Does America Have A Drinking Problem?

Monkeys, I was just lazing around this evening with a beer in one hand and my mobile in another and suddenly this article from Bloomberg crops up in my feed. It says that Americans are drinking more than they used to and went on to predict that this could cause some dire implications for the country’s future health-care costs.


The number of adults who binge drink at least once a week could be as high as 30 million, greater than the population of every state save California, according to a study published on Wednesday in JAMA Psychiatry. A similar number reported alcohol abuse or dependency.

Apparently, excess drinking caused double the number of deaths than prescription opioids and heroin last year and the estimated cost of excessive alcohol consumption was almost $250 billion a year in the U.S.

Needless to say, my half-finished bottle of beer went to the trash can not long after it got me thinking. Does America Have A Drinking Problem?

 
MonkeyBot:
The National Institute of Alcohol Abuse and Alcoholism defines binge drinking as 5 drinks in 2 hours which I consider a warmup.

@DickFuld want to chime in?

https://www.niaaa.nih.gov/alcohol-health/overview-...

Doctors have a strange and twisted view of what constitutes being an alcoholic. They set a very low bar that most people in finance are higher than when it comes to boozing.
 
George_Banker:
This is also because sugar taxes make soda and other bad drinks more expensive than alcohol. Economics.

He said americans are drinking too much, and you say sugar tax makes drinks more expensive than alcohol.

If the drinks were so expensive, people wouldn't drink them as much, but they are drinking in excess. So your words actually mean nothing.

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

You need to hash this out further for me because right now I just think you are an idiot. Think about why you just said my words mean nothing: "drinks are expensive so people wouldn't drink them as much." That is economics, as I pointed out. But the economics here are that people drink when they are thirsty, and since cash resources are scarce, the rational decision is to purchase the cheaper beverage, in this case beer or liquor, rather than the expensive and heavily taxed soda or other flavored beverage.

IF you have limited amounts of money, a rational human buys the best value. IF a coke is twice as much as a beer, you can have two beers for one coke. Excess drinking here is like 4-5 beers a day, so two cokes worth.

This is the same concept that people hit Coke for in third world countries, where their sugary drink is cheaper than clean water, which creates all kinds of health problems. Right now, the incentive is just for alcohol in a developed country, which is also creating all kinds of health problems.

If you look at the article, it shows that more lower class people have increased binge drinking habits since the early 2000s. These are people who are likely on a tighter budget and more likely to watch their spending habits, which means that if they can save a dollar or two they will.

 

It's not that it is dollar for dollar more expensive but rather entertainment value per dollar more expensive. If you get X dollar per beer value and you get X-2 value per coke value. If you raise the cost of coke .2X it might tip the scale of value.

Follow the shit your fellow monkeys say @shitWSOsays Life is hard, it's even harder when you're stupid - John Wayne
 

people think they're binge drinkers if they have 6 beers on a friday night at a yuppie bar... posers

heister: Look at all these wannabe richies hating on an expensive salad. https://arthuxtable.com/
 
Best Response

Hidden and casual alcoholism is dangerous, especially over longer periods of time. Certain types of alcohol has been romanticized in media, social networks, etc. Wine is a huge one.

If you drink a bottle of wine every day, all year round, you're putting yourself in serious danger. Sure, you may not feel like an alcoholic, and people will probably not see you as one, but your liver will take a beating. Do that for 10-20 year, and before you know it, you have cirrhosis. Same with taking a drink or two during lunch, or after work.

When people think about the classic alcoholic, they see some crippling alcoholic chugging booze in the morning, and sipping on something throughout the day. They don't think about the professional people getting a buzz every evening, or the young people that get smashed 3-4 days a week.

If you have a problem with stopping, then you're probably an alcoholic. Physically, I can agree with the number of drinks : alcoholism correlation. But mentally, it's different. Some people can get hammered once a week, but have absolutely no desire afterwards. Others can't stop.

 
PeterMBA2018:
FinDroid:
Needless to say, my half-finished bottle of beer went to the trash can
Why would you do this

he calls his girlfriend 'the trash can'

its odd, I know

she must have been thirsty

"If you always put limits on everything you do, physical or anything else, it will spread into your work and into your life. There are no limits. There are only plateaus, and you must not stay there, you must go beyond them." - Bruce Lee
 

I prefer to judge alcoholics by those who cannot stop. Using that as a metric the number goes down substantially. I have had a few booze hound friends that legitimately had to go to rehab due to the inability to stop because of physical need (one could not digest food without severe pain unless he had a drink, sometimes had issues keeping it down). My friends that have a few every couple nights or every weekend do not have a problem. They can go long stretches with out drinking and have not had any run ins with the law from drinking. They like to let loose. Over the long haul it may take its toll, but not like a true alcoholic. I would guess that the number would be fewer than 5 million if it was brought to a level that was a bit more reasonable than someone who goes out in Saturday.

Only two sources I trust, Glenn Beck and singing woodland creatures.
 

Yawn. Rather than examine/eliminate all my poor life choices, I prefer to speculate about which will kill me first -- makes for a much more interesting (and equally useless) exercise.

Life's is a tale told by an idiot, full of sound and fury, signifying nothing.
 

Not sure if this is accurate. Granted I really didn't look up anything. But a DEA agent came to our work to talk about drugs (safety/wellness presentation), this was in 2014. At that time he said that prescription drugs killed more than, heroin, cocaine, alcohol combined.

It has been my experience that American's actually don't drink as much alcohol as in other parts of the world. i.e. Japan, south america, europe, russia, Depends how you slice it. Single binge drinking events...American's may be worse. But consistent drinking I would say American's are average.

 

The problem with America is that no one knows how to drink... You get kids walking in to new student orientation having barely drank more than a beer and all of sudden they're chugging jungle juice, which is particularly bad when you don't know how to drink since the sugar hides the alcohol. European countries don't really have this country because kids are much more used to drinking at a younger age (legal age is 16 in Belgium and Austria for example).

 

Id magnam aliquam est rerum. Consectetur debitis magnam sequi inventore in. Ipsa deserunt quos qui. Enim vitae animi sapiente est dolores reiciendis. Possimus dolores doloribus quo officia deleniti veritatis. Quo maxime nihil est molestiae enim.

Iure enim dolorem consectetur quia aut quia blanditiis. Quam et dolorum atque asperiores voluptas. Accusantium delectus nulla aspernatur sint et cumque. Dolores itaque voluptatem nihil. Natus libero provident odio. Repudiandae eveniet magni enim incidunt quis repellat asperiores.

Career Advancement Opportunities

May 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Lazard Freres No 98.8%
  • Goldman Sachs 18 98.3%
  • Harris Williams & Co. New 97.7%
  • JPMorgan Chase 04 97.1%

Overall Employee Satisfaction

May 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

May 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

May 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (20) $385
  • Associates (90) $259
  • 3rd+ Year Analyst (14) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (67) $168
  • 1st Year Analyst (205) $159
  • Intern/Summer Analyst (146) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
GameTheory's picture
GameTheory
98.9
6
CompBanker's picture
CompBanker
98.9
7
kanon's picture
kanon
98.9
8
dosk17's picture
dosk17
98.9
9
DrApeman's picture
DrApeman
98.8
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”