In the coming years, what will debt-laden, SUV-driving soccer moms be willing to do to bring in some cash?
Well, ABC's Nightline gives us a tentative glimpse:
ABC News: "Ranches" See Job Apps Surge (** NSFW **)
Yikes. Watching the video, I snickered at how the deflationary effects of all this deleveraging just keep sliding down the pole. (Couldn't help myself. Sorry!)
Says the ranch's madam, Susan Austin:
This makes sense, sadly. It was fairly heartbreaking to see the young woman ("Kimberly") arriving at the Vegas airport at the start of the segment. In what had to be a monumental decision regarding how she'd create income for herself, her jeans were low-cut, yet her anxiety was high-rise and palpable.
Could she make "good" money in this oldest of professions? Probably. Some ladies, we're told in the story, bring in thousands per week.
But as Kimberly's hiring madam tells us, the money spigot has lately suffered from a bit of ... well, erectile dysfunction:
"The irony for Madam Susan," says the narrator, "is that while the money is drying up, more women are applying for jobs."
And the job applicants, according to Susan, are "going older."
To which I say: Yup. That's deflation in action at the bottoms-up level. (Man, this is too easy!)
The sentiment is echoed by one of the ranch's scantily-clad "independent contractors." When asked about whether service prices have declined:
See there? If you're a single, adventurous guy (or girl, I guess) with cash savings, there are D-cup deals to be grabbed. Frugality does have its rewards. And my curious mind inquires: How would one categorize such expenses in Quicken, exactly? Would a budget-minded soul set aside Freedom Account money each month?
Another young lady weighs in with her view of the economics of all this:
Fascinating stuff, really. But no matter how bad things get, something tells me this is one industry that won't be coming to Congress with their hands out, begging for taxpayer assistance.
In fact, Spitzerian history suggests that it's the other way around.