Just yesterday new iphone launched at US. The iPhone 6. :D And long line of people were waiting outside the building to purchase it at its launching event.

The expected Indian price is 52000 to 70000 as per device feature. And still its sooooo popular.

Yes. I know about the people are falling in queues. It's the height of craziness.

Crazy is not suitable word here...as the thread title says..these people have so much money that they fail to understand how to use it and hence end up buying useless gadgets.

True...but there are also people who are not very rich but just for the sake of keeping up with the current trends, would even beg, borrow and steal to own such latest gadgets. And the number of such people, especially the young is very significant!

Yes, this is another aspect i missed out. These people..this lot can be labeled as crazy...borrowing and stealing for showing off is foolish and sick.

For such people, false notions of prestige is more important than their real financial status and security. If you really look around, you will find that this nature of showing off is actually very prevalent in our society.

Yes, this has been there always..but on the rise even more. Camouflaging financial incompetence or lack of it by borrowing was there in the past as well..and is still continuing.