Sadly for many in the wine industry, the worldwide weakness in the economy is having a calamitous impact. Consequently, smart consumers are cashing in. Or should that be caching?
The news this past week was that prices for most expensive, and even moderately priced, red Bordeaux wines from the vaunted 2008 vintage, which aren't even released yet and won't be for at least a year, have dropped.
Because the 2008 wines have been rated as very good, the only reason for the announced lowering of their eventual prices is that few people are buying wine in quite the same way they were a decade ago when the economy was sailing along, fueled by the dot-com boom.
Updated: Sun Mar 20, 2016