Apple has certainly captured the heart of consumers across the globe with the iPhone, and it recently announced new, upgraded models at the WWDC Conference this past week, after having recently hit 1 billion app downloads at the iTunes store.

Regardless of the iPhone's huge popularity—actually, because of it—the New York Times couldn't resist taking a jab at the price of apps and, more importantly, how "vital" the smartphone has become to users' lives. Not to mention the tongue-in-cheek social commentary on our current economic woes.

Ladies and gentlemen, without further ado, feast your eyes on the iPanic, courtesy of the Times.

(Now I ask my fellow iPhoners this: How much do you think you've spent on iPhone apps? Be honest.)

Contributor: Sonny Gill. Follow Sonny on Twitter.

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