Posts Tagged ‘consumerism’

Commentators trying to make sense of the economic chaos that hit the nation in the last couple of years have wagged their fingers in many directions – at banks, regulators, lenders, and so on.

But one culprit in everyone’s sights is the American consumer. Americans are in good measure to blame, we hear, because in the last couple of decades they became reckless spendthrifts, careening into credit-card debt, living far above their means – and then crashing and burning.

Could be. But overspending is nothing new. Indeed, it’s probably been less true recently than it used to be.


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