing the Shanghai stock market moving in tandem with vintage wine prices for the past year. The good news is our favorite wines will be cheaper. The bad news is we won’t have any money to buy them!
In the meantime, enjoy UB40 – Red Red Wine: