Comments on: How we got into this mess http://thetradingdigest.com/blog/2008/07/12/how-we-got-into-this-mess/ Wed, 03 Dec 2008 01:20:46 +0000 http://wordpress.org/?v=2.6.3 By: Bookmarks about Mess http://thetradingdigest.com/blog/2008/07/12/how-we-got-into-this-mess/#comment-15901 Bookmarks about Mess Sat, 09 Aug 2008 23:46:26 +0000 http://thetradingdigest.com/blog/?p=547#comment-15901 [...] - bookmarked by 4 members originally found by bloomsberries on 2008-07-18 How we got into this mess http://thetradingdigest.com/blog/2008/07/12/how-we-got-into-this-mess/ - bookmarked by 4 members [...] [...] - bookmarked by 4 members originally found by bloomsberries on 2008-07-18 How we got into this mess http://thetradingdigest.com/blog/2008/07/12/how-we-got-into-this-mess/ - bookmarked by 4 members [...]

]]> By: John http://thetradingdigest.com/blog/2008/07/12/how-we-got-into-this-mess/#comment-14910 John Sun, 13 Jul 2008 14:59:21 +0000 http://thetradingdigest.com/blog/?p=547#comment-14910 My point was how the consumer mindset illustrated by the iPhone line is prevalent up and down the economic scale. This mindset has played a large part in the recent economic boom as consumer spending has increased to an ever greater part of GDP. But this spending has come at a cost, which is "declining consumer savings rates or increasing consumer debt load". My point was how the consumer mindset illustrated by the iPhone line is prevalent up and down the economic scale. This mindset has played a large part in the recent economic boom as consumer spending has increased to an ever greater part of GDP. But this spending has come at a cost, which is “declining consumer savings rates or increasing consumer debt load”.

]]> By: Damian http://thetradingdigest.com/blog/2008/07/12/how-we-got-into-this-mess/#comment-14908 Damian Sun, 13 Jul 2008 13:20:43 +0000 http://thetradingdigest.com/blog/?p=547#comment-14908 What's your point then? I was merely commenting on that you were making a connection between the economy and the purchase of iPhones - you seem to be making the argument, indirectly, that the notion of a struggling consumer is a media creation and using the iPhone line as an example. It's not a good example - go to Detroit and see a more representative sample of average Americans. I think we both agree it's a useless activity, and is another great example of economic actors acting irrationally on the basis of a status item. What’s your point then? I was merely commenting on that you were making a connection between the economy and the purchase of iPhones - you seem to be making the argument, indirectly, that the notion of a struggling consumer is a media creation and using the iPhone line as an example. It’s not a good example - go to Detroit and see a more representative sample of average Americans.

I think we both agree it’s a useless activity, and is another great example of economic actors acting irrationally on the basis of a status item.

]]> By: John http://thetradingdigest.com/blog/2008/07/12/how-we-got-into-this-mess/#comment-14888 John Sun, 13 Jul 2008 03:48:44 +0000 http://thetradingdigest.com/blog/?p=547#comment-14888 I'm all fine w/ people buying iPhones, but waiting hours in line when you can probably stroll into the store next week w/ 0 wait is just idiotic. Also, don't forget that just because they may have high incomes does not make them wealthy. - John I’m all fine w/ people buying iPhones, but waiting hours in line when you can probably stroll into the store next week w/ 0 wait is just idiotic. Also, don’t forget that just because they may have high incomes does not make them wealthy.

- John

]]> By: Damian http://thetradingdigest.com/blog/2008/07/12/how-we-got-into-this-mess/#comment-14873 Damian Sat, 12 Jul 2008 17:44:06 +0000 http://thetradingdigest.com/blog/?p=547#comment-14873 Sent too quickly - which means to say: you can't judge the state of the economy based on what these people are doing. Sent too quickly - which means to say: you can’t judge the state of the economy based on what these people are doing.

]]> By: Damian http://thetradingdigest.com/blog/2008/07/12/how-we-got-into-this-mess/#comment-14868 Damian Sat, 12 Jul 2008 17:14:29 +0000 http://thetradingdigest.com/blog/?p=547#comment-14868 People that buy iphones are wealthy or have high-disposable incomes - therefore it is not shocking to see the affluent waste time and money on a meaningless consumer item that conveys status. For more details on the background of iPhone buyers: http://www.techcrunch.com/2008/07/11/nielsen-iphone-in-fourth-place-among-smartphones-first-in-customer-satisfaction-not-for-long/ People that buy iphones are wealthy or have high-disposable incomes - therefore it is not shocking to see the affluent waste time and money on a meaningless consumer item that conveys status.

For more details on the background of iPhone buyers:

http://www.techcrunch.com/2008/07/11/nielsen-iphone-in-fourth-place-among-smartphones-first-in-customer-satisfaction-not-for-long/

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