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Apple Sells One Million iPhones in Three Days

Jon, you can't be serious. The average person standing in line is borrowing every dime of that iPhone's price tag, increasing his/her debt load all the more. This is the same Average Joe that hasn't saved a dime of earnings since 2004, according to government data, and is upside down in home equity and/or mortgage debt, not to mention auto loans and $9000+ in credit card obligations. Do you not understand that the mounds of debt that the average American has amassed, due to a lack of control of their spending, has placed the American financial system on the verge of utter collapse? This economy's revenue has been driven by cheap money for the last 12+ years. The red lights are flashing, with the collapse in financial equities, that the situation has reversed. Rather than borrowing & increasing leverage, we are now in a de-leveraging process. With America's ability to borrow any more having now reached a fixed ceiling, the simple truth is that discretionary spending is on the decline and will be for many years. Apple's $170 stock price can't hold, you're a nincampoop if you think otherwise.

Apple Sells One Million iPhones in Three Days

You bullish Apple investors are hysterical! The U.S. financial system is in major upheaval, and you're buying a consumer-driven tech stock? You can't be serious.