'American Morning' Gives the Super Bowl 'a Pass' for Consumers 'Feeling the Pinch'
It flies in the face of conventional wisdom â spending money on things that you canât afford, whether the economy is expanding, flat or contracting.
However, CNN âAmerican Morningâ didnât quite see it that way on January 30. The cable network mentioned retailers were working extra hard to get customers to buy things, but didnât have a problem with an unemployed woman buying a flat screen TV.
âVeronica McNeil has two kids,â said CNN correspondent Alina Cho. âShe recently lost her job. Her husbandâs an iron worker and the family is feeling the pinch.â
While McNeil was introduced as struggling financially, she then announced that for the right price sheâd buy an unnecessary high-ticket item.
âIf Iâm here to buy baby stuff and I see a TV at a good sale price, Iâll grab it,â McNeil said.
Cho pointed toward ârising gas and home heating oil prices and Americans losing their homesâ for money being âtight.â Unfortunately, Cho entirely missed the personal responsibility angle â if there is something you canât afford, donât buy it.
Cho also cited another shopper who complained "it seems like everything I buy is a little more expensive today than it was yesterday." Still, the man was willing to splurge on a "big TV for the Giants game" because he's a fan of the team.
âSo everybody agrees that weâre all feeling the pinch, but the Super Bowl gets a pass,â said Cho. âPlease excuse the pun.â
Wal-Mart (NYSE:WMT) recently announced it was cutting its prices by as much as 30 percent, as part of its effort to stimulate the economy. That included flat-screen televisions just in time for the Super Bowl as CNN reported.
âNow is when the customers need the savings,â Tracy Ferschweiler, a Wal-Mart store manager, said to âAmerican Morning.â âThis is a huge week for us â the Super Bowl and preparation. Itâs the eighth biggest sales week of the year.â