With oil prices tickling new highs almost daily, food prices on the rise and housing values on the decline – what do we consumers do? We buy new phones and/or get some new video games.

Apple sold 1 million iPhone 3Gs in its first three days of availability. (to compare) Apple sold 1 million 1st-generation iPhones in 74 days….U.S. sales of video game hardware and software rose 53 percent in June from a year ago …“These numbers are mind bogglingly large,” said Michael Pachter, a Wedbush Morgan analyst.