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Econoporn a thread to discuss economic factual media
Comments
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I agree with what you say kabayiri, however I also feel it is the rise in cheap and nasty products that don't last which is helping to drive the consumer led economy because ultimately it is a false economy and people actually end up spending more. Your quality versus quantity is a very good point.
Lets take Hotpoint as a prime example. Once a trusted British brand that made good quality, long lasting goods. However since being taken over by Indesit they now churn out cheap and nasty, poor quality goods that rarely last more than 2 years without some form of failure. They do still have some brand clout with many who are unaware that they are now cr&p. However I would think that if many people bought a modern Hotpoint appliance these days they are much less likely to buy another one.
The repair or replace decision now often very much goes down the replace route because it often isn't economically sensible to repair these cr&p goods.0 -
Did you know that hotpoint used to charge something like a £40 premium over other similar brands. Why could they justify this ? Their answer was that they spent more on store training assistance. Their argument was that the customer would get more from the product if the store person could demonstrate it's capability.
Negative sentiment to British product is one thing, but now it has unfortunately spread to the typical British worker. People on these very forums will be quite happy to push forward the idea that your average Polish immigrant works harder; is better educated; and is ultimately better value for money. A slippery slope in my view.0 -
More popular economic clutter from the bib:
'Money' episode 1 and 2
How the West Went Bust 1 and 2, Peston's own interpetation of the same message from Panorama.
Storyville, Inside job a bit leftist with some errors but not bad.Five exclamation marks the sure sign of an insane mind!!!!!
Terry Pratchett.0 -
... Just watch the Keiser report every week.
You will learn more about the economy and the corrupt, lying theives running it than any mainstream "doumentary" will ever tell you."The problem with quotes on the internet is that you never know whether they are genuine or not" -
Albert Einstein0 -
the Keiser report
.
I love that show.....
Absolutely the best comedy on TV.:rotfl:“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0
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