A Question Regarding The Great Recession

The “Great Recession” began December 2007. In June 2007, the iPhone debuted and sold for $499.00-$599.00. Every year since 2007, iPhone sales have been steadily increasing as the price has also increased. In 2016, there was a slight dip in sales, but nothing of any real consequence.

If the “Great Recession” was as bad as people make it out to be, why were people buying iPhones? Today, many say that the “Crash” is heading our way again. They say that it will be even more devastating than it was just 11 years ago.

The iPhone X debuted last year with a starting price of $999.00. This year the iPhone XS debuted and soon the iPhone XR will be available. The iPhone XS has a starting price of $999.00. The iPhone XR will have a starting price of $749.00.

So this is just a small sample. Many other goods and services have gone up in price as well. From automobiles to furniture and appliance delivery. Others have stayed about the same. The housing market still hasn’t fully recovered, then again, perhaps that market was artificially inflated.

Correlation is not related to causation. Then again, if the market is dependent on the majority using credit to purchase rather than cash, perhaps nothing is of any real value, since nothing is truly owned.

What actually caused the “Great Recession”? Have we learned anything from just 11 years ago?

I wonder how much “Ugly Christmas Sweaters” will be this year?

Politicians still ask for donations and their campaign staff works for free?

13 thoughts on “A Question Regarding The Great Recession

  1. Anonymous

    I read that during recession, the luxury market didn’t suffer at all, what suffered was the lower incomes. If you have answers to your questions, I would love to hear 🙂

  2. I know a few people who buy every new iPhone that comes out (every year?) and it just makes my skin crawl. I know a few people who cry “poor, pity me”, yet spend much more than necessary.
    It’s just a difference in lifestyles. There are things I won’t spend my money on, while others will go in debt for those things.

    The prevalence of credit card debt is frightening. Money is but an illusion.

    1. bottomlesscoffee007

      Yeah, I wasn’t trying to knock the iPhone. It just seems that too many spend without a thought. I recently got a new job, so now I have more income. I am still living the same though, I haven’t “improved” yet, because something in the back of my head tells me “don’t get too comfortable”. Jobs are not a right, here today gone tomorrow.

      I am bound and determined to live under my means. Pay off my debt as soon as possible and hopefully within a rather short amount of time, realize actual freedom. That if the bottom falls out, nothing will drastically change in my own life.

      I think too many live on the edge of success and total collapse. Any slight shift and everything comes crashing down.

      Your right Goldie, money is an illusion. Look at what happened with 401Ks not that long ago. Playing the market is like playing with your kids college fund in Vegas.

      Just because you’re approved for up to a certain amount, doesn’t mean you should take it.

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