Nail salons will definitely go! Just look at what happened in Bloomfield Hills as a result of the auto industry layoffs. Upper-level executives cut back on spending. The wife of the local nursery store said the rich people were planting fewer annuals in the spring, so she had to cut back on her shopping, including getting her nails done. Several nail salons and hair dressers went out of business, and restaurants saw big sales declines. I can’t find the link now – it’s bookmarked on my other computer I think. When you can’t pay your mortgage, and you lost your job, you don’t go out to eat, you don’t buy coffee at Starbucks, you don’t get your nails done. Just imagine you lost your job today. You’d stop sending your kids to activities, drop the private school, sell the extra car, etc. People can be frugal when forced.