Quote:
Originally Posted by AustinChief
And they are idiots.
In reality, it is either a SLIGHT positive(negligible) or more likely a NEGATIVE due to the fact that a large amount of that money goes to only two places. Apple's cash reserves and China.
The ONLY way it adds to the economy even slightly is if people are spending out of saving on the iPhone (and they weren't planning to buy a new phone anytime soon).. otherwise that money would have been spent regardless, and likely in a way where the money would be spread around and go back into more spending.
This is all based on one note from one guy who made huge assumptions and didn't look at the bigger picture. If you look online there are plenty of economists who have debunked this already. BUT that's not what people want to hear so it isn't as popular.
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I suppose that stock growth hasn't done anything for anyone over the past 10 years or so, right?