Saturday, July 12, 2008

WE HAVE A WINNER

Yesterday I predicted that it would only be a matter of hours before some right-winger declared that Phil Gramm was correct about the robustness of the U.S. economy, based on the fact that the number of people who still have money for new iPhones is greater than zero (if America's disposable income hasn't disappeared completely, we can't possibly be in an economic downturn!).

And here we go, just as I predicted:

Whining about waiting in line

... let's do a little comparison of a mental recession with an economic depression.

Below is a photo (courtesy Yahoo!News) in which we see people queued up... waiting....

Now take a look at a photo (courtesy National Park Service) in which we see another group of people queued up... waiting....

The difference?

In the first photo, the people are waiting to buy the latest iPhone (circa 2008), while in the second photo, the people are waiting to be given something to eat (circa 1930s)....


Emphasis in the original (of course). Google also yields this, which I can't get to load but which reads in part,

Phil Gramm is Right. We are a Nation of

...Why is Apple projected to sell 40 MILLION iphones? Why is Facebook, Google and Myspace seeing record traffic and revenues? So much for a recession. Americans have tons of purchasing power, credit, and huge liquidity....


The right-wing pros should be leaping in any minute now.

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