Consumer Spending & Choosing..​...................from Rico

Consumer spendng is about choosing. - Choosing to be in debt is choosing to be poor. [read: Buying 'stuff' you cannot afford with money you don't have.] 'East Credit' is creating another American 'bubble.' At least with housing you got an asset that rose in value along with inflation (appreciated). - The latest information says that 95% of the last year's consumer debt was for Cars and Diplomas. Cars? Cars are THE fastest depreciating asset you can buy. The minute you buy one, before you turn the key and drive it off the lot, you have thrown away a bunch of money and are left with a big debt...and probably 'underwater' into the bargain. Congratulations on your new 'used' car. Diplomas? Overpriced Diplomas from for-profit schools won't get you that coveted pizza delivery job or guarantee you'll be proudly wearing a King of Burgers hat. Student debt never 'goes away'...not even if you're one of the 1-in-4 unemployed Americans. You just got the 'sheepskin'...just not in the way you thought. This leaves 5% of consumer debt racked-up on other 'stuff'...and that's before Americans even start to 'think' about what to stuff under the tree. Retailers might be moaning about poor sales this holiday season, but is the 'upside' that consumers are choosing to be free...or are they simply tapped-out, broke, el busto and have no choice in the matter?