Saturday, July 23, 2005

Buy Now, Pay Forever

In yesterday's post, I said that I've got a little bit of hope for Corporate America. Though I do have a little bit of hope, for the most part I still believe that Corporate America is greedy, underhanded and just plain sucks. Don't get me wrong, I'm a capitalist through and through. I just disagree with the common perception that it's all about the dollar, everything else be damned.

Think about it... from the time you're old enough to be aware of your surroundings, you're innundated with advertisements and marketing... flashy commercials during Saturday morning cartoons... catchy little jingles about crappy products... showy packaging... strategic product placement in the stores. And this follows you throughout the rest of your life... buy now, pay later... credit cards are easy... The point of their marketing, however it's presented, is always the same. You need our product, and you need it now!

I hope you don't think I'm a minimalist who thinks that commercialsim and consumerism are bad, bad things. That's not the case. I'm not one of those misers who eats nothing but tuna, leaves the A/C off in 100 degree weather, and walks everywhere in the interest of saving that one extra penny. I do the occasional impulse buy like everyone else. The problem I have with all of this marketing is that we as a society have taken consumerism to the extreme, and we have Corporate America to thank for this connundrum.

Practically from birth, we're brainwashed to buy, buy, buy. If you don't have the money now, no problem... just charge it. Buy now, pay much more later. Forget about saving for a rainy day; let's go for the instant gratification. As a result, people owe too much and aren't prepared for the unexpected problems that invariably occur in life.

Spending and borrowing is at an all-time high, and saving is at an all-time low. Bankruptcies are rampant in society, and when you dig yourself in too deep, the companies don't care... they all want their money, and they want it now! They don't care about your circumstances when things get tight, and blame the consumers for their woes. These companies universally brainwash you into the consumeristic mindset, and then say "You should have known better" when you extend yourself too far. They make you feel like a failure and a deadbeat when you inevitably extend yourself past your spending limits.

And most recently, President Bush has made it more difficult to wipe the slate clean and start over by filing for bankruptcy. While I agree to some extent that it's a little too easy to file bankruptcy and abuse the system, I also believe that the new bankruptcy laws will probably prevent the people who need bankruptcy protection the most from doing so, and the slimebags who abuse bankruptcy will still be able to skate by on technicalities.

The real answer to consumerism is a little more personal responsibility and education all the way around. Consumers and producers both need to understand that it's not about the almighty dollar. Consumers need to consume a little less, and producers need to be willing to be more responsible as well. Producers need to stop setting the consumers up for failure, and consumers need to start setting a little more aside for a rainy day. This would probably be a little painful for the economy in the short-term, but in the long haul, we'd all be better off.

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