When I served in the Iowa Legislature, I once talked to the manager of a grocery store who told me that he was always aware of the state of the economy well before national economists became aware of current economic conditions.
His store gave consumers the choice of buying many items within a certain price range: "high end," mid-priced, and low-priced generic.
If high-end items were selling well, the economy was in great shape. If consumers shifted to mid-priced items, there was uncertainty. If the biggest selling items were generic: uh-oh.
Following that same theme is the Waffle House Index, which measures the severity of storm damage in an area. A Waffle House serving a full menu indicates things are good; a limited menu reflects moderate damage, and a closed Waffle House in a town = yikes!
Tara will tell you that I was drawn to this story because I love me some Waffle House (h/t The Corner).
Backward and “Forward”
6 hours ago
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