Lower Profits Show We Have Stopped Buying Stuff
You know you are suffering a recession when you begin to see companies like Google, Intel and Ebay all losing jobs and suffering their worst figures ever.
These darlings of the internet age might have been expected to ride the credit crisis and recession pretty well. I was particularly surprised at Ebay not doing better since everyone is looking for bargains at this time. I wrote about finding bargains on eBay here. I don’t do anything with Ebay myself but I have heard grumbles from people who used to do a lot of selling on Ebay that they have changed a lot of things in recent months and that has made sellers less enthusiastic about eBay.
Nevertheless, when people are trying to save money you would expect them to use the websites that are well known for offering good value so this must surely be a sign that people have finally decided to stop buying stuff.
We have all been busy buying new gadgets, equipment and toys for several years now and even apart from the credit crunch it might be we had got to a point where we just didn’t need any more stuff.
With things as they are perhaps what we should be buying now is gold coins to store under the mattress.
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