I've not been very active on the Stereophile forum for the past few weeks because I've been spending my time online following the economic news. This morning I finally had the chance to log into the forum and I checked the new posts in the "General Rants'n'Raves" section of the forum fully expecting to see at least one thread dealing with the issue of the failing US (and possibly world) economy and what the impact might be on the world of high end audio. Since I could find no such thread I figured it was high time to start one.
So what, fellow forum members, are your thoughts on the future of high end audio in light of the current financial meltdown?
I'll start:
Economic hard times, such as we are presently experiencing, which involve individuals losing their homes and savings, are usually accompanied by people drastically reducing spending, especially when it comes to "luxury goods" and high end audio equipment falls squarely within the "luxury goods" category.
Based on these assumptions I would think that an extended economic downturn could and will have far reaching and very negative effects on the high end audio business. Many manufacturers will not be able to weather the storm and will fail and the manufacturers who can survive are likely to be recast into a radically different form from what they are today.
So what manufacturers will not survive?
What manufacturers will survive but undergo major changes?
What will be the fate of "cost no object" statement products?
Will the used equipment market become a bargain hunters paradise?
I've not been very active on the Stereophile forum for the past few weeks because I've been spending my time online following the economic news. This morning I finally had the chance to log into the forum and I checked the new posts in the "General Rants'n'Raves" section of the forum fully expecting to see at least one thread dealing with the issue of the failing US (and possibly world) economy and what the impact might be on the world of high end audio. Since I could find no such thread I figured it was high time to start one.
So what, fellow forum members, are your thoughts on the future of high end audio in light of the current financial meltdown?
I'll start:
Economic hard times, such as we are presently experiencing, which involve individuals losing their homes and savings, are usually accompanied by people drastically reducing spending, especially when it comes to "luxury goods" and high end audio equipment falls squarely within the "luxury goods" category.
Based on these assumptions I would think that an extended economic downturn could and will have far reaching and very negative effects on the high end audio business. Many manufacturers will not be able to weather the storm and will fail and the manufacturers who can survive are likely to be recast into a radically different form from what they are today.
So what manufacturers will not survive?
What manufacturers will survive but undergo major changes?
What will be the fate of "cost no object" statement products?
Will the used equipment market become a bargain hunters paradise?