This is more evidence that the average person is financially illeterate. The real reason the econmy is tanking is because somewhere over the past few decades the average consumer stopped viewing consumer goods affordability based on whether or not they had enough money in the bank to cover the purchase and started judging affordability based on whether or not someone would lend them the money or allow them to make payments. Every item that cost over $50 started having 'payment plans.' Prosperity over the past 10-20 years was funded on the backs of money that consumers never had, nor even had the capacity of obtaining. There has to be some delevering for households. No matter how warm and fuzzy a Prime Minister is in his messaging, Joe Blow can't buy that new TV because in a credit/economic crisis no one is going to lend him the money to buy it and he won't have the positive job prospects to be able to properly afford it. You can tell me it's sunny and 30 degrees today, but that doesn't change reality.
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