As regular readers are no doubt aware, we like to check in on the hookers from time to time.
By that we of course mean SouthBay Research’s Vice Index, which tracks spending on fun activities in the cash economy.
Fun activities like boozing, gambling, and escort hiring. “Luxury good spending is sensitive to shifts in the economic winds, vice is even more so,” Andrew Zatlin reminds us. “A prostitute costs almost two days of after-tax wages [and] the consumer’s stack of money has to be a certain height before they can get on that ride.”