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What a strange economy!

September 18th, 2012 at 11:39 pm

Perusing the paper today, there were two stories next to each other on the same page. One was outlining how so many more folks are having to use the local foodbanks because they can't make their money stretch after paying bills and then how many folks ordered the new iPhone and what a record it was.

Wow...some folks are spending big bucks on technology while others are struggling to eat. Wonder what's in between?

Posted in Personal Finance | 9 Comments »

9 Responses to “What a strange economy!”

  1. snafu Says:
    September 19th, 2012 at 12:45 am 1348015522
    1348015522

    I suspect folks using the food bank are unemployed but still owe on credit cards, line of credit, car loans etc. that link back to moneyed days when buying on credit permitted dinners out, new appliances and impulse buying.

    So many jobs are gone forever and so many jobs available need skills, education and experience that is lacking. The immigrants are still doing the jobs that middle class just won't do. Middle class workers just won't believe they are one month from the food bank should things go awry. What I was wondering...if you get a new Apple 5, does that re-set your phone contract for another 3 yrs?

  2. Monkey Mama Says:
    September 19th, 2012 at 01:10 am 1348017049
    1348017049

    The thing I see is people paying the big bucks (on technology) *while* struggling to eat. 100% serious!!

    I could go on and on and on... Rolleyes

  3. FrugalTexan75 Says:
    September 19th, 2012 at 01:55 am 1348019729
    1348019729

    Snafu -

    If you get the new iPhone5 it resets your contract for two years, although you can be eligible for upgrade in 20 months.

  4. LuckyRobin Says:
    September 19th, 2012 at 04:41 am 1348029715
    1348029715

    What's in between are people that work very hard to budget their necessities well so that they can save up enough for some luxuries and who try their best to give a little to those who need it. At least I hope so. That's what we are, anyway.

  5. Momma and the boys living on budget Says:
    September 19th, 2012 at 08:59 am 1348045157
    1348045157

    it is about priorities and wanting what they want. I am sure that many of these iphone 5 are being put on credit cards.

  6. MonkeyMama Says:
    September 19th, 2012 at 07:28 pm 1348082937
    1348082937

    I had to walk away earlier, because I felt a rant coming on! Big Grin
    I think the last commenter nails it on the head though. Easy credit makes for extremely strange economics. "Poverty" today looks VERY different than it did several decades ago. I don't know how it will all shake out in the end. I don't think that easy credit is a good thing. Maybe it is from the standpoint of keeping food on the table. But other than that, it leads to denial denial denial. Then bankruptcy and start over again. I just don't see any accountability. I am thankful for social security for maybe keeping all my peers off the streets at retirement age. I don't know if it will be enough. I've watched several people ask for handouts while driving luxury vehicles. I've watched several people foreclose on their homes and then go out and buy bigger and more expensive homes. None of it makes any sense. But that's what credit allows.

  7. Momma and the boys living on budget Says:
    September 22nd, 2012 at 11:24 am 1348313086
    1348313086

    It is all about priorities even with the little things. My husband runs a cub scout den and there is a single mom. I know she is struggling and her ex doesn't help her. She is always complaining about money, not having any. I see this woman 3- 4 times a week due to dropping off kids at school etc and she always has a an extra large dunkin donuts ice coffee that cost $3.00 a piece. Last night she asked my husband if her son could get a scholarship this year to cub scout since she didn't have the $50.00 sign up fee -she is so stretched thin. I wanted to say MAKE your coffee at home and add in some ice cubs and you would have your $50 in less than a month. Vent over

  8. Wino Says:
    September 23rd, 2012 at 02:42 am 1348368124
    1348368124

    I will bet you a dime to a doughnut that the people going to the foodbank have an iPhone4S or iPhone5, or equivalent Android phone, while getting the largesse.

    I have noticed that nowadays, people seem to believe they are entitled to the necessities, and their "own money" gets to be used for luxuries. The rest of us who are paying for the necessities are getting fed up with providing for the ungrateful deadbeats. A change is coming because this situation cannot be sustained.

  9. rob62521 Says:
    September 24th, 2012 at 12:27 am 1348446457
    1348446457

    On the news Friday night the reporter was talking about the housing market and how much more difficult it is to get a mortgage and how that hurts potential homeowners. As I screamed at the T.V. that was one of the reasons we have problems because folks got mortgages who shouldn't have and now we have all these foreclosures. Grrr!

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