The iPhone saving the economy? I think not.

Just today, as I was getting a new post ready about the disruption Apple has done to the economy, along comes this article ( Could the new iPhone save the U.S. economy? JP Morgan thinks it might ).
I think, their analysts did not do their research properly.

The app store is full of free apps. At first glance this is something great, but if you think about it, it brought a disruption to the overall economy (Read John Winsor’s The World as We Knew is Over, Now What?) that we didn’t think about. This does not help anybody and a store with hundreds of thousands of free apps can’t save any economy. As John Windsor points out, it can actually do the opposite.

But as always, we should take JP Morgan’s analysis with a grain of salt. At one point they were also bullish on the mortgage market and all those derivatives, which up to this date, I still can’t understand, and probably, neither can they. And look the mess that turned into.

Yes, I’m sure Apple will make a bundle with their new iPhone or the next iWhatever they make. They do make remarkable products. And I’m also sure JP Morgan has a share or two of AAPL. But saving the U.S. economy? I’m sure they could help, but first, they would have to build them in the good old U.S. of A.

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