Are most Americans really struggling financially?

July 15, 2008 at 10:32 am 5 comments

I’m not sure that’s the case as much as the media makes it out to be. Sure, there are a number of folks that are dealing with some hard times. But, I would argue that the majority are truly in dire straights. In fact, I think the media is making it seem worse than it really is. Either that, or Americans are being outright idiotic when it comes to money matters. And that may well be the case too. Maybe I’m right in both cases.

Here are some of the reasons I don’t think things are as bad as the media is saying.

iPhone 3G:
Apple iPhone 3GJust launched on Friday, July 11th and as of today, the new Apple gadget has sold out in 21 states. That’s more than one million units sold at a minimum $199, not including taxes and actual phone service.

Wall-E and Iron Man
Wall-EEven with gas prices souring, Disney Pixar’s Wall-E and Marvel’s Iron Man brought in $180,202,418 and $150,652,108 respectively in their opening weekends.

Grand Theft Auto IV
GTA 4This little blockbuster sold 3.1 million units on its first day and grossed more than $500 million in the first week.

Sources:
Fortune: Apple 2.0 iPhone 3G: Sold out in 21 states
Weekend Box Office
Reuter’s: Take-Two’s Grand Theft Auto 4 sales top $500 million

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Entry filed under: Money Fun, Soap Box. Tags: , , , , , , , .

Did you know that homeowners paid or will pay 580% interest in the first year of their 30 year mortgage? Baloney and the economy

5 Comments Add your own

  • 1. Randy  |  July 16, 2008 at 6:37 am

    I know a lot of people whom believe they are hurting. After paying their cable bill, cell phone bills, making several car payments, taking weekend trips every weekend at $4 a gallon, and eating out 20 times a month, they feel they are suffering needlessly, and that “someone” needs to do something about the economy.
    I also know people that have been unemployed for several years, no weight loss, still own and drive a car, still have cable and cell phones, and still living in a woodframe structure.
    I guess I’m confused as to what the word struggling really means.

    Reply
  • 2. Michigander  |  September 30, 2008 at 10:34 am

    Well, I have to disagree. I live in Michigan and it’s incredibly tough here. I have not received a raise in over 7 years – not even cost of living – and yet our expenses have gone through the roof. I can’t look for another job because Michigan has the highest unemployment rates in the country and no one is hiring. I can’t sell my house because Michigan foreclosure rates are out of control and people just aren’t buying. My gas and electric bills have almost tripled and food expenses are outrageous. We have already given up just about every little luxury you can imagine. We don’t even have cable TV any more. We do still have cable internet and cell phones but only because they are paid for by my employer. We never go out to eat (not even McDonald’s) and we even grew our own vegetables this year. Michigan has been in a recession (if not depression) for years and it’s killing us. I just wish those of you in other parts of the country could appreciate what we are going through here and show a little sympathy once in a while.

    Reply
  • 3. BuffaloTough  |  March 5, 2009 at 11:40 am

    Michigander, sorry to hear you’re in such dire straights, but I can tell you, Buffalo NY has been experiencing what you’ve described, for the last 20 years. And the only good thing I’ve noticed, is that we’re that well versed at having nothing, that this economic crisis isn’t as bad for us as a lot of other cities. Welcome to Buffalo – America!!

    Reply
  • […] Is this the right thing to do? Based on what I read here, here, here, here, here, here, here, and here, I strongly believe that the great disparity between blogger earnings and reader earnings only […]

    Reply
  • 5. money talk  |  January 5, 2012 at 2:33 am

    Thanks for sharing this post with us. It’s really an amazing post. Keep posting the good work in future too.

    Reply

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