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And like Katrina.. people were using their money for crappy material things when the money was to rebuild their life.
Some dude would rather have a nice watch than use it for the down payment on a new apartment.
Companies are also out sourcing, those are jobs Americans could have. Then more Americans would have more money, and then they'dactually have spare cash to spend, the companies would probably gain more money then. But, they'd have to pay Americans more, because they pay the people in India or w/e lower than the American minimum wage. But to develop and advertise these new gadgets and products, such as the iphone, that requires a lot of money. So they don't bother...
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