Randy Cassingham
The original headline is revealed by the URL: “How Device Hoarding by Americans Is Costing the Economy”. Got that? DEVICE HOARDING. It’s official: CNBC is completely out of touch with how the billionaires are hoarding all the money (aka, “Costing the Economy”!), leaving ordinary folks struggling to buy food, let alone a new $1100+ iPhone every year.
Nov 27 at 2:01amPubler
Show threadDisinfo Dad5d ago

@ThisIsTrue Business / tech news continuing to advance the narrative cycle for their ultra wealthy ownership & executives

Next it'll be "smart phone users are down-low downloading" ... vital coverage re: people causing a shortage of app downloads and how it's harming the economy

Show threadCanela Blanca5d ago
@ThisIsTrue It’s my fault. I’m going to have my second battery changed in my current phone rather than purchase a new phone.
Show threadEntangledPear5d ago
@christopherbrown @ThisIsTrue You monster!
Show threadJackie Jude5d ago

@ThisIsTrue the article is bonkers and has lines like

"While squeezing as much life out of your device as possible may save money in the short run, especially amid widespread fears about the strength of the consumer and job market, it might cost the economy in the long run"

oh I'm sorry am *I* the economy?

https://www.cnbc.com/2025/11/23/how-device-hoarding-by-americans-is-costing-economy.html

Show thread�5d ago
@ThisIsTrue there should be more phone repair shops and shops to buy used stuff.
Show threadRobert Banz5d ago
@ThisIsTrue well, “I’m doing my part”
Show threadMiss Warcraft5d ago
@ThisIsTrue Dude. I am trying to pay off my Credit Card.
Show threadGhostOnTheHalfShell5d ago

@ThisIsTrue

Something something price point something something.

An iPhone used to hit a price point of what 300 or $500?

They just keep pushing the price up now to the cost of a small laptop.

What I wanted this stage out of phone is the phone service a passable camera in ability to read email and browse the web. That’s it.

fuck the rest.

Show threadGrumble 🇺🇸 🇺🇦5d ago
@ThisIsTrue CNBC circa 1790: "Consumers rejecting cake-based diet are ruining France's baking economy"
Show threadThe Eraticator5d ago
@ThisIsTrue - Planet Money, "while consumer sentiment is down, spending remains strong". Federal Reserve has access to data about credit cards and it covers about 80% of all cc balances in the economy. Data shows people are spending in the retail space with the wealthiest 20% being responsible for over half of the credit card spending in a given month. May 2025 ~$300 billion in cc charges. $175 billion is from the upper crust who are keeping the economy going, so hoard away! The rich will pay!
Show threadNini5d ago
@ThisIsTrue "The economy" has solely become about the valuations of the stock market and the holdings of the rich.
Show threadThomas Traynor5d ago
@ThisIsTrue why should I buy the "greatest", shiny new toy when what we have works well and does what we need it to do? I will put my money into house upgrades, food, clothes to replace worn out items and other necessities.