Economic depression. 400 dollar PS3 = dead?

The key difference between then an now is all people are fed insured up to 100k. Saying people are just going to panic and take everything out of their savings accounts......no that's no going to happen. What could happen is the rich elite will start to take their money out or at least spread it around to make sure they are covered.

This is one reason why there has been a lot of talk raising the fed insured limit to 250k or 500k. If they were to do that your senario would ever happen.

darthogre

I'm not worried about being able to get my money. i'm worried about it being worth much when it's all done. the Fed is creating more money and lowering interest rates even more. they aren't worried about inflation right now so we're going to get screwed that way.

[QUOTE="Verge_6"]

Well, firstly, we're not really in the depression stage yet. Why, not one person has jumped to his death on Wall Street :P

If history is any indication, things that bring us joy and entertainment usually sell MORE during economic recessions. However, said objects of joy and entertainment didn't usually run $400, so it's up in the air. I see this economic downslide, if it remains at the level it is at currently, effecting Sony itself more than the consumers. However, should things gets worse...

Innovazero2000

we are about a spit away from a depression, with the stock market crashing...there has been a 2 trillion loss in 401k and savings. Foreclosures out the wazu, sales are down for companies which is leading to a 6+% in national unemployment and climbing. Then you have a bailout plan that most americans didn't want, and now because the US is the financial capitol of the world, other countries are starting to feel the credit crysis.

1) unemplyment rate held steady and did not climb last month

2) there was a similar stock market hit before and after 9/11. It essentially recovered in a year or two.

3) most americans don't know what they want. Bush didn't look like he knew what the bailout plan was going to do.....how would the average american be for or against something they don't understand at all?

It's hillarious....you have a bunch of people saying the great depression is upon us....give us money or else. People are looking at each other because it's not like everyone is unemployed (points to unemployment rate not moving) and aside from some losing their house they could not afford, everyone just has to adjust their spending habbits. That's where the confusing part comes in....someone is trying to convince us that we are all going to be unemployed and living in a cardboard box within a month if we don't get the money.....most can't understand why or what is going to cause this. We are just supposed to trust them lol

[QUOTE="POJO_MOFO"][QUOTE="Khansoul"]You're asking children on a videogame forum about economic impact? The vast majority in here have their videogame products bought for them. The reality is anyone making less than $150,000 a year is feeling the imapct in a large way. The XBOX 360 will destroy the PS3 this Christmas simply because of price. The Moms and Dads will see a videogame system whos name they recognize for less money than a Wii now. The Parents do not care about HDD's or HDMI cables they will see a $199.00 system and a copy of Gears of War 2 the kid has been asking for at a price that is easily digested. The reality is perhaps Microsoft has made a few mistakes but this one great move will change the very face of this console race come this Holiday.GARRYTH

I can tell neither of you are doing anything real complicated since you both missed this very easy point completely.

[QUOTE="Innovazero2000"][QUOTE="Verge_6"]

Well, firstly, we're not really in the depression stage yet. Why, not one person has jumped to his death on Wall Street :P

If history is any indication, things that bring us joy and entertainment usually sell MORE during economic recessions. However, said objects of joy and entertainment didn't usually run $400, so it's up in the air. I see this economic downslide, if it remains at the level it is at currently, effecting Sony itself more than the consumers. However, should things gets worse...

darthogre

we are about a spit away from a depression, with the stock market crashing...there has been a 2 trillion loss in 401k and savings. Foreclosures out the wazu, sales are down for companies which is leading to a 6+% in national unemployment and climbing. Then you have a bailout plan that most americans didn't want, and now because the US is the financial capitol of the world, other countries are starting to feel the credit crysis.

1) unemplyment rate held steady and did not climb last month

2) there was a similar stock market hit before and after 9/11. It essentially recovered in a year or two.

3) most americans don't know what they want. Bush didn't look like he knew what the bailout plan was going to do.....how would the average american be for or against something they don't understand at all?

It's hillarious....you have a bunch of people saying the great depression is upon us....give us money or else. People are looking at each other because it's not like everyone is unemployed (points to unemployment rate not moving) and aside from some losing their house they could not afford, everyone just has to adjust their spending habbits. That's where the confusing part comes in....someone is trying to convince us that we are all going to be unemployed and living in a cardboard box within a month if we don't get the money.....most can't understand why or what is going to cause this. We are just supposed to trust them lol

Again kids please stop with your limited naive understanding of economy and your made up facts!

PLEASE READ

[QUOTE="Verge_6"]

Well, firstly, we're not really in the depression stage yet. Why, not one person has jumped to his death on Wall Street :P

If history is any indication, things that bring us joy and entertainment usually sell MORE during economic recessions. However, said objects of joy and entertainment didn't usually run $400, so it's up in the air. I see this economic downslide, if it remains at the level it is at currently, effecting Sony itself more than the consumers. However, should things gets worse...

Innovazero2000

we are about a spit away from a depression, with the stock market crashing...there has been a 2 trillion loss in 401k and savings. Foreclosures out the wazu, sales are down for companies which is leading to a 6+% in national unemployment and climbing. Then you have a bailout plan that most americans didn't want, and now because the US is the financial capitol of the world, other countries are starting to feel the credit crysis.

So much more needs to occur before an economic depression hits. Really, the fear we are displaying is uncalled for. I'm not saying the recession should be ignored, not by any means, but the media is making everyone think that bread lines are going to start appearing this winter, and Hoovervilles will be establishing themselves left and right. We still have a ways to go before all that, folks.

[QUOTE="Innovazero2000"][QUOTE="Verge_6"]

Well, firstly, we're not really in the depression stage yet. Why, not one person has jumped to his death on Wall Street :P

If history is any indication, things that bring us joy and entertainment usually sell MORE during economic recessions. However, said objects of joy and entertainment didn't usually run $400, so it's up in the air. I see this economic downslide, if it remains at the level it is at currently, effecting Sony itself more than the consumers. However, should things gets worse...

Verge_6

we are about a spit away from a depression, with the stock market crashing...there has been a 2 trillion loss in 401k and savings. Foreclosures out the wazu, sales are down for companies which is leading to a 6+% in national unemployment and climbing. Then you have a bailout plan that most americans didn't want, and now because the US is the financial capitol of the world, other countries are starting to feel the credit crysis.

So much more needs to occur before an economic depression hits. Really, the fear we are displaying is uncalled for. I'm not saying the recession should be ignored, not by any means, but the media is making everyone think that bread lines are going to start appearing this winter, and Hoovervilles will be establishing themselves left and right. We still have a ways to go before all that, folks.

Exactly what they said before 1929.

1) unemplyment rate held steady and did not climb last month

2) there was a similar stock market hit before and after 9/11. It essentially recovered in a year or two.

3) most americans don't know what they want. Bush didn't look like he knew what the bailout plan was going to do.....how would the average american be for or against something they don't understand at all?

darthogre

1. it's at over 6% now and it's the 9th straight month of job loses in the economy

2. the cause of the post 9/11 market slump is not at all similar to this one.

3. I agree that most americans don't know what to do. sadly no one really knows what will work.

lol this is lemmings talking.

mom i want a ps 3 for x-mas sorry son the economy is bad i have to get you a 360 instead.

come-on now parents or adults that want one are not going to let the economy stand in there way to get what they want this holiday season. ps 3 does not = a car,boat,home ect. it is only 400 bucks.

GARRYTH

[QUOTE="Verge_6"][QUOTE="Innovazero2000"][QUOTE="Verge_6"]

Well, firstly, we're not really in the depression stage yet. Why, not one person has jumped to his death on Wall Street :P

If history is any indication, things that bring us joy and entertainment usually sell MORE during economic recessions. However, said objects of joy and entertainment didn't usually run $400, so it's up in the air. I see this economic downslide, if it remains at the level it is at currently, effecting Sony itself more than the consumers. However, should things gets worse...

Khansoul

we are about a spit away from a depression, with the stock market crashing...there has been a 2 trillion loss in 401k and savings. Foreclosures out the wazu, sales are down for companies which is leading to a 6+% in national unemployment and climbing. Then you have a bailout plan that most americans didn't want, and now because the US is the financial capitol of the world, other countries are starting to feel the credit crysis.

So much more needs to occur before an economic depression hits. Really, the fear we are displaying is uncalled for. I'm not saying the recession should be ignored, not by any means, but the media is making everyone think that bread lines are going to start appearing this winter, and Hoovervilles will be establishing themselves left and right. We still have a ways to go before all that, folks.

Exactly what they said before 1929.

I think I am going to have to request more clarrification that that.

http://www.gamespot.com/pages/forums/show_topics.php?board_id=314159273

Relax people. Recessions come and go.

[QUOTE="darthogre"]

The key difference between then an now is all people are fed insured up to 100k. Saying people are just going to panic and take everything out of their savings accounts......no that's no going to happen. What could happen is the rich elite will start to take their money out or at least spread it around to make sure they are covered.

This is one reason why there has been a lot of talk raising the fed insured limit to 250k or 500k. If they were to do that your senario would ever happen.

Ontain

I'm not worried about being able to get my money. i'm worried about it being worth much when it's all done. the Fed is creating more money and lowering interest rates even more. they aren't worried about inflation right now so we're going to get screwed that way.

Well that's a different issue all together. Inflation and the falling dollar has been happening for a while now. Not sure what can be done at this point......it seems everyone just ignored it until it was too late. What worries me is I'm hearing a lot more spending by the candiates and not a lot of cutting (which is probably the only way to help the dollar). I almost died when I heard McCain say he wanted to spend 300+ billion more for another bailout lol. Why do I always feel like I'm playing a game of monopoly when listening to these people......it's like the money isn't real and grows on trees.

Most likely Sony will need a bailout plan.

So much more needs to occur before an economic depression hits. Really, the fear we are displaying is uncalled for. I'm not saying the recession should be ignored, not by any means, but the media is making everyone think that bread lines are going to start appearing this winter, and Hoovervilles will be establishing themselves left and right. We still have a ways to go before all that, folks.

Verge_6

you realize that it was Paulson and Bernanke that started the fear by saying that we're only weeks away from economic collapse of the banking markets if that bill didn't pass. I don't blame the media.

[QUOTE="Ontain"][QUOTE="darthogre"]

The key difference between then an now is all people are fed insured up to 100k. Saying people are just going to panic and take everything out of their savings accounts......no that's no going to happen. What could happen is the rich elite will start to take their money out or at least spread it around to make sure they are covered.

This is one reason why there has been a lot of talk raising the fed insured limit to 250k or 500k. If they were to do that your senario would ever happen.

darthogre

I'm not worried about being able to get my money. i'm worried about it being worth much when it's all done. the Fed is creating more money and lowering interest rates even more. they aren't worried about inflation right now so we're going to get screwed that way.

Well that's a different issue all together. Inflation and the falling dollar has been happening for a while now. Not sure what can be done at this point......it seems everyone just ignored it until it was too late. What worries me is I'm hearing a lot more spending by the candiates and not a lot of cutting (which is probably the only way to help the dollar). I almost died when I heard McCain say he wanted to spend 300+ billion more for another bailout lol. Why do I always feel like I'm playing a game of monopoly when listening to these people......it's like the money isn't real and grows on trees.

The Federal Reserve is much like the old Dorito slogan " spend it we'll make more"

http://www.gamespot.com/pages/forums/show_topics.php?board_id=314159273

Relax people. Recessions come and go.

Puckhog04

this isn't a recession. this is a global credit collapse, which in turn is spurring fears of recession. this isn't even an example of a bear market as some people are trying to say it is.

this is unprecedented in our lives, and it is foolish to assume things will fully recover - just like it is foolish to expect things to fully and totally collapse.

things might recover in 5-10 years to what they were a year ago - but it's yet to be seen if this will happen. when credit freezes begin they in a sense lock the cogs in the machine - which in turn forces business closings, hinders liquidity (or halts) and sends ripples through all markets, even commodities. people are starting to say (based on hard evidence) that this crisis has forever stigmatized the credit market - and that people will not return to the credit market in the same numbers they did before. which is a good thing imo for people, but a terrible thing for a capitalist society.

so yeah - don't try to oversimplify this. and don't make any financial decisions based on what you think is a parallel in the past... because there isn't one. be patient. try to keep you money in non-stock related investments, bonds, etc. if you feel lucky and are young and have tons of money you could assume this will follow a bear pattern and invest tons in the battered market hoping to make money in 10 years when things have bounced back...

and to stay on topic - i think this will affect hardware purchases for home electronics, but it won't affect game purchases. this is based on data from previous recessions. people with systems still buy games because they are a form of escapism from the crap that surrounds us every day. hardware will be hit because despite games being a way to let loose - hardware is still very expensive and much more of a barrier than a 50$ game when it comes to emptying your pockets.

in other words MS made a very shrewd business decision that was likely based on their analysts foresight of an impending financial crisis ;) the price drop was one of the best timed drops ever.

[QUOTE="Verge_6"]

So much more needs to occur before an economic depression hits. Really, the fear we are displaying is uncalled for. I'm not saying the recession should be ignored, not by any means, but the media is making everyone think that bread lines are going to start appearing this winter, and Hoovervilles will be establishing themselves left and right. We still have a ways to go before all that, folks.

Ontain

you realize that it was Paulson and Bernanke that started the fear by saying that we're only weeks away from economic collapse of the banking markets if that bill didn't pass. I don't blame the media.

If they said that, then that's a rather awful oversimplification of things. :?

[QUOTE="Puckhog04"]

http://www.gamespot.com/pages/forums/show_topics.php?board_id=314159273

Relax people. Recessions come and go.

3picuri3

this isn't a recession. this is a global credit collapse, which in turn is spurring fears of recession. this isn't even an example of a bear market as some people are trying to say it is.

this is unprecedented in our lives, and it is foolish to assume things will fully recover - just like it is foolish to expect things to fully and totally collapse.

things might recover in 5-10 years to what they were a year ago - but it's yet to be seen if this will happen. when credit freezes begin they in a sense lock the cogs in the machine - which in turn forces business closings, hinders liquidity (or halts) and sends ripples through all markets, even commodities. people are starting to say (based on hard evidence) that this crisis has forever stigmatized the credit market - and that people will not return to the credit market in the same numbers they did before. which is a good thing imo for people, but a terrible thing for a capitalist society.

so yeah - don't try to oversimplify this. and don't make any financial decisions based on what you think is a parallel in the past... because there isn't one. be patient. try to keep you money in non-stock related investments, bonds, etc. if you feel lucky and are young and have tons of money you could assume this will follow a bear pattern and invest tons in the battered market hoping to make money in 10 years when things have bounced back...

Only time will tell. Until that time, keep your drama. I'm fully aware of what is going on but we're on a gaming forum. Go to a political website and talk about it. My college courses deal with this stuff all day (Poli Sci major) which means i'm not talking about it on a gaming forum. This is the wrong forum for it anyway. Go to Off-Topic. There has been little to no mention of the PS3 since the first page of this thread.

Again kids please stop with your limited naive understanding of economy and your made up facts!

PLEASE READ

Ontain

What part was made up exactly?

Technically speaking the unemployment rate did not change from the previous month (fact). The market did recover after the 9/11 collapse (fact). Most Americans did not and do not understand that bailout plan (obvious). Where or not you agree that we are in a depression, I fail to understand how that thinking is naive.....it's just stating facts.

What's funny is you link to the 777 point drop and then I can link you to the next day where it recovered more than half of those losses so I'm confused what your point is. I'm not saying this isn't a bad economic situation but I've yet to see "the depression" that everyone keeps mentioning. STock markets are dropping......unless you are retiring in the next year or two, how exactly is the common person hurt by this? Other than possibly losing their jobs (which is a big concern I admit).....I'm just looking for the smoking gun that says "here, see the great depression is upon us"

Only time will tell. Until that time, keep your drama. I'm fully aware of what is going on but we're on a gaming forum. Go to a political website and talk about it.

Puckhog04

no drama puckhog. it's called realism and 4 years of economic studies at the best university in Canada... and 10 years of real-life market research i've been a part of. you're the one being dramatic in your blatant oversimplification of what is happening. and why you would feel offended enough to get defensive about someone trying to explain things really makes me question your sincerity.

this is a public forum, and the title of the topic is referring the to the current economic situation. i'm trying to give some deeper insight in to what is happening to counter people like you saying this is just a recession that will come and go. if you knew what was going on and what was happening the last thing you'd say to people you have any respect for is 'relax people, recessions come and go'.

if you don't like it then move on to another thread. and why would i go to a political board to discuss economics?

and if you're telling the truth about your education and exposure to information related to what is going on then why would you say something like 'relax'?? may I ask what school you go to? and maybe who your economics professors are?

and i only bring up my education because you brought yours up through edits. i don't think you need to be schooled in economics to understand what is going on - it's not some elitist unaccessible system. there is plenty of information on the net and through your local libraries to inform yourself. education has nothing to do with this. that's part of the problem in america these days - people think you have to be educated to understand. couldn't be farther from the truth.

Most likely Sony will need a bailout plan.

ReverseCycology

i live in western canada, and the recession isnt affecting us at all really, were not dependent on the us and on topic it seems like the ps3 and 360 are selilng the same as they always have here, more people buying the 360 then ps3 but people still buying ps3'slinkin_guy109

heh, might want to take a look at the markets pal. it might not be rippling to you yet but Canada is feeling it. i've been watching the markets all day.

if you're a 20 year old gamer without stocks and 401k then of course you won't feel it for months, but food and other staples will soon get more expensive as it trickles down to you.

[QUOTE="linkin_guy109"]i live in western canada, and the recession isnt affecting us at all really, were not dependent on the us and on topic it seems like the ps3 and 360 are selilng the same as they always have here, more people buying the 360 then ps3 but people still buying ps3's3picuri3

heh, might want to take a look at the markets pal. it might not be rippling to you yet but Canada is feeling it. i've been watching the markets all day.

if you're a 20 year old gamer without stocks and 401k then of course you won't feel it for months, but food and other staples will soon get more expensive as it trickles down to you.

the only food here at the moment thats noticably more expensive then it was in the past was pasta, i do know that eastern canada at the moment is feeling it though definately

[QUOTE="3picuri3"]

[QUOTE="linkin_guy109"]i live in western canada, and the recession isnt affecting us at all really, were not dependent on the us and on topic it seems like the ps3 and 360 are selilng the same as they always have here, more people buying the 360 then ps3 but people still buying ps3'slinkin_guy109

heh, might want to take a look at the markets pal. it might not be rippling to you yet but Canada is feeling it. i've been watching the markets all day.

if you're a 20 year old gamer without stocks and 401k then of course you won't feel it for months, but food and other staples will soon get more expensive as it trickles down to you.

the only food here at the moment thats noticably more expensive then it was in the past was pasta, i do know that eastern canada at the moment is feeling it though definately

it'll go up more in the next few months, but yeah, i'm in toronto and noticing food going up a bit already. but i think that's more related to the cost of gas :)

It's more of a recession than a depression. Businessmen arent starving on the streets, we're just feeling the pinch a little more and have to be more careful with our money.

Besides, history has shown that the entertainment industry booms during times of economic struggle.

It's more of a recession than a depression. Businessmen arent starving on the streets, we're just feeling the pinch a little more and have to be more careful with our money.

Besides, history has shown that the entertainment industry booms during times of economic struggle.

Ninja-Hippo

that's some cautious optimism considering we're just getting in to this. lets see how this week pans out, if things continue to drop i'd argue against it.

you are right though about entertainment. but historically its the games that are untouched, not the systems. higher price point makes it a more bitter pill to swallow despite the desire to relish in escapism during tough times.

You're asking children on a videogame forum about economic impact? The vast majority in here have their videogame products bought for them. The reality is anyone making less than $150,000 a year is feeling the imapct in a large way. The XBOX 360 will destroy the PS3 this Christmas simply because of price. The Moms and Dads will see a videogame system whos name they recognize for less money than a Wii now. The Parents do not care about HDD's or HDMI cables they will see a $199.00 system and a copy of Gears of War 2 the kid has been asking for at a price that is easily digested. The reality is perhaps Microsoft has made a few mistakes but this one great move will change the very face of this console race come this Holiday.Khansoul

Mum and Dad will be picking up a Wii for their kid/kids because that is what the kids want, also Gears is for adults... (not saying you are wrong that kdis want it but parents need to take responsibility).

I expect the Wii and DS to sell stupid this xmas, and the 360 should do great but I can see the PS3 still selling nicely because kids have a way of guilt tripping you into buying them whatever they want at xmas even if you do have to sell a vital organ :?.

What's going on around here, the PS3 has been 399 for awhile now...the economy has been crap this whole year, nothing has changed...

Why the all of a sudden panic?

Most likely Sony will need a bailout plan.

ReverseCycology

pfft.

lemming ka talaga reverse.

bashing lang ang alam mong gawin.

[QUOTE="ReverseCycology"]

Most likely Sony will need a bailout plan.

joopyme

pfft.

lemming ka talaga reverse.

bashing lang ang alam mong gawin.

Jokes lang, bakla.

I think I'm going to suspend my campaign until Sony gets moving again.