BusinessWeek Bites My Premise re: The Consumer

BusinessWeek is usually a pretty good read and the content has improved greatly since its re-energization under Bloomberg‘s stewardship.

And I guess I’d be happier to see Devin Leonard‘s cover story about cash-strapped consumers buying expensive stuff if I hadn’t already written it myself.  Leonard writes about the dichotomy of consumers cutting back on shampoo purchases but buying Starbucks and Apple products.  His version is a good one, a bit more fleshed out than mine.

On June 13th I talked about “An iPad in Every Pot” both on TRB and at Forbes:

When I hear Steve Jobs come out and say that Apple has sold 2 million iPads since the launch less than 2 months ago, I am shocked.  When I then hear that these $400 non-necessities are selling at the rate of 1 every 3 seconds, I am blown away at how peculiar this recession feels.  How this could be occurring against the backdrop of near limitless unemployment – in which trillions of dollars have been spent to create less than half a million non-census jobs – is beyond comprehension to me.

17% underemployment…and the longest lines are outside the Apple Store.

And here’s “The New Abnormal” in today’s BusinessWeek:

Finally, Ronzio enlisted the help of a firm called You Walk Away and did exactly that from the remaining $319,000 on his condo mortgage. When the bank foreclosed, he says he felt an enormous sense of relief. He also had more cash. He and his fiancée took the kids to Disneyland. Ronzio, 31, gave himself a treat as well. “I bought myself an iPad,” he says.

Worth checking out the article, even if you did hear it here first.


The New Abnormal (BusinessWeek)

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here:

Please see disclosures here.

What's been said:

Discussions found on the web
  1. SATTA MATKA commented on Sep 14

    … [Trackback]

    […] Find More to that Topic: […]

  2. is bitcoin loophole safe? commented on Sep 29

    … [Trackback]

    […] Information on that Topic: […]

  3. commented on Oct 03

    … [Trackback]

    […] Info to that Topic: […]

  4. Intelligent Automation services commented on Nov 28

    … [Trackback]

    […] Read More on on that Topic: […]

  5. rbc canada online commented on Nov 28

    … [Trackback]

    […] Find More on to that Topic: […]

  6. enter tangerine commented on Jan 10

    … [Trackback]

    […] Find More on on that Topic: […]

  7. DevOps services commented on Jan 12

    … [Trackback]

    […] Information to that Topic: […]

  8. replica watches commented on Jan 14

    … [Trackback]

    […] Read More to that Topic: […]

  9. GE GDT545PGJBB manuals commented on Jan 20

    … [Trackback]

    […] There you will find 57028 additional Information on that Topic: […]