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Consumer Behavior Wants to go into Debt

In regards to consumer behavior, it is often said that we are a "debtor" nation, all too willing to go into debt for wants as opposed to needs. Why do you think we, as American consumers, are so willing to go into debt? What drives individuals to carry such high consumer debt and when do you think we transitioned from a nation of savers to a nation of debtors? What are the long-term implications of our collective indebtedness? What are the implications for marketers of high-end products and services?

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First off, we are very materialistic. Whereas in much more poorer nations, basic needs are not being met, Americans met their needs and have spent a long time trying to meet their wants which are endless. This all stems from the American dream that America is seen to have the ability to give anyone. The problem with the American dream is that not everyone is able to achieve it but everyone still has it in their mind set. Since we are one of the most powerful nations in the world and have come up with many new inventions and ideas, ...