Yet that got me wondering. If millions of people were out celebrating, isn't that just what the economy needs?
Think of it this way.
-Revelers go to bars, restaurants, pubs, etc. and buy drinks and food.
-The establishments need to buy food and drinks in order to serve their customers. So they buy from wholesalers and distributors.
-The wholesalers and distributors buy their product from the source (breweries, distilleries, farms, etc.)
-The money from the sale of all these products goes to these companies and employees who then go out and spend that money.
With all the glasses of Guinness poured yesterday, will the "green" from revelers wallets give our economy the much needed jolt? We've been patiently waiting for President Obama's stimulus package to start it's impact, but one of the biggest problems of this economy is that people are putting their cash under the mattress and not spending.
Granted, I'm not an economist, but it seems to make sense to me that if everyone were to pick up their spending habits similar to those from a year ago, the economy would turn around faster. That being said – we shouldn't dive back into the excessive and extravagant lifestyles from our recent pasts, but a responsible spending medium that benefits everyone and keeps America afloat.
But maybe, I'm all wrong. What do you think?