Maxed Out: Keeping Up With the Joneses
This summer saw the biggest decrease in consumer spending in 30 years - a sign that chasing the elusive Joneses may have finally exhausted Americans financially.
For the past 60 years, since the U.S. Department of Commerce started tracking these statistics, consumer spending from quarter to quarter is almost always increased. Not only has it decreased this past quarter, but by 3.7 per cent the largest decrease since 1980.
Two thirds of the gross domestic product is consumer spending. One hundred years ago most of our income went toward necessities, today, nearly half is for non-necessities. Our wants have kept our economy going. But the mortgage meltdown that lead to the credit crisis and now the credit freeze is putting our lifestyle, our consumer way of life and ultimately our economy, at risk.
Видео Maxed Out: Keeping Up With the Joneses канала KPBS
For the past 60 years, since the U.S. Department of Commerce started tracking these statistics, consumer spending from quarter to quarter is almost always increased. Not only has it decreased this past quarter, but by 3.7 per cent the largest decrease since 1980.
Two thirds of the gross domestic product is consumer spending. One hundred years ago most of our income went toward necessities, today, nearly half is for non-necessities. Our wants have kept our economy going. But the mortgage meltdown that lead to the credit crisis and now the credit freeze is putting our lifestyle, our consumer way of life and ultimately our economy, at risk.
Видео Maxed Out: Keeping Up With the Joneses канала KPBS
Показать
Комментарии отсутствуют
Информация о видео
Другие видео канала
Life on the Streets of San Francisco (360 Video) | KQED NewsI have 9 Maxed Out Credit Cards and £20,000 of Debt | Spendaholics | Only HumanSpent: Looking For Change (Full Documentary) | American ExpressFaces of Poverty: Life at the Breaking PointAre The Joneses Broke? | The Truth RevealedSouth Korea's Growing Household Debt | Undercover Asia | Full EpisodeGetting By: An Envision San Diego DocumentaryDocumentary: Millennials & Debt | No Room to ManeuverHow Suze Orman SCAMMED the Poor and Middle ClassEnvision Documentary: The Incredible Shrinking Middle ClassWhy so many Americans in the middle class have no savingsThe Debt Trap | The New York Times20/20 Diane Saywer My Reality: A Hidden AmericaThe Overspent American: Why We Want What We Do Not NeedFor sale: The American dream | Fault Lines🔴 The Coming Retirement Crisis Explained and Explored (w/ Raoul Pal)The American Nightmare: 10 Years After the Financial Crisis | Full DocumentaryThe Price Of The American DreamSurviving an Unlivable Wage | Full DocumentaryStarved: Our Food Insecurity Crisis