Average credit card debt equal to three PDP's
I doubt each United States household has three plasma TVs, but that's the equivalent product value of credit card debt per house. The figure turns out to be $7,200 of credit card debt, which is a big number when you multiply it out for every household in the country. (Don't whip out your calculator; it's $800 billion.)
The figure is staggering, but why would you equate it to a commodity that keeps dropping in price? I know it's just a way to exemplify the debt, but two other examples are comparisons of items that aren't changing in price or are likely to increase: 24 iPods or 1,200 Big Macs.
Ironically, just about every electronics retailer I see is offering financing incentives on HDTV sets. You usually have to purchase the item on the retailer's credit card to get 0% financing for "X" amount of months. Maybe the plasma example is a good one after all? Would you go into "hock" for your HD purchase?
