'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 canâ€™t afford, whether the economy is expanding, flat or contracting.
However, CNN â€śAmerican Morningâ€ť didnâ€™t quite see it that way on January 30. The cable network mentioned retailers were working extra hard to get customers to buy things, but didnâ€™t have a problem with an unemployed woman buying a flat screen TV.
â€śVeronica McNeil has two kids,â€ť said CNN correspondent Alina Cho. â€śShe recently lost her job. Her husbandâ€™s an iron worker and the family is feeling the pinch.â€ť
While McNeil was introduced as struggling financially, she then announced that for the right price sheâ€™d buy an unnecessary high-ticket item.
â€śIf Iâ€™m here to buy baby stuff and I see a TV at a good sale price, Iâ€™ll grab it,â€ť McNeil said.
Cho pointed toward â€śrising gas and home heating oil prices and Americans losing their homesâ€ť for money being â€śtight.â€ť Unfortunately, Cho entirely missed the personal responsibility angle â€“ if there is something you canâ€™t afford, donâ€™t 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.
â€śSo everybody agrees that weâ€™re all feeling the pinch, but the Super Bowl gets a pass,â€ť said Cho. â€śPlease excuse the pun.â€ť
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.
â€śNow is when the customers need the savings,â€ť Tracy Ferschweiler, a Wal-Mart store manager, said to â€śAmerican Morning.â€ť â€śThis is a huge week for us â€“ the Super Bowl and preparation. Itâ€™s the eighth biggest sales week of the year.â€ť