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Primarily on American consumers. The sense of entitlement that my generation and younger have about material things is mostly to blame. When I moved out, I expected to maintain and improve on my living standards, which got me into trouble with debt eventually. I didn't take into account the fact that both of my parents had successful careers and had worked hard to get a nice house, nice/new cars, be able to go out to nice restaurants, buy nice clothes, etc.
I just think that nowadays young adults aren't willing to build their life from the ground up, so they borrow and live over their heads instead, usually never catching up. I think that mentality has been one of the biggest unspoken factors of the current crisis we see. Young families are getting foreclosed on because they were more worried about having things and having people see the things they have, instead of whether they can pay for it or it is a smart decision to get it. I guess it just irritates me because I started down that road, saw where it was going, and got myself out of it without bankruptcy, without getting sent to collection, without getting bailed out, but by simply STOPPING MY SPENDING on things I didn't need until I could start affording to pay cash for those things and by working my freaking tail off to improve my career and earn more.
Selfish people feeling entitled to a standard of living above what they could afford or were willing to work for is primarily the issue, the secondary issue is lenders willing to give loans and credit to people who didn't deserve it. Now they are strapped, people are strapped to make their payments, so the money they are spending is going towards items they already possess, not new things.
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Coimhéad fearg fhear na foighde!!!!
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