What kind of recession is this?

Just a short comment today on the US economy being in recession.

I am trying to figure out what kind of recession are we in that 1 million new iPhones sell in a weekend at prices from $199 to $499 and the ammunition factories are working around the clock to only sell every cartridge they make to insatiable US demand.

This reminds me of another supposed recession I witnessed as a kid. Everyone was crying about lack of jobs, cuts in salaries, etc but all the fancy restaurants in town had waiting lists.

I am not trying to take away from the pain of those who have lost their jobs in the last year or so, but I believe part of this recession is the fact that the housing bubble is gone and people are actually watching their unnecessary spending. This is not a 1929 style crash. I believe this is a direct result of the US economy being artificially propped by the spending of US consumer, from cars to gadgets to houses to Coach bags to ammunition.


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