The wine industry has been on a tear for two decades. Where once Napa wines were so second-rate they had to pay Orson Welles to try and gain credibility, the California landscape is now dotted with vineyards.
That may be coming to an end due to demographics; the same people drinking wine then are drinking it now, but they are 20 years older. The recession has not impacted the Boomer crowd much yet, older people who drink wine have IRAs, but the median age for them is now 66, and younger people are not taking it up as much. Costs are showing no signs of slowing down and everyone thinks wages should be higher - until their indulgences get more expensive.