Debt and America's Consumerism

Debt is almost as American as hamburgers and drive-thrus, if not more, but it has people of all classes in a stranglehold.  What could have lead to such a thing?  While this could be a junior theme all unto itself, as some people in our class investigated, I will cover a few ideas.  First, I read THIS article, by the New York Times, which explains the history of American debt.

It starts the history by saying that Americans have had a lot of debt in the past.  In the 1800s, farmers used credit, a form of debt, to buy items for their farm and survival.  Debt was used as a tool to get what you needed, then to be repaid in a predictable fashion.  It was looked down upon to have too much debt or to not pay back your debt.

In the 1920s, debt was used to pay for appliances.  Debt was used to keep workers in order, and give them an incentive to work harder.  Citizens bought houses, cars, and other things on credit.  This kind of debt was used to promote a certain lifestyle, and to own what was in style.  People did not use it for survival, but rather for personal gain.  This is similar to what Americans do today.

Today, the average amount of debt per person in the United States is about $15,000, mostly on credit cards. How do people manage to accumulate all of this?  It is mostly due to a flaw in the American dream.  This ideal usually the message that you can go from rags to riches in America, and make life much better for your kids.  However, some baggage that comes with the dream is the idea that you can make yourself happier by buying large amounts of things.  This is the foundation for consumerism.  This is the socioeconomic trend that causes people to want to buy an ever increasing amount of new possessions.  Consumerism has lead to a huge amount of debt for individuals, who struggle to pay it all and have gone bankrupt.  At my previous church, there were financial helpers and advisors who could help families pay off and get rid of their debt.  This is clearly a huge problem in our culture today.  I don't think that happiness can come from buying more things.  If you think it can, watch Madame Blueberry, a VeggieTales production.

So, debt was useful for survival in the past, and people depended on it in order to pay for their food before their crops came in.  Now, debt is used to try to gain happiness in the form of stuff.  I find this very empty and meaningless.  But some may not.  Are there are any times when buying things can make you happier?  Can this last in the long run?  Won't all material possessions break or become useless eventually?