Now we know where those 5.3 million IPODs Apple sold in one year alone went to! :o)


>Mark,
>
>>>Almost all of which are "luxury" or "nice-to-have" items not critical to living a good life. The only thing we are truly dependent on for our way of life is oil which is scary enough.
>
>You are also dependent on a huge trade deficit. IMHO your fellow Americans have come to regard a high standard of living as their birthright, with little concern for how it is achieved. IMHO few are willing to live in a smaller home or drive a smaller car or forego the latest TV or stereo or iPod or whatever, just so your nation can reduce its reliance on foreign trade. Even if they did, the resulting economic contraction would cause inventory backup in China and reduced their ability to purchase US bonds, which would drive up your interest rates.
>
>FWIW, while the US maintains a very high standard of living, IMHO (and depending what you care about) the standard of living is superior in parts of France and Switzerland, with the improvements over there progressing at a huge rate.