The economy is still on thin ice, says Alan Greenspan. The American workers’ paycheck is shrinking, says Time magazine. And personal bankruptcies are breaking records, says the government.
So who’s paying $8,000 for those popular flat-screen television sets? Why are teenagers wearing $150 tennis shoes? And when did middle America get so blase about spending 65 bucks on a haircut?
Yes, there are dollar stores, and thank goodness for Target. But prices for so many everyday items–from movie popcorn to cable TV–seem to be getting ridiculously high.
And we just keep on paying ’em.
Flashy extravagance: Kate Spade’s unremarkable, but vastly popular, handbags have become a suburban status symbol. Take the 8-inch-tall basketweave sack with fake flowers now going for $215. Hint: Borrow your granny’s purse instead.
Jeans: Gwyneth Paltrow’s not the only one paying $200 to cover her tush in the latest denim rage, Alice + Olivia jeans. Even the Lucky brand of jeans at the mall can hit $102 (and those are the ones that come already ripped, thank you). Aren’t you glad you can still go to the Gap and pay a mere, uh, $50?
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Shoes: Nike Air Force Ones, popularized by hip-hop culture, start at $75, but customize ’em with some Burberry of London plaid and they run a mere $170 to $190.
Public television and radio: Supposedly free but really $60 annually for guilt-free enjoyment.
Private school: In 2002-2003, the average median tuition for private day schools is $11,778 for elementary grades and $14,972 for high school, according to the National Association of Independent Schools. Those figures don’t include parochial schools.
Coffee: A Starbucks grande (i.e. medium) mocha costs $3.63 (times how many per week–or per day?)
Cable TV: The average monthly cost for basic cable, as of December, was $34.52. And, no, you don’t get “Sex and the City” with that.
Music CDs: For $19, be lulled to sleep (or annoyed to distraction) by “American Idol” contestants singing “classic American” love songs. Or why not record your own CD for only a few dollars more? If they can sing, surely you can sing too.
Water: At your neighborhood market, a 33.8-ounce bottle of Belvoir mineral water goes for $3.99.
Carwash: Eight bucks for the basic wipe-on, wipe-off. If you want a spritzing of wax and some clear-coat protection, a wash will run you $15 to $20. Whatever happened to a bucket and a hose?
T-shirt: Used to be that a good, basic T-shirt came in a plastic bag, as a set of three, from Kmart. Not anymore. The 100 percent cotton, but somehow chicer, Michael Stars brand crew necks, in black or white, will set you back $32.
Living in a material world
Sure, we complain about paying $4 for a cup of coffee at Starbucks. But consider this: That’s almost the same amount of money a worker in Nigeria earns in an entire week. Per capita gross national income for select countries (in 2001):
Japan: $35,610
United States: $34,280
Israel: $16,750
Mexico: $5,530
Nigeria: $290
SOURCE: WORLD BANK.
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Edited by Lara Weber ([email protected]) and Drew Sottardi ([email protected])