Restaurants in some areas are full, international flights are full and in some pockets, homes are going for over the asking price. Last year at least, you would see homes in Spain and Italy in small towns being listed still at a pretty high price (on the windows of realty offices).
Stock market is up to levels before the financial crisis so some people must be feeling the "wealth effect."
So there's still money out there but who knows where next gen consoles rank among the discretionary purchases for people with money.
Restaurants and airlines have all contracted. They are full because there are fewer of them. In the US alone there are roughly half (or less) the International US based Airlines as there was 10 years ago. And of those that remain, they now offer fewer international flights than they did 10 years ago.
Many restaurants in my area have gone out of business in the past 10 years, without many new ones replacing them.
But that said, there's always optimistic people. I have the same people telling me every year that that the economy is improving for sure now. Only to have it remain stagnant or get worse. But year after year, they believe it is getting better
now even if there's no real signs to support it.
I've actually extended the minimum time period I was expecting for a potential recovery due to almost no governments (especially not the US) doing what is required to actually pull off a recovery. As I said before to many friends and acquaintances, it's going to get worse before it gets better.
I'm fully expecting Korea to be headed for a large crash which will be a potentially large setback to global economic recovery. Their credit bubble is getting ridiculously large.
Anyway, speaking of smartphones and tablets selling for so much. People can justify those as combining needed functionality (cell phone) with what they think they need (text/video chat) and what they want to use to distract themselves from the world around them (everything else). Consoles currently only operate as a distraction. If there was a choice of where someone had to spend their money, it'll likely go to the smartphones first, then tablets, then consoles. Just due to the variety of things they can do.
This next generation of consoles may change that around a bit depending on how well they do the set top box/non-gaming related living room experience bit while also offering gaming that is unavailable in anything other than a PC at prices that can't be matched. Which means pricing it cheaper than a more useful cell phone, and a more portable good/expensive tablet.
Regards,
SB