Recently in Off Beat Category

Recession? Shesmession.

| No Comments

Okay. Things are looking grim, I know. But I think there's plenty of good coming out of this recession.

For one thing, it's given fashion magazines all kinds of great fodder.  A recent "Go Ask Alice" column on style.com was titled, "Recession 101." In the article, a fashion columnist points to designer Alice Temperley as a guide to learn how to 'navigate the recession with a wink and smile.' From the title, you're sure the article will give you great tips on how to look like you're wearing a $3,000 dress when really it's from the clearance rack at Banana Republic. But, no, the article is actually about really wearing a $3,000 dress. Apparently Temperley hasn't felt the recession the way readers have -- she is still planning to open a 2,500-square-foot shop in Dubai. Where, presumably, she can sell $3,000 dresses to tycoons who would look at me in my DVF knockoff dress and say, "Recession? Shesmession."

Luckily for those of us actually dealing with the recession in our J.Crew chinos and Target flats, TIME Magazine offered a spread on "Recession Chic" in March of last year. "March of last year?" you ask! Yes.  Apparently Time magazine and fashion designers alike acknowledged what the Fed so hesitantly finally admitted in Dec. 2008.

In the spread, Times columnist Kate Betts predicted the downturn of color and prints on the runways to coincide with the downturn in the economcy.  Betts quotes Amy Winehouse and says it's "Back to Black" for the fashion world as stocks stay in the red.  Betts warns that the dour black of this recession won't be nearly as heroin-grunge chic as the early 1990's, but rather a much more sophisticated black.  Sharp lines and classic cuts will showcase the newly-discovered practical side of fashionistas.

The recession isn't just giving great fodder to heady institutions like Vogue and Time though.  Chick-lit age bloggers are getting great stuff out of the dour times, too.  It seems that most blogspots have blogs titled "The Recessionista," or some similar witty take on the phrase. What do these blogs have to offer? A variety of things ranging from five-star-restaurant-quality recipes you can make at home to listings of stores with great deals.  Some of them are no-nonsenes guides to more-frugal living, and other are wildly humorous tales of the horrors of shopping during a recession: everything's black! everything's last season! everything is too expensive for me now that my I-Banker boyfriend is jobless!

So, alright, if the economy picks up around the second quarter of this year, I guess I'll go with it. But until then, or if then, I'll keep frequenting my new favorite blogs. I'll proudly don my sophisticated black dress for lower-key cocktail parties, and I'll wear my off-the-rack washable knit pants to class with my head held high. For I can feel confident, with the support of bloggers worldwide, that I'm not deigning to wear off-the-rack clothes, but rather I'm just letting out my inner recessionista.  

 

-Alicia Budich, '11

Another offbeat (literally) economic indicator

| No Comments

I was listening to NPR about a week ago when Professor Phil Maymin, professor of finance and risk engineering from NYU came on the show and talked about the correlation between the markets and the most popular songs. He calls his theory "beat variance."

According to beat variance, if the markets are volatile, then the top Billboard songs will have a steady beat. This theory also works the other way: if the markets aren't crazy but hold steady, then the top songs will have more varied beats.

He said he used computer software and analyzed the variance in all 5,000 of Billboard's Hot 100 songs from 1958 to 2008. He came up with beat variance by looking at average beat from the 100 songs in per year and then comparing the variance to market volatility.

Against the backdrop of volatile markets, a recession and major changes in store for the economy, "Just Dance" by Lady Gaga is currently at #2 on the current Billboard Hot 100 List (it was at #1 until Kelly Clarkson's new single, "My Life Would Suck Without You", came out).

After watching the markets' erratic performance, apparently we just want to relax with "Just Dance" and its clear and steady beat, according to the theory.

Compared to "Just Dance," John Legend's "Ordinary People" has much more beat variance and therefore not as popular during turbulent economic times.

However, I think that the main demographic that listens to the top songs is one that doesn't really care about how the market or economy is performing (ie, 14-year-old teenage girls).

I asked my dad's broker what he listens to after a crazy day of trading.

"I just listen to The Eagles or Bob Dylan," he said. "What is Lady Gaga?"

I also think it's odd that the professor didn't consult any music scholars (I'm sure those people exist) or actual musicians about this type of stuff.

The professor also said that "Just Dance" calms you down, but I find I actually want to do what the song says.

So, I'm not sure about the beat variance in top songs as a reliable economic indicator.

But if you really want to hear the economy in the sound of music, check out this remix of the Busta Rhymes song "Arab Money" (which naturally has low beat variance, because Bus keeps it real). It's by underground hip-hop artist Emilio Rojas fittingly titled "Bailout Money" (be forewarned, there are curse words in the middle of the song). 

She don't get low; she doin' the Dow Jones
We don't broke the government got loans 
They gettin' bailout money


With love from the trading floor to the dance floor, 

Jess Ramos '09

About this Archive

This page is an archive of recent entries in the Off Beat category.

The Way I See It is the next category.

Find recent content on the main index or look in the archives to find all content.