Is the iPhone 5 Better Stimulus than Bernanke?

Email
    Text size
According to JPMorgan analysts, the Apple iPhone 5 could contribute up to half a percentage point of U.S. economic growth in 2012's fourth quarter.

The claim caused FoxBusiness' Stuart Varney to ask Money Morning Chief Investment Strategist Keith Fitz-Gerald if a cellphone really carries that much power.

Keith takes the question a step further: Is this possible because the U.S. economy is so bad that a consumer product could make a difference, or is this an example of how dependent we are on technology?

Meanwhile, the U.S. Federal Reserve could announce another growth-stimulating program this week when it meets tomorrow and Thursday.

Watch this video to hear Keith's explanation of how the Apple iPhone 5 could trigger economic growth that rivals - or exceeds - stimulus moves from Team Bernanke.

Loading the player ...