How Bad Can The Economy Really Be?

July 15, 2008 · Filed Under ·  

I find myself just scratching my head in wonderment whenever I watch any financial news show these days. Americans are a walking contradiction. Here is my biggest head scratcher.

~ The New 3G Apple iPhone. The news is always talking about how horrible the economy is, yet in every major city in the U.S. last Friday, there were 200 people standing in line at the Apple Store to pay $400 for a phone. People lined up around the block to buy something nobody really needs. The United States has become a land of haves and have mores. On a side note, of all the pictures and video I saw of people standing in line to buy the phone, the majority appeared to be young men. I’d be curious how many buyers just put the phone on the credit card and worried about paying it off later.
Thoughts?

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Comments

6 Responses to “How Bad Can The Economy Really Be?”

  1. Jennifer on July 15th, 2008 6:05 pm

    I don’t think the economy is great, but I think it’s caused directly by congress, a few financial institutions, and the fact that we live in a debt based society. (Maybe the iphone actually is an indicator of the economy. I don’t know many people who can just decide to buy a new phone and buy it without charging it.)

    I think we will suddenly see some changes after the election, but with a lame duck pres, reps won’t be likely to vote for anything good until the new president can get credit for “saving” the economy.

  2. kristen on July 16th, 2008 12:44 pm

    I think many are in denial, many suffer from the immediate gratification disease, and some are just downright ignorant. But then, there are also many who regardless of the economy realize that it’s a great idea to save and buy wisely. I mean the “old” version of this phone just came out!

  3. Beth on July 16th, 2008 6:27 pm

    I really do feel we would be in a depression, if people did not have credit cards.

  4. Christina @ Northern Cheapskate on July 16th, 2008 8:56 pm

    You’re post made me laugh out loud. Never underestimate the power of stupid people in a large group! The question here is: who are the stupid people? The media for constantly painting the sky is falling picture? Or the idiots standing in line waiting for a freakin’ phone? Tough call.

  5. Christina @ Northern Cheapskate on July 16th, 2008 8:58 pm

    oops! Stupid me! Your not Your’e… yikes.. guess I shouldn’t be calling names!

  6. Zombie Money on July 26th, 2008 12:13 am

    The Iphone is tempting but my current sprint phone bill is only $39 a month and there is no way the Iphone bill would come close to that. Will use that money for savings instead :)

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