As time goes by and I age, I find myself questioning more and more things around me. My degree is in economics and throughout college we were taught that spending is what creates a strong economy. It’s how we sometimes measure it, we cater our legislation around it, and our entire pop culture is based off of it. Spending is the glue that is holding our economy together… or is it? Perhaps , it is the force ripping our economy apart?
Today we are in more debt than ever, in fact our private debt to GDP ratio is the worst its ever been since the height of the great depression. The average US household is carrying around 15k worth of credit card debt and yet the government continues to incentivize spending. When spending stopped after the financial crisis in 08 the government thought of Quantitative Easing, which basically in its very bare form was a way to disincentivize the holding of cash. People were either forced to the stock market or figured it was better off to spend their money. How much is enough before we as a society say enough is enough? How much shit do we need to be happy? Is that extra pair of pants from Ralf Lauren or that Armani suit what is making us happy or is it all an illusion that has been pulled over our eyes?
To take a quote from Fight Club
“Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don't need.” ― Chuck Palahniuk, Fight Club
Every day I look around and I see people obsessed with the brand they are wearing, or the model of the car they are driving. People who think they are expressing their individuality with those $200 pair of pants. I don’t see free people, I see slaves who have bought into a system that perpetuates spending until you have no more money left to give and when you hit that point you take out a credit card and buy some more. We have been convinced that the brand we wear establishes our identity, without which, we would be just another forgettable person. We have created a society that revolves around money, how much we have, how much we make, so we can continue buying into absurd identities that some soulless corporation dreamed up.
Those who see past the bullshit of our consumerist society and actually make the right decisions are further punished by the government. Our investments are taxed to the point where it sometimes doesn’t even make sense to pull the money out. When I was younger I was a big believer in helping everyone in our society and in some ways I still think that, but in the back of my head I have a growing feeling that doing so would be throwing money into a pit. Until people can open their eyes to the crap they have been fed, our economy is going to continue down a road of debt and destruction for all involved. Look around you, be aware, don’t become another slave of debt to these massive corporations that will control your life. Once you go far enough there is no turning back. The debt doesn’t go away, you can’t out pay it, all you can do is declare bankruptcy.
Don’t let our culture make you feel obsolete for spending only what is necessary, don’t believe the idea that you are “cheap” because you don’t want to spend 60 dollars on a shirt that you’ll wear only a few times. You are the smart ones, you have the potential to achieve freedom and buy yourself out of the system of debt that we currently live in.
-Calaber24p
I think you are mixing up consumerism and our financial system. Debt is bad and our financial system is enslaving us. However buying things and consuming is not automatically bad. So I disagree that consumerism is enslaving us I think it is our financial system. Some things like credit cards and other forms of debt are a result of the financial system more so then consuming makes us slaves. If we consume well we actually get richer. You can be stupid with anything of course and you can be wasteful by spending on the wrong things. However the slavery comes from putting society in debt, which is an issue of the financial system.
I wrote about this here: https://steemit.com/politics/@knircky/steem-for-the-win-i-don-t-care-who-wins-the-white-house
Check it out and let me know what u think.
This is probably the best post I have found interesting so far, about the money issues. It seems that the more money someone makes, the deeper they sink in the world of "must haves". We live in a very competitive society, where people feel they need to have better things than their neighbor or friends. They put themselves in debt just to afford that brand new car or Coach purse. People should be ok with what they wear, drive or whatever they own, without feeling they "need" brand name things. Every year, parents are pushed to buy brand new clothes (top brands) for their kids. I was one of them, until I asked myself why. If the clothes are still in almost new condition and still fit, why buy all new clothes? I am also speaking from personal xp about debt. I used to buy whatever fit my fancy and never worried about the outcome it would cause. I bought top brand everything. Until I found myself jobless and a big debt to pay off. Now I am known to my friends as a penny pincher. I drive a 16 yr old car and love it because it's paid for. If there were not so many ads pushing consumers to buy the latest things, we might actually fill the hole that we are digging.
That is why I worked for six years to pay off all my debt (except for my mortgage). I sacrificed a lot, working two jobs for years to get out of debt. I finished over a year ago and the feeling of freedom is amazing.
Unfortunately I agree that it is hard to stay dedicated and not go into debt in today's society. I keep seeing people I know with new cars and it is tempting. That's been on my mind a lot lately but my old truck is still running fine and I am saving money so I will have enough to make repairs or upgrade with cash.
Is your degree in economics more from the Keynesian model? Because there are other schools of econ, like Austrian, that don't teach that growth relies on consumption.
I should have put mainstream economics which is basically the Keynesian model.
I don't think this has much to do with his school of economics as much as what our mass media drive society encourages...
Keynesian economics teaches that consumption is what drives economic growth. Keynes was the economist Washington listened to in the 1930s in order to recover from the Depression. His view was that government works projects would "stimulate" the economy and grow it, the idea being that when the private sector wasn't driving consumption, the government could take over and force that to happen with these programs. Keynes also got on the radio back then and encouraged housewives to shop for the good of their economy (I think he primarily did this in Britain, but it illustrated his belief). The idea that war and natural disasters are good for the economy can be traced back to Keynesian thought, and the mass media drive encouraging consumption (led by Edward Bernays back in the day) is following the lead first established by Keynes.
I'll assume you didn't mean Washington in the 1930's,but I'm talking about present day. I don't remember Obama telling everyone that shopping at WalMart is patriotic... But companies and TV sure encourage it!
Perhaps the worthless money is partially to blame? Oddly enough Steemit might go a ways toward fixxing that problem.
Nice one! Also the other things which are used to sustain such consumerism is killing the planet. Look at the amount of garbage and plastic produced to package goods which ultimately screw up the land and oceans. This rush for consumerist goods has consequences far beyond what may seem apparent and it will only be awareness which can counter it. And articles like this one will help in bringing awareness which is sorely needed. Thanks for a good article!
yeah I agree there are more effects than just the debt it creates.
Its much better if all the plastic packages will be replace with paper so it will not stay longer and will avoid dirts in the ocean.
You tried twice to shoehorn the government into this... When it's really the commercial driven media driving all of it. The government, for whatever faults it has, has little to do with this...
I agree the mass media is probably the main problem, but the government supports spending heavily because it raises gdp growth which brings in foreign investment, despite much of that growth being from debt.
Please understand that government, media, banks, education etc are all part of the same complete package of hijacking our lives individually and culture as a whole.
great info! similar to my article about materialism..
That's why I don't like applying for a loan, if I want something, I have to save for it and buy it in cash. I don't have a credit because it would only make my life miserable due to its charges and interest. This is the price of convenience and made me think its better to live in the jungle and be close with nature.
The greater our income , the more our requests . Do not intermeddle in the credit? But what about for example , you can buy a home ? Stash all your life ? When I want to live now ... I'm not talking about buying expensive brands . But if you have money , then why not buy them ... Maybe I did not understand your article , my interpretation of the English is not so strong.
I am not sure how the bankruptcy procedure works, but i think not all debt is forgiven, you carry it on for the rest of your life, debtor prisons will come back, where you will work sub-minimum wage to pay it back. Yes it's literally the new slavery.
I feel our society has lost something... like I know far too many young people who cannot have a conversation without a smartphone, regurgitating some drivel they saw on a meme or gif as if it was their own. We have gotten extremely suggestable... as in we see something and we immediately want it or adopt it into our daily life.
It is a prison of the mind... we build this idea of need when really it is greed, knowing deep down it will do nothing for us at the end of the day; just make another dent in the bank account that in theory we cannot afford.
Funny, it is a prison we build to imprison ourselfs... we are the immates and guards
It seems that more people are beginning to realize your point. Spreading the word helps. Cheers.
Our culture is about running, running after the time, running through your life while we should slow down and enjoy the ride.
Pretty awesome article. The money and the fairy tales about freedom. You think that you are free when you have money but you are just a slave with money!! the economic system and mass media are very powerful and people believe their bullshit!!
The borrower is the slave of the lender.
Probably the most insightful line from Robert Kiyosaki (and I don't know if it is his originally, probably not) is "it's not how much you make, it's how much you keep". People who understand that have opportunities to thrive, people who don't end up squandering their time and resources chasing the next high. Thanks for writing this post, it is inspiring me to write something similar of my own.
Right on bro @calaber24p, very well said.. This culture of comensurism is just 1 vital component of the matrix, a system of enslaving the 90% of population by the ruling elite since time immemorial. This system of slavery has evolved & has become so effective in a way that a significant no. of the 90% are still either brainwashed or doesn't care let alone even capable of questioning the system. Others are so brainwashed, they would even defend this corrupt system like it's their duty..
If u go dig down deeper the rabbit hole , u will find that everything is interelated & interdependent in making the matrix run effectively for the ruling elite to continue enslaving the rest of world population. . From educational system , comensurism culture , govt policies, war, economic system , monetary sustem , religion to the simple food ur mother has prepared for u in ur table.. ;)
Great article @calaber24p
It seems absurd that people continually feel the pressure to buy 2-3 new pairs of jeans each year just because the cut, colour, holes and tear style changes. The challenge is most people instantly sum up the success of a person based on their clothing, car and house. Drive something shiny and you convey to the world that you hold a good job, are valued at work and can splash some excess cash around. The reality is usually that the shining hunk of metal is held up by four wheels and a massive bank loan.
Looking forward to seeing your future posts.
Really great text! I was reading this post a few days ago: https://steemit.com/life/@thomasmmaker/article-a-thought-about-savings-and-consumerism-02
I think it complements what you said, consumerism does not only affect our daily lives but our future as well.
Definitely some good points here. It's why this year I've made it a goal to really be intentional and conscious of my own consumerism. I've been writing about it recently on my steemit blog to keep myself accountable and to find people on the same journey. Thanks for sharing this!