Its surreal as 1 in 8 on food stamps but people fighting for iphones

Discussion in 'Economics' started by piggie2000, Jan 4, 2010.

  1. the biggest news of today and every day is not that bankruptcies up 32% today for the 3rd qtr or that a record 1 in 8 people using food stamps but its wether google or apple will have there news conference to come out with a stupid new phone or tablet when every company on earth has one. in the meantime stks march ever higher as the hype everywere is deafening. sometime soon something out of left field will rock the mkt so it reflects reality
  2. The iPhone comes with a Food app.
  3. Well, I guess the 7/8 with jobs or savings need a new phone. 1/8 = ~ 12% which is close to the released unemployment rate.
  4. didn't u hear ? the economy's doing better, it's ok to buy that Iphone.
  5. It's all about education/skills.

    This is a bit of simplification, but the chunk on food stamps are less productive than the Indians/Chinese so there's no jobs for them even at minimum wage (though if the Yuan was where it should be this would be less of a problem.) They are unfortunately essentially a commodity until they get better skills which in many cases isn't going to happen.

    Don't let your kids be mediocre in school and make sure they get real skills.
  6. jem


    Great observation.

    Globalization is bound to bring down our standard of living in nominal terms for sure. And without great technological advances likely to bring it down in real terms as well. To cope with it we are going to have to make choices as a nation. It seems the spending and taxation choices are going to leave a small wealthy class and a larger and larger heavily taxed working class. We are watching an Indiafication of the western economies caused by government policies.

    In California we are watching more and more people trying to squeeze into the good zip codes with the good schools. It is a concern that when the governments have to adjust to the reality of a smaller tax base the choices are going to be radical. I don't think we have the stomach to face the reality that people have to work for a living and most of that time the work will earn less in real terms. hence oppressive government spending strangling the middle class's future for short term promises.
  7. err you know there is no volume in this mkt?
  8. Does The Government give cell phones to people that receive welfare benefits?
  9. 'Avatar' soars into $1-billion territory
    Los Angeles Times - ý4 hours agoý
    Strong foreign ticket sales help make the science-fiction movie the fifth in history to pass the watermark. An "Avatar" media event is held in Beijing with Jim Gianopulos, CEO of Fox Filmed Entertainment, left, director James Cameron and producer Jon ...
    'Avatar' No. 4 movie at all-time box office in 17 days Chicago Tribune
    Box Office 2009: A Very Good Year TIME

    I am puzzled by this report. I recall reading about a recession. Apparently people can afford to go to the movies.
  10. Why are you puzzled? It is simple economics. During this phase of the wealth-out effect imposed on the West by the East, going to movies is less expensive than going for a weekend to London, for example. If things get worse, the box office will also get a hit down the road. But the rise in movie revenues is a sign of a bad economy under the circumstances, contrary to what someone would think.
    #10     Jan 5, 2010