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Reader Comments (Page 1 of 1)
Multi-format-mayhem @ Oct 29th 2008 8:21AM
It's just more BS from the paid optimists.
First of all it's true that home entertainment gets more use during a recession, obviously that's correct.
But self-evidently it's a case of people making more use of the home entertainment stuff they already have
(ie people making the most of what they already have).
The exception might be that a big TV might just gets more of a look in seeing as how people are addicted to the telly - but even there the reports are of sales down and production being cut
(EngadgetHD recently reported production is being slashed and every news outlet bar none is reporting consumer sales down & consumer confidence at a low).
The one glaring element absent from these analysts and their amazing projections is the basic fundamental reality underlying this particular (and one might say unique) recession.....
.....most people are already up to their necks in debt and the banks, in case you missed it, won't even lend to each other, nevermind heavily indebted private individuals whose one major asset - their house, if they have one - is depreciating in value very heavily.
The recent fall in the price of oil (which is completely based on the understanding that global economic activity is set to plummet) does nothing to alleviate the huge levels of private debt so many people are carrying cross the sc-called developed world.