Peter -
Agreed. But consider this. All prior downturns in golf have been for external resons. By that I mean economic crises or war.
This is the first downturn where there are no such externalities involved. People have the money. They are at home and not flying bombers or charging up beaches.
The decline in golf is happening, I think, for a whole stew of reasons. The decline in courses is just the dead canary in the mine. There are some pretty significant demographic and cultural changes going on.
Bob