"While I've watched video game maker Electronic Arts (NASDAQ: ERTS) for many years, I've never felt it was cheap," says growth stock specialist Nate Pile.

In his Nate's Notes, he now says, "I am thrilled to see the stock price finally experience the sort of pullback that justifies a buy rating; indeed, I wasn't interested at $50 four months ago, but at $17 today, I can't help but get excited."

"Over the years, Electronic Arts has amassed an impressive library of titles. In particular, you may be familiar with the entire Sims collection, as well as the company's extensive lineup of sports games (including Madden NFL and Tiger Woods PGA Tour, for example).

"In addition, Spore is a recently introduced hit, and some other titles you may be familiar with (or at least seen in TV commercials) include Need For Speed, Medal of Honor, and Rock Band.

You'd think we were in the midst of an economic downturn. Default rates on mortgages are soaring, and there is talk of a major bailout of people who are having trouble keeping up with their mortgages.

So how then, I ask, is it that people can apparently still afford to blow money on new televisions, video games, and all kinds of other consumer electronics knickknacks?

According to Sony (NYSE: SNE) CEO Howard Stringer, the shaky economy "has not affected electronics in the U.S ... Black Friday turned out to be very good for consumer electronics sales, and very good for PS3 (PlayStation 3) sales, PSP (PlayStation Portable) sales and beyond."

If people are struggling so much, why are they still spending so much money on PS3s and PSPs? Before we commit to a giant taxpayer funded bailout, shouldn't we look for signs that consumers are cutting corners themselves? Why are we bailing out people who are still spending on consumer electronics like drunken sailors on shore leave?

It's all very confusing. But for now it looks like, mortgages be damned, people still want to buy video games.

This week games-maker Electronic Arts (NASDAQ:ERTS) announced a deal with Hasbro (NYSE:HAS) to create electronic versions of the toymaker's brands, including Scrabble and Monopoly. The deal runs through 2013, and covers all Hasbro properties, which include such popular names as the Bratz dolls, the Fantastic Four, Gastrointestinal Joe, The Simpsons, and Twister.

While EA hasn't released information about their plans to make use of these properties, the possibilities are endless –

• Monopoly Extreme -- Why should players be allowed to stroll uninhibited down Boardwalk and Atlantic Avenue, when the game could be much more interesting in a Grand-theft- Auto-type world? Imagine shooting your way out of Marvin Gardens, highjacking a Reading Railroad train, and trolling Baltic Ave. for a hooker.
• Chutes and Ladders -- In the video world, falling into a chute would cost the player much more than a few squares – perhaps even a visit the Hell! Ladders, on the other hand, could lead to greater rewards, such as a front row seat at a Barry Manilow show in Las Vegas. Or do I have those backwards?
• Bratz – the Hilton version. Dress up your Bratz from an endless variety of skanky outfits (underwear tonight- yes, or no?), take her partying in the hottest Hollywood clubs, indulge her in the very best drink and toot, and check her in to the most exclusive rehab clinics. Accumulate points every time she manages to smack a paparazzi with her purse.
• Scrbl – txt vrsn. Txtrs cmpt 2 c who cn use t fwst ltrs 2 spl wrds.
• Easy-Bake Iron Chef – No more light bulbs and tasteless cakes. In the virtual world, mini-chefs can compete with gamers around the world to create monster desserts, exotic entrees or even cook up batches of meth.

Now, that's entertainment.