Week 9: "The Overspent American"

What are the latest items of conspicuous consumption today? Do we see a continuing trend in what the video identifies as the “overspent American”? How does marketing today play a role in these trends today?

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“The Overspent American” was an interesting look at an economy that is overspent. According to the film the big three items that we spend our money on are, cars, houses, and clothes. In class we agreed that technology is also an item that Americans consume greatly.
These items are what Americans spend the most money on, and are likely to continually spend their money on these items in order to keep up with the “Joneses.” I thought it was interesting to see how the American spending trend has moved away from keeping up with financial peers and has moved towards keeping up with the rich and affluent that are glorified on TV.
This is what “overspent American” is discussing. Not only are Americans spending more money than ever before, but they are spending their money on items that are above their pay scale. According to the film, this creates a vicious cycle of working more, to earn more, to spend more, only to work more to cover the debt. This is an unhealthy cycle that has contributed to the financial crisis we are in today.
I see marketing as one of the main contributors to the overspent American. People are trying to emulate the lifestyles that they see in the media. In America often times these lifestyles are those of celebrities and the upper middle class. This leads to the middle and lower class Americans to envy the luxurious lifestyles of the affluent and re-create them in their own lives. By marketing this rich lifestyle americans are consuming more, which is the goal of the marketing, but americans are consuming more above their means. This is perpetuating the financial crisis we are in. What do other people think? Do you think marketers are to blame? Are American consumers to blame? Or is it the affluent?