Mike's Minute: Quality is recession proof

I am hoping events this week, at least in some small way, teach us all a simple economic lesson or two. 

Lesson 1: the red meat numbers. 

We export a fortune in meat to the world. The critical part of it is it is the best of quality – quality will always beat quantity.  

Why? Because the world will always contain large numbers of people unaffected by economic tides, and people with money like good stuff. 

There are some things in life beyond the prevailing tide – Château Lafite, Bugatti cars, Rolex watches, and New Zealand meat and indeed wine. Not literally, but you get the point. 

Onions will sell better in Europe because of our free trade agreement with the EU. We need fewer tariffs in that case because onions are onions, but meat is about quality. Like kiwifruit is. Like great Boudreaux wine is.  

That’s not to say tariffs are good business, because they are not. And lord only knows how rich we could be if the world really was truly tariff free, but for the here and now our red meat numbers into America are unaffected because people will pay for quality. 

Lesson 2: the job numbers. More people, young people, have stayed in or gone back to school because if they didn’t, they would be jobless. The 15 to 24 age group have an unemployment rate of over 15%. It’s shocking. 

Why? Because a constrained market doesn’t provide work for people with limited or no skills. 

Young people start out with the disadvantage of no experience, add no skills to that and you are toast. 

This is not new, but it is new to the current lot, who clearly never got the previous lot’s memo that it’s hard enough as it is to get into the job market without turning up ill-prepared. 

But here is what I know about life and economies: it doesn’t matter what the economic circumstances are, good people with good skills and good attitude and good determination are always, always, in demand and will do well. 

And good stuff, well made, with a story, high in quality, will always, always, do well. 

Quality, whether in person or product, is recession proof. 

See omnystudio.com/listener for privacy information.

Episode Transcript

Speaker 1 (00:00):
Tell you what I'm hoping events this week, at least
in some small way teach us all a simple economic
lesson or two lessen one the red meat numbers we
export a fortune and meet to the world. The critical
part of it is it is the best of quality.
Quality will always beat quantity. Why because the world will
always contain large numbers of people unaffected by economic tides,

(00:20):
and people with money like good stuff. There are some
things in life beyond the prevailing tide Chateau Lafitte, Buchetti, cars, rolls, watches,
and New Zealand meeting quite possibly in New Zealand win
not literally, of course, but you get my point. Onions
will sell better in Europe because of our FTA with
the EU. We need fewer tariffs in that case, because
onions are onions. But meat is about quality, like Kiwi fruit,

(00:41):
like great Bordeaux wine is. That's not to say that
tariff's are good business, because they are not. And Lord
only knows how rich we could be if the world
really was truly terror free. But for the here and now,
our red meat numbers into America are unaffected because people
will pay for quality. Listen to the job numbers. More
people young people stay or gone back to school. Because

(01:01):
of they didn't, they'd be jobless. The fifteen to twenty
four age group yesterday have unemployment rates now of over
fifteen percent. It's shocking why Because a constrained market doesn't
provide work for people with limited and those skills. Young
people start out, of course, with the disadvantage of no experience.
Add no skills to that in your toast. This is
not new, but it is new to the current lot,

(01:22):
who clearly never got the previous lot's memo that it's
hard enough as it is to get into the job
market with up without turning up ill prepared. But here's
what I know about life and economies. It doesn't matter
what the economy, the economy, or the economic circumstances are.
Good people with good skills and good attitude and good
determination are always always in demand and will always do well.

(01:45):
And good stuff well made with the story high end
quality will always always do well. Quality, whether in person
or product, is recession proof. For more from the Mic
Asking Breakfast, listen to news talks it'd be from six
am weekdays, or follow the podcast on iHeartRadio.