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Don't you yet know that America is a consumer society, that credit and debt is a way of life? Don't you know that the rest of the world wants this, too?|
In Japan and South Korea, the young people spend all of their money on consumer trash--music, movies, electronic gadgets, trendy clothes, cars, etc.
Even in the Philippines, where there is enormous poverty, such that many of their university graduates go to Taiwan, Hong Kong, and to many countries throughout the world to work as lowly servants, jobs that no other educated person would take, the people want to buy consumer trash!
Sadly, the majority of people want to own things, to consume, rather than to find higher purposes in life.
Such is the goal of global corporations: They manufacture things very cheaply and mark up the retail price many times what it cost to make. Then, those corporations spend many billions of dollars to make people want their useless trash. A part of the capitalist system is to try to force easy credit on people.
Nowadays, as soon as an American kid turns 18 years old, they can get the credit to buy expensive cars, clothes, stereo equipment, and just about anything else. But is that all the kid's fault?
Many kids have learned that behavior from their parents, which results in so many of the parent's children--who are in their 30's and 40's--to move back "home" with their parents.
Now, this kind of spending and credit frenzy is spreading throughout the world, as corporations become much less American and more global.
Already, Japanese, South Koreans, and Taiwanese are spending all of their money and going into debt.
The corporations are making continuously higher profits from people's debts. They will manufacture something that costs $10, mark up the price to the consumer to $200 and give them credit to buy it. The person will pay perhaps $30, before they are too far in debt to pay anymore on all of the things they have gone into debt for...but the corporate leaders have made a large profit. Multiply each such transaction by several million transactions!
Wealth buys power and control over the common person's lives--and that is what is beginning to happen in China. It won't be very long--as the free market economy capitalism, and corporations the new political force in China--before hundreds of millions of Chinese are buying with credit cards and going into debt!!!
I earned to university degrees through full scholarships, and I have NEVER owned a credit card. There is nothing that I need so much that I have to buy it on credit. I learned that from my parents.
Those younger people who spend their parent's money do so, because their parents didn't teach them, the way mine did!