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Politics : Formerly About Advanced Micro Devices

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Brumar89

To: bentway who wrote (736172)	8/31/2013 2:10:17 AM
From: i-node	1 Recommendation Read Replies (1) of 1578501

>> I wasn't arguing that. Just that the POOR don't own Iphones. Obviously, the iPhone is the Cadillac of cell phones, but even so, 7% of them are owned in households earning less than 25K, and 21% in households earning less than 50K. That's HOUSEHOLD income. So, certainly SOME of the poor own iPhones. But forget the iPhone. Consider ALL smartphones (you do need some kind of data plan to get most of them). 52% are in households with incomes of 50K or less. The same concepts apply to both the iPhone and others -- they are innovations that created an entirely new market that wouldn't have happened without capital investment. Both are the result of the highest-end investors -- AAPL & GOOG. Few poor people own these stocks, and NO poor people own many shares of either. It is WEALTH that allows the creation of these items which are key drives of economic growth. In fact, without AAPL and GOOG and WMT, our economy might not be growing AT ALL. The argument that it is "spending" that grows the economy is a result of a failure to ask, "Why?" At the end of the day, there is no economic growth without investment and the resultant innovation.

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