Why Americans Love to Buy: The $20 Billion Daily Habit

#ecotomics #consumerbehavior Americans are the biggest consumers in the world, spending far more than any other country. Even China, with nearly five times the population, spends less than a third of what we do each year. But this level of consumption comes at a cost. Household savings rates are at historic lows, and high-interest consumer debt has surpassed $1 trillion. That doesn’t even include car loans, mortgages, student debt, or “buy now, pay later” schemes, all of which are also at record highs of Why Americans Love to Buy. So what happens when the biggest consumers on the planet can’t afford to consume anymore? And more importantly—could simply buying less be the solution? #consumer debt, #useconomy , #Americanspending #financialcrisis #money #consumerism #wealthylife Sources : https://en.wikipedia.org/wiki/List_of_largest_consumer_markets https://data.worldbank.org/indicator/NE.CON.TOTL.CD https://www.google.ae/books/edition/Crabgrass_Frontier/pqRoAgAAQBAJ?hl=en&gbpv=0 https://www.worldometers.info/world-population/us-population/#:~:text=the%20United%20States%20population%20is,(and%20dependencies)%20by%20population. https://finance.yahoo.com/news/average-american-monthly-expenses-according-170029278.html https://www.usbank.com/investing/financial-perspectives/market-news/consumer-spending.html