A few weeks ago, my trusty Lenovo laptap snapped first the left and then the right hinge which connects the LCD screen to the keyboard/cpu unit. I’ve had it for several years (and been quite satisfied with it), but my immediate response was to go online and start shopping for a replacement.

And then I thought again.

Today, the $35 replacement hinges that I ordered arrived. This evening I spent about 20 minutes opening the case, removing the old hinges, and installing new ones. I’m quite happy with the laptop once again.

The larger implications of this for the economy are actually much more significant that one might suspect. The US economy has been built on consumer spending, both big ticket items (houses & cars) and on intermediate “white goods” (appliances & electronic gadgets). When times are difficult or uncertain (or both) many consumers have the option of postponing purchases of new or replacement items and stretching the life of the things they already have.

This appears to a significant part of what has happened in the US over the past 12 months.

See charts below: