Durban Capital: Over 60% of ALL growth in consumer spending went to Apple this year

  • Posted: 18 December 2010 09:24 PM

    The claim is in this link here by Shulman, quoting Durban Capital.  You may dig this up on CNBC

    http://seekingalpha.com/article/242470-2011-the-year-of-trading-dangerously?source=email_watchlist

    Quote:

    What About Recent Increases in Consumer Spending?

    What increases? According to a fascinating analysis by Durban Capital, more than 60% of the growth in consumer spending this year went to one company ? Apple (AAPL). No kidding, check out the interview on CNBC.

    The government is funny about creating numbers and considers healthcare spending as ?consumer spending.? Again, no kidding.

    Take out Apple and healthcare and you really have no increase in consumer spending ? maybe a decrease.

         
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    Posted: 18 December 2010 10:39 PM #1

    60 %  !!!!!!!!!!!!!!!!!!!!!!!!!!

         
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    Posted: 18 December 2010 10:44 PM #2

    And since 70% of US GDP is consumer spending (a big reason reason we are doomed), Apple is responsible for 42% of our GDP growth? Seems hard to believe.

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    Posted: 18 December 2010 11:08 PM #3

    JDSoCal - 19 December 2010 02:44 AM

    And since 70% of US GDP is consumer spending (a big reason reason we are doomed), Apple is responsible for 42% of our GDP growth? Seems hard to believe.

     

    That’s not even close to right. Things have gotten askew here. rolleyes

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    Posted: 19 December 2010 01:55 AM #4

    adamthompson3232 - 19 December 2010 02:04 AM
    Mike in Helsinki - 19 December 2010 01:24 AM

    The claim is in this link here by Shulman, quoting Durban Capital.  You may dig this up on CNBC

    http://seekingalpha.com/article/242470-2011-the-year-of-trading-dangerously?source=email_watchlist

    Quote:

    What About Recent Increases in Consumer Spending?

    What increases? According to a fascinating analysis by Durban Capital, more than 60% of the growth in consumer spending this year went to one company ? Apple (AAPL). No kidding, check out the interview on CNBC.

    The government is funny about creating numbers and considers healthcare spending as ?consumer spending.? Again, no kidding.

    Take out Apple and healthcare and you really have no increase in consumer spending ? maybe a decrease.

    I would pay to see this study. Anyone have more info on it?

    How much do I get?

    Starts around the 6:15 mark:
    http://finance.yahoo.com/video/cnbc-22844419/retail-stock-watch-23184595


    55%, not 60% is what he said.

         
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    Posted: 19 December 2010 02:04 AM #5

    mbeauch - 19 December 2010 03:08 AM
    JDSoCal - 19 December 2010 02:44 AM

    And since 70% of US GDP is consumer spending (a big reason reason we are doomed), Apple is responsible for 42% of our GDP growth? Seems hard to believe.

    That’s not even close to right. Things have gotten askew here. rolleyes

    Well, you’re welcome to post facts and figures with links as sources in lieu of blanket statements and emoticons. rolleyes I’m just going with the author’s assumptions, since we don’t have full access to the article.

    The reality is, 70% of the GDP calculation is PCE (personal consumption expenditures), and yes, it includes health care, including Medicare. So some of it is stolen from paychecks and filtered through the government bureaucracy, instead of point-of-sale. The government’s methodology, not mine.

    But I’m against counting such things as GDP, not for it, so don’t shoot the messenger. Our GDP should be based on production, not consumption.

    One interesting thing I did read recently is that the iPhone unfairly credits the Chinese economy instead of ours.

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  • Posted: 19 December 2010 04:11 AM #6

    The video concerns retail sales, not overall consumer spending. Further, I’d like to see a breakdown of how the firm determined Apple’s domestic retail sales versus international sales.