Consumers vs Producers
As U.S. citizens, we are sold the idea that we are entitled to a certain standard of living. Success for us means big houses, nice cars, and stuff. Americans buy a lot of stuff on a worldwide scale.
The problem is things aren’t as peachy as they seem. Employers are paying workers less as costs of living are increasing. Put another way, the quality of life that we have grown accustomed to is becoming harder to maintain. Attempting to keep up with Joneses in this environment is close to insanity. It’s a good chance the Joneses are on the brink of slipping out of the middle class and into plight.
As the world economy slips into depression, television still feeds us images of the good life. And the consumer mindset prevails. People are led to believe that their possessions convey status amongst their peers, and it is true to a certain extent. However, gauging success based on one’s possessions is very misleading due to debt. An individual can make purchases with credit cards and give the illusion of wealth. Of course, this comes at a price. At some point the debt level can no longer be sustained. The consumer becomes trapped.
On the other side of the coin lie the producers, the business owners and investors. Presently, wealth inequality is exploding and being concentrated at the top. This means that the wealth is flowing to asset holders and away from those holding liabilities.
Going into debt to give the appearance of wealth is a losing proposition.
Don’t be a victim of the game that’s stacked against you. Learn to make wealth a reality through financial education. Learn to see wealth from the side of producers.
Entertain money.
