The countercyclical asset, a continuing series
Mr. McFarland, a third-generation cobbler, is riding a shoe-repair
boom. Since mid-November, he has been juggling roughly 275 repair jobs
a week — about 50% more than usual. "I'm so busy right now it's
unbelievable," he says.
Retail sales for shoes are down 3.2%.
Loyal MR reader Michael Tofias suggests that perhaps The Snuggie is a countercyclical asset as well.