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I don't necessarily think this is a uniquely American trait. I think you'll find that "consumer awareness" or simple competitiveness for the latest and greatest item or fad is much more prevalent in Japan for example.
With regards to buying items that are "above your normal purchasing power", I'm sure nearly everyone does that sometimes.
When I was growing up my parents used to only buy really good quality stuff. However, we were quite financially challenged (thank you very much, 1970's oil crisis!) when my father's business went bust and we nearly lost our house, home and contents on several ocassions. However my mother used to say "Why buy anything but the best?" So she would scrimp and save and do without until she could buy that Waterford Crystal set of glasses, that solid oak kitchen. And I mean, scrimp and save for years.
Day to day stuff were considered just that. But high quality fancy goods (conceptually like the "good china", if you will) were always considered a worthy purchase. It's just that we had to do with shit for years before getting it.
I'm slightly different. I make good money and due to growing up in an environment where we were poor (to be perfectly honest), I spend money hand over fist. This is my curse, as even now 15 years in the rat race, making more money than almost all my friends, I still have no house or investments to show.
I have lots of nice, very expensive clothes, a lovely $60,000 car, a couple of hundred bottles of good wine... but I still rent an apartment.
Oh well.
At least I have good memories....
Mr Mephisto
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