Quote:
Originally Posted by lempke3000
Not to hijack the thread but I disagree with this. I think what has changed is what people now consider necessities.
Ahhh, I was planning a massive derail, but I will keep it to this: Americans are certainly part of a filthy consumerist culture, but this is only a small piece of the bigger picture, or rather, a result of the Keynesian model, which requires perpetual growth in consumer spending. Consumer spending, the nature of employment, and the government's artificially established market equilibrium are all inextricably linked. The "economic slump" was a direct result of a reduction in our hyper-consumerism following the liquidity meltdown.
The last few years were undoubtedly the first time in ~60 years that consumers realized that their jobs and salaries weren’t safe. Point being that consumers are not necessarily the ones to blame considering the bankrupt rhetoric of stable employment and rising wages that the federal government has jammed down our throat the past of couple generations. These are systemic issues that are way bigger than people spending more than they make. It's a catch-22: spend too much and sustain the economy (at your own expense), or spend too little and watch it crumble (along with your job security). Our system, from a consumer standpoint, is essentially a composite of this individual choice across all consumers.
Okay, that was more than I planned, I have to stop derailing. PM me if you want.