Being able to be kept abreast with everything going on in the world within a few moments of it happening decreases the need for details, for things that would "bog a person down", perhaps is one way of putting it.
Let's take, for example, June 25, 2009. Turn on the news that day, and the channels are plastered with photos of Michael Jackson. People are saying he's been hospitalized. I don't know about you, but I was hungry for details that day.
Bigger houses. Two cars. Daycares for the kids. Prozac.
The way I see it, buying bigger houses and two cars and daycare services are helping the economy.
They also provide jobs for either a working man or a working woman, building houses, cars, and working in daycares. This presents an opportunity for a family to have two incomes and buy more of this. It's a vicious cycle.