If the economy is doing so bad why is it that?

Question

People are doing ridiculous lines to buy an I-Phone that is really expensive!?!? I constantly hear people say they are "broke" but yet shop every weekend drive around for no good reason and have all the latest gadgets. Someone please explain this to me why!?!? How are we supposed to show that the economy is doing bad that we need gas to go down! Price of food to go down! If when you turn on your T.V. go to the mall see people spending money. If we want gas to go down and prices of food I think we should just stop spending so much money and someone will get the point and start lowering the prices when they see there’s no business moving and people REALLY are broke then and only then I think prices of things will go down. But if we continue like this spending money like crazy I honestly don’t ever see prices going down! It’s a sacrifice we have to take a stand I guess so prices can go down! What do you think??

Answer 1

At a certain income level even with a bad economy there are people who can well afford the big TV's and gadgets. But they are going to complain just because it cuts into their free spending and because everyone else is complaining.

Many big stores are going out of business, catalog stores are too. The airlines are laying off 31,000 jobs the news said today.

Answer 2

Some people have real screwed up priorities and will buy a car worth more than the home they live in just for status. It does not mean all is well. You might need to look outside your bubble and maybe not be so general.

Answer 3

You are right on every point you make.  Makes me wonder if you've ever taken an econ college course?

Answer 4

alot of people spend with credit cards which is not there money.

Answer 5

Great point. I agree 100%.

Thanks for the points!

Answer 6

"But if we continue like this spending money like crazy I honestly don’t ever see prices going down!"

Quite the contrary.  The economy thrives when people spend their money.

You do bring up an interesting point though.  It's embedded in our culture to shop and buy new things.  People can and probably do complain about how expensive gas is, and then go spend a bunch of money on something unnecessary.