With the possible exception of Kim Kardashian, who has millions to blow on 72-day marriages, American women are putting off big-ticket investments like weddings, childbirth or homeownership because of the economy. Instead, they’re buying lipstick. Lots and lots of lipstick.
During the 2001 recession, Estée Lauder chairman emeritus Leonard Lauder conceived the “lipstick index” to describe the spike in cosmetic sales he witnessed during hard economic times. Today, Lipstick and nail polish sales are soaring through the roof even as women struggle to keep roofs over their heads. As of October of 2011, lipstick sales were up 14 percent annually and nail polish sales were up 54 percent.
The reason women are opting for lipstick over houses is not because women don’t know how to budget. It’s because socialist and unconstitutional public policies have ravaged our free market economy to the point where the only self-help item many American women can immediately afford is a tube of lipstick or a jar of nail polish.