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Americans Are FAILING: Over Spending Is Leading To The Debt Crisis

Mac Slavo
April 3rd, 2019
SHTFplan.com
Comments (12)

As the economy hangs on by a thread, the majority of Americans refuse to see the rocky road ahead. As a country, the United States is addicted to debt and the average American household uses debt like a drug with the consequences coming later.

Americans are overspenders.  The government has a problem with spending money it doesn’t have, and will never be able to repay, and that example has been taken up by the American populace at large.  Who thought it was a good idea to allow 18-year-olds to borrow hundreds of thousands of dollars to get a degree most don’t even use? Someone did, and those who have borrowed money for the education will defend their poor decision regardless of the evidence that it was a terrible financial mistake.

This willful denial is just one way Americans refuse to deal with their own problems of overspending which is leading to a debt crisis that has the potential of collapsing the system: which was also built on debt. If you ask anyone, very few will tell you the national debt should be dealt with.  Even fewer would say that their personal debt should be dealt with as well.

But Americans are lacking in self-control. According to a recent survey, last year, Americans spent $40 billion while “drunk shopping.” Maybe Americans have alcohol problems too. More than a quarter (26 percent) of Americans admitted to shopping while drunk, totaling 53.4 million people. Shoppers increased total spending from $30.4 billion in 2018, but the number of drunk customers continues to decrease.

Data showed Millennials spent more than double on drunk purchases compared to Gen Xers and baby boomers in the past year despite drinking the least amount of alcohol. The average Millennial spent $1,047 a year while drunk, compared to just $469 for Gen Xers and baby boomers ($466). -CBS Austin

Self-control in all areas is lacking and personal responsibility is a thing of the past for heavily indebted Americans. No one wants to hear the real secret to personal wealth: stop borrowing money and start paying what you owe.

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Author: Mac Slavo
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Date: April 3rd, 2019
Website: www.SHTFplan.com

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12 Comments...

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  1. James says:

    Well I guess being older come wisdom after all. Having paid off older cars, older boat that floats just fine, and my wife’s good cooking is a blessing. I do not have a lot money but we live a happy simple life. God Bless, James

  2. Frank Thoughts says:

    One of our business investments is a content creator for the web. They, as you might guess, make money off the many “adult” websites out there. They simply LOOOOVE Millennials and younger. Because they are so in debt, they will easily sign up to create content. They are having sex anyway so why not make some cash doing it? If they want all those nice things in life then they have to work for it. Sad as it sounds, it is better than them having to go to war, like their parents generation had to do.

    • TheGuy says:

      No. It isn’t.

      This shit will entirely eradicate any remaining social fabric. You think I’m exaggerating. Yeah, I’m not.

      To put that thought to the test, imagine one of these amazing on-cam cock-jugglers having a toddler.

      Better to be dead and remembered as a hero than alive and a f*cking prostitute/clown.

  3. 2d to None says:

    I am debt free and have been for years. I own my 75 acre farm, all the required equipment to fully operate it (backhoe, tractor, implements, etc.) I am almost 60 and have to admit, the worst think you can do is have a couple of glasses of wine, a debit card and the internet. I thought the entire recordings of the Osmonds was a great idea and would bring me back to my youth. Now I can only listen with a bottle of wine because they really did suck…

  4. aljamo says:

    I’d gladly pay you Thursday for a hamburger today.

  5. Old Guy says:

    We are debt free. We got our Ponzi Check the third Wednesday. Paid all the bills. and still have a little left over. However inflation has alreay stole the COLA increase. We need a depression to kill the inflation.

    • The government stole your COLA raise years ago when they redid the cost of living index and took everything that inflates rapidly like gasoline, heating and food off the list. The Fed is barely helping out with their 3% a year inflation (compound that over 10 years and see what it is!)

  6. Asshat says:

    I’m glad people over spend. The state needs its tax revenue and people need jobs. For them it’s nice to have everything they own on payments. They love being slaves to global corporate hegemony just to phony their so called friends into believing they are successful. Not having a budget is the American way. Have what you want now and pay later plus interest.

  7. ….but, but, but, I deserve that double chocolate caramel latte everyday, enjoyed in my leased 4WD luxury vehicle, while I drive from my 6 bedroom, 4 car garage, McMansion my wife and I (no kids) have a mortgage on, talking on my newest I-phone, as I drive from home to work were I make 30 grand a year. Oh, don’t forget my heavily mortgaged speed boat, motorcycle, snow mobile, and jet ski. Yet I just can,t figure out why we are in debt and struggle to pay our bills?

  8. Elias says:

    I like reading articles on this website, especially where it relates to money and everyone’s advice on not going deep into debt. I appreciate your valuable insight and funny comments. I think I’ve been reading here since around 2008. My first comment. Thanks