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I would hope today's youngsters learn something from the current economic down turn.
They should learn how to prioritize too. They all can use more responsibility and resourcefulness.
I don't think this is a good sign at all, it's sort of ominous, really. It's very rare for kids to cut back so much in a recesison. This kind of money concern being widespread is rare in most modern recesions. I remember in 2001 I went out and bought games and movies same as always (not a teen, but still a young adult). This time it's like you can feel the angst in the air, alot of people don't feel like spending anything.
Another troubling thing, usually entertainment is immune to a recession. For years the video gaming industry has been thinking they were immune from recessions, since the 2001 and 1991 recessions didn't affect them at all (and the "video game industry" as such didn't exist in the early 80's). Yet late 2007 and early 2008 were extremely disappointing sales for the PC platform. In terms of hardware, alot of gamers I know online are cutting way back on their spending. People that used to blow a couple hundred on a graphics card or processor every year or two are thinking twice. Even review sites are getting much harsher on the value of hardware, whereas in the past hardware reviews were often bubbling with enthusiasm for any performance gain or new feature, now review sites are critical.
On the videogame console side, companies like EA and Sony had a disappointing holiday season in 2007. Alot of companies like Gamestop are banking on used videogame sales increasing, which isn't good if you are in the business of making new games and new content.
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