Some elist asshole economist at JPMorgan Chase reminds unnapreciative Americans that the economy isn't so bad:
"People don’t often remember [the positives]," said Jim Glassman, senior U.S. economist at JPMorgan Chase. "The economy is not falling apart. It’s just stuck."Speaking of stuck I've got something postitve to stick up his elitist ass as the article tells us about all the good things in our rock solid robust economy:
The average price of a point-and-shoot digital camera has fallen $28 from a year ago, to $178, according to the NPD Group, a consumer tracking service.Alllllrighty then! My digital camera, with a little butter and garlic, simmered for 15 minutes, should be delicious! And really, I feel like a schmuck complaining about the cost of living when I can save a dollar a night on a hotel room I can't afford to get to.
The cost of LCD flat-panel TVs is also expected to drop $18 this year, to an average $848, while notebook computers are forecast to fall 9 percent, to $775, according to the Consumer Electronics Association.
Fun fucked fact: The prices of TV and cameras have to go down. When people are struggling to pay for food and fuel you can kiss electronics sales goodbye.
4 comments:
The problem with these people being allowed to comment on the economy is that it either never touched them as they grew up wealthy or since they have large salaries now, they have forgotten what it was like when they didn't.
It is like Maria Bartrimao of CNN saying that making $2oo-$250K is not rich. Well, maybe not in her circles, but considering the average househould income is still in the 40's then, uh, yeah, it looks wealthy to 90% of us in this country.
As long as the people making policy in this country are untouched by oil and food prices nothing will change.
I wholeheartedly agree with UL & marylou -- so many of these economists seem too often oriented towards the 'upper crust'. When you look at the basic must-haves in life -- food, clothing, transportation, & shelter -- only clothing is stable/cheaper than before, and that's normally because it's being made for peanuts by desperate workers overseas (a deal with the devil as we lose our entire textile industry). A low/moderate income person is proportionately affected in a significant manner by the increases in these. While the housing bubble has burst and homes are cheaper, too often it means that existing home owners lost BIG money (after paying taxes on high assessed values) -- and there's a lot more home owners than there are first-time buyers.
And so often these same economists who pooh-pooh the trials & tribulations of us 'pampered Americans' are the SAME ones who are strongly promoting the upper-tier tax cuts for people who (like Paris Hilton) don't even KNOW what a 'Wal-Mart' is!
Sooo, you have a good recipe for digital camera???
I saw a succinct phrase to describe the opposing price shifts, it also skews the benchmark rate of inflation down:
What you need is increasing by leaps and bounds, what you want is becoming cheaper.
Hey boss, can I has a 2% raise?
HELL NO!
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