Save? Why would you wait for stuff? The above story hardly comes as a surprise and is non-news. Why? Because red is the new black. The evidence is everywhere. The credit crunch showed us just how bad it had got and still is. The bankers created debt so that we (consumers) might have debt. The consumers’ insatiable desire for stuff now and therefore credit (I prefer the term debt) is allowing this collective idiocy to continue. The bankers/lenders actions are a function of a cult of acquisition based on a cult of nowness – not waiting and not saving for stuff. We are still programmed to not wait for things, seduced by the prospect of having now and we’re prepared to go into denial about the risks or rationalize/neutralize them. People use abundant credit to buy things that they cannot afford because they want them now rather than later. Moreover, this can be done at the press of a virtual button. Debt is the norm (who would know their creidt score twenty years ago?). You’re a freak if you say you’re saving up for something.
For more on neutralization – how we justify ‘bad’ consumer decisions check out the links below. These deal with contexts that do not relate to debt but we employ rationalizations in many scenarios to justify our behaviour (from over-spending to illegal downloading):
A note about copyright: copyright